Using the Remuneration Modelling Tool

Revision as of 04:56, 21 June 2020

Remuneration Modelling Tool Summary

The purpose of the Remuneration Modelling tool is to provide fast access to key remuneration information. You can model increase and decreases in Salary. You can apply Salary and Bonus increases based on Performance Scores.

The Tool allows you to view information for Employee's around LSL, Sick Leave and Length of Service, Other Costs, Benchmark (See if you are applying Salary Increase), Performance Review Scores. You can use the model to apply information to the Employee for Bonus and Salary or your can just use it as a Visualisation option to have a snapshot of the information which has been selected in the Columns.

You can Apply Salary reductions to the Model if you are reducing the Compensation for Employees by using the negative Salary feature. You can enter into the system, a Salary Date or Bonus Date which will be used to create new Salary and or Bonus records. Dates can be in the past or in the future. If a date is in the past, it will instantly create new Salary records for those people.

Salary Bench Mark can also be used to see if the current Salary for people is in line with the Benchmark which has been recorded against the Job. Bonus Payment Dates and Salary Increase Dates can be different to each other. You can also create different dates for different people if required. If you select Bonus from the Columns option, you will be able to see the last Bonus amount.

If you use the Authorisation process which is built into the Remuneration Modelling Tool, the person that sets up the Model, can send it for Authorisation to a Manager. All Managers will be available in the selection option, when Submit is clicked. A workflow e-mail will be sent to that person. This person can then Authorise / Decline, or send it to another manager for Authorisation. If Authorisation is performed by clicking the Authorisation button, the model will be Authorised and the Salary and Bonus records created based on the dates that are in the model. If you are using a Payroll integration, and the Payroll integration Supports Salary and Bonus update, this information will be sent from Subscribe-HR to Payroll. You cannot Create and Authorise a Model yourself for the reason of Risk mitigation and compliance. Please note that custom workflows can also be set-up based on specific Authorisation processes, which will only allow certain Managers to Authorise a Model.

Creating a Remuneration Model

1. After logging into the Subscribe-HR HCM Platform, under "TOOLS" select "REMUNERATION MODELLING" from the left navigation.
2. Select the [Add New Record] button.
3. Enter the Remuneration Model Name. Ensure that the name is descriptive.
4. Select Save at the top of the page.

Setting Filters on a Remuneration Model

1. Open an existing or new Remuneration Model.
2. Create the Name for the Model.
3. Select the Model Type. E.g. Performance, Redundancy, Strategy, Expansion.
4. Select Filter or Individual. Filter will allow you to only see people based on Job, Department, Location. Individual will allow you to select individual people and insert them into the model.
5. Select the Columns you wish to include in the Model
6. Complete the information available in the Columns and then either "Save" or "Submit" for Authorisation.

Inserting Columns into the Remuneration Model

1. Once you have defined your Filters, you can insert columns into the model
2. Standard Columsn include: Salary + - , LSL, Length of Service, Annual Leave, Bonus, Other Cost
3. Select the Model Type. E.g. Performance, Redundancy, Strategy, Expansion.
4. Select Filter or Individual. Filter will allow you to only see people based on Job, Department, Location. Individual will allow you to select individual people and insert them into the model.
5. Select the Columns you wish to include in the Model
6. Complete the information available in the Columns and then either "Save" or "Submit" for Authorisation.

Sorting in the Remuneration Model

1. Once the Model is established and data options have been selected using Filters, Individual and Columns, the information in the model can be sorted based on Highest and Lowest. Select the Column headings to do this. The data will sort based on Highest and Lowest amounts.

Setting Increase - Decrease Rates on Employees for Salary / Bonus

1. Open an existing or new Remuneration Model.
2. Select Salary + - (Increase or Decrease) and or Bonus. You will see fields, Current Salary, Salary Benchmark, Projected Salary, Value Increase as well as Bonus. The Projected Salary Amount value will be the same as the Current Salary until increase amount or value is entered. If Bonus is selected you can enter in a one off amount which can then be changed for each person, or you can select a % increase, for everyone which can also be changed per person.

Change History - Audit Full Change History

1. After a Model is created and "Saved", any changes in the model will be audited. Including changes to data, removal or inclusion of Columns, Comments, and the Submission - Authorisation process.
2. Audit is performed each time the Model is "Saved" and also through the Submit - Authorisation process.

Applying a Remuneration Model - Submit and Authorise

1. Open an existing Remuneration Model.
2. Create the model you would like to put in place. Including Filters, Columns and Data.
3. Submit and select the Manager you wish to get Authorisation from. Note: the Person who receives will be able to Decline (with Comments - see Audit and Change History Section), Submit to another user for Authorisation or Authorise thenselves.
4. Upon Authorisation of the Model, any information relating to Bonus updates or Salary updates, will flow through the the relevant Employees record, creating the record automatically. In the Authorisation Workflow, if you have included Salary Increase or Decrease or Bonus update, there will be a stop notifying you of the fact that you will be changing Salary or Bonus details. Upon authorisation, the records will be created. If you have a Salary Date or Bonus date which is in the past, the update will occur instantly. If the date is in the future, the update will create records with the future date as the start date. Salary Increase Reason will be based on what was selected in the Reason Dropdown in the Model. E.g. Performance, Annual Increase. This also applies to the Bonus.