Variable Pay is a type of employee compensation that varies, as opposed to salary, which is paid in equal proportions throughout the year. It's often used as part of an overall compensation strategy to recognize and reward an individual, team or group based on achievements/contributions.
Variable Pay facilitates the administration of complex bonus calculations that include quantitative business performance and employee performance measures. At an elevated level, it's a solution that provides a streamlined bonus planning and payout process.
Features of SuccessFactors Variable Pay
Key Differences Between SuccessFactors Compensation and Variable Pay
Things To Be Aware Of
The solution requires additional data to be uploaded (in the event that Employee Central is not used) to enable the calculation. The following five data files are used – in addition to the user master file:
One perceived drawback is the complexity and the extra effort required for implementation. You may need to allow extra time in administering the data collection and preparation of import files.
Whether you've implemented Compensation or are evaluating it, Variable Pay is typically included as part of the Compensation Management solution. Keep that in mind as you evaluate your business processes and implementation strategy. If you're looking to revamp your compensation strategy, it might be time to add Variable Pay into the mix. Contact us today to get started!
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AltaFlux Corporation is an enterprise cloud technology consulting services firm. We help clients to automate, transform, and optimize their business processes. We have expertise in leading Enterprise Cloud Platforms, such as SAP SuccessFactors, Dell Boomi, Microsoft PowerBI, WorkForce Software, and Benefitfocus. Learn more about AltaFlux (+)