Manage initiated sheets allows you to manage variable pay sheets as per the company needs. A variable pay plan is applied to a group of employees for a specific time period. Variable pay for each employee is calculated based on their performance and goals achieved.
Once the variable pay plans are configured with a set of specific goals, the HR manager can create, initiate and manage sheets, capture goal achievements and calculate bonuses for the employees. This help page explains various functionalities related to Variable Pay Plans and Manage Initiated Sheets for HR role.
To manage initiated sheets, you need to follow the steps:
Manage Sheet
- Click the Manage icon to view all the calculated variable scorecards for the selected period. The Manage icon appears only for sheets whose score is calculated as shown in Figure 2.
Capture Payout Details
- Click the Capture payout details icon to capture financial year and pay period details.
Initiate Sheet
The sheet can be initiated for all the employees who are allocated to the variable pay plan.
- Click on the Initiate icon to copy all the goals from the variable pay plan (selected sub-period) to a new sheet for each employee.Note: If a sheet already exists for the employee, a new sheet creation will not happen. Based on the global settings for variable pay, an approval process may be required before the variable sheet is finalized for the employee.
Capture Results
Once the sheet is initiated, HR can capture results on employee goal achievements.
- Click the Capture results icon to Download and Upload Achievements as shown in Figure 3. HR can download the sheet and input employee’s achievement for each goal and then upload the sheet, and calculate the bonus for the employees.
Figure 3
Click on the link below to know more about it:
