Standard Earnings element with Calculation Rule = Factor is not calculating any value

Summary:

Standard Earnings element with Calculation Rule = Factor is not calculating any value

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We have configured a Standard Earnings element intended to pay employees a percentage of their hourly rate.

To meet this requirement, we created a new Standard Earnings element and selected Calculation Rule = Factor (while creating the element, we didn't get any option to select any rate definition). We then created the element eligibility, assigned the element entry to an employee, and entered Factor = 1.5.

During QuickPay, the element produces no calculated value—the Pay Value is blank or zero.

Has anybody worked on this kind of requirement earlier or faced any similar issue ?