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Annualization factor on GSP and Salary Basis

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edited Apr 19, 2022 11:13AM in Compensation 1 comment

Summary:

Annualization factor on Grade and Salary Basis

Content (required):

We have Grade Ladder defined with Grade and Grade Steps with Annualization factor = 12.

We have a Salary Basis defined with Annualization factor = 13.

Now when we Hire , Promote employee (using responsive pages which have salary section), would system automatically take care of Annualization Factor conversion?

For example if Grade Rate defined in Ladder for Grade A is 1000 USD, when we assign this grade A to Employee while Hire / Promote then should system show amount as 923.07 [1000*12/13] USD?

We observed that system is showing USD amount on Hire / Promotion Page as per Annualization Factor 12 (USD 1000) and not 13 (USD 923.07).

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