Calculate incentive based on a percent of pay

Summary:

My compensation department wants to calculate an incentive compensation based on a percent achieved.

E.g. employee reaches 2% of incentive for the reporting period and the Incentive comp amount paid will be 2% of base pay as of 3/1.

We want to take and input of employee number and percent achieved and perform the calc in an earning element or some other object within workforce management.

Please provide advice on how best to achieve this.

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