Is there a standard Program to update the workplan costs after job posistion change of the employee

Hi

My questions is, is there any standard program that updates the workplan costs automaticallly after a employee gets promoted to a new job level that has a higher cost rate. We are aware there is an API to update the Refresh cost rates and conversion rates on the workplan assignments though.

Right now, we are running PRC Maintain Resources Program and we have to go to individual project and click on Refresh Cost Rates button to reflect the new rate.

Is there a better way of updating all the workplans/working forecasts with the new rate of the employees after an appraisal cycle.