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Custom fast formula based start date and end date for Individual Compensation Plan (ICP)


Currently ICP supports only few payment start date and end date options. One common requirement we see is to derive the automatic payment start date and end date based on other attributes so we requesting to add capabilities to derive the custom fast formula based payment start date and end date.

We have savings plans where employees select a percentage amount to participate in the plan, accessible through employee self-service. This plan is globally implemented using the ICP. Currently, we have specific requirements where the % deduction effective start dates are based on payroll cut-off dates. Unfortunately, there is no way to derive a custom effective element entry start date.

Allowing users to choose the dates could lead to errors, and we cannot expect them to understand all the payroll cut-off dates. Therefore, it is crucial for us to derive the effective start date automatically.

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