- Admin Tools > Compensation Home > Select Plan Template > Plan Setup > Plan Details > Budget
- (If you con't see this option please open a support ticket to enable this feature via Provisioning > Compensation Management > Manage Compensation Plan Template)
- The Budgets link allows you to add/edit/delete the budget for different components of your compensation form. Administrators can make simple changes to some types of budget calculations.
- Note: If your budget calculation uses a custom field, it is not recommended to change your budget calculation without guidance from SuccessFactors.
- Use this page to define Compensation Budget. NOTE: the Admin Tools Budget interface is intended for making common updates to the current configuration, and does not include ALL configuration options. There are some configurable elements under “Advanced Options” which may be configurable by you and/or the customer, but reflect complex changes to process. Use caution when making changes to Advanced Options and contact Customer Success if you have questions.
You can define the following attributes:
- Add Budget Calculation
- Delete Budget Calculation (Action > Take Action > Delete)
- Edit Budget Calculation Mode (Action > Take Action > Edit)
- From the popup screen set the values for:
- PercentOfCurSal (see example below)
- PercentOfMeritTarget (see example below)
- Use For (salary, bonus, stock, option)
- Components Stock
- Budget Value
- Based On (user, group, template, planner)
- Advanced options ...
- Include Ineligible Yes No
- Family Name
- Prorating Yes No
- Hide Precentage Yes No
- Import Key
- Base Custom Field
- Allocation Columns
- Use Final Payout For VP Budget Yes No
In the pop up screen, change the budget value to change the percent of a flat budget.
Change Scenario (most common):
- Compensation Administration > Manage Compensation Plan Template > Select Template > Budgets > Take Action > Edit > Edit Budget Calculation
- Here are some notes on the commonly used Mode options
Budget is configured as a Percent of Salary?
Customer needs to update the percent approved by the Board of Directors for the new plan year.
• Update the “Budget Value” to the approved percent.
PercentOfCurSal: Budget will take a percentage of the individual’s current salary. When the Based On is also set to “template” every individual that receives the template will be assigned the same budget value (indicated in the Budget Value section).
PercentOfMeritTarget: (or PercentOfLumpsumTarget): When the budget is based on a target, the administrator loads a target amount for each user in the employee import file. The budget will be based on that target amount. The most common budget value is 100, for 100%. This means that the budget will be based on 100% of the targets. See screenshot below.
PercentofCustomField - Budget will take a percentage of the defined custom field.
(Note: if the budget is from a custom field, the custom field has to be set as Reportable field. Same thing if the budget allocation (Allocation Columns) used a custom field, that custom field must be a Reportable field)
without 'Reportable' - Total = 0
with 'Reportable' - Total = Sum(value for allocation column) for the executive filter criteria selected.
- There are many ways to configure budget calculations. If your budget does not use one of the above methods and you are not sure how to make a change, please get guidance from SuccessFactors before making changes. Make sure you always TEST your changes.
- This and other updates within the “Manage Compensation Plan template” must be updated prior to the launch of forms.
- The change will not apply to live forms.
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