With the October ’20 Release, Cornerstone is introducing the new Employee Compensation for administrators. In this release, Employee Compensation is the central hub for administrators to view salary history, and in the future, all compensation records for each employee. Employee Compensation is part of the multi-release Compensation 2.0 initiative and is a major milestone towards that experience.
With the new Employee Compensation screen, administrators can see the context around employee salary history, their organizational units (OUs), and easily edit and create new records. Employee Compensation includes added real time calculations for annual equivalency, so administrators can easily adjust custom annual equivalencies for employees with unique pay schedules that sit outside the default set in Wage Types. When creating a new employee compensation record, information that is already known about the employee, such as their Currency, Wage Type, and Annual Equivalency, is retained to save time in creating a new Salary Amount.
To access the Employee Compensation page, go to.
|PERMISSION NAME||PERMISSION DESCRIPTION||CATEGORY|
|Employee Salary Management - View||Grants access to the Employee Salary Management page view users' salaries or rates. This permission can be constrained by OU, User's OU, and User. This is an administrator permission.||Compensation - Administration|
|Employee Salary Management||Grants access to the Employee Salary Management page to edit, add, and view users' salaries or rates. This permission can be constrained by OU, User's OU, and User. This is an administrator permission.||Compensation - Administration|
The employee information includes the following information for the employee:
- Last Hire Date
Clickto open the flyout to create new salary information for an employee. When you complete the fields, the information appears as a row in the Salary/Rate table.
The Salary/Rate table contains the following information for an employee:
- Effective Date - The effective date for the salary or rate. Each salary or rate entry in the table must have a unique effective date. Entries in this table are sorted by effective date from newest to oldest.
- Compensation Type - The type of compensation change.
- Wage Type - Options are Monthly or Hourly.
- Amount - The user's salary or rate.
- Currency - The currency of the employee's salary or rate.
- Annual Equivalency - The equivalent annual and hourly rates. For example, if the rate is Annual, then the table displays the annual rate and the hourly rate based on 2080 labor hours per year. If the rate is Hourly, then the table displays the hourly rate and the annual rate based on the number of labor hours that is specified.
- Click Delete to delete salary/rate information. When salary/rate information is deleted, the record is:
Removed from Employee Compensation.
Not used for any current or future task.
Not in custom reports or reporting 2.0.
- Click Edit to open the fly-out to make changes to an employee's salary information.
Starter Guide/Adoption Kit
- The new Employee Compensation experience meets feature parity and administrators will have the same level of access as they had in the legacy Employee Salary Management.
- The new experience leverages Edge Import and does not support Data Load Wizard (DLW) Salary loads and feeds or custom feeds.
- Migration to the new experience is October 7 in Stage and October 30 in Production/Pilot for the following clients:
- Client does not use a Salary load or feed (DLW, Edge Import, or custom feed)
- Client does not use Auditing for modification changes to salary records
- What will occur?
- The new Employee Compensation for Salary Records is enabled.
- Edge Import – Salary Load is enabled.
- The legacy Employee Salary Management experience is disabled.
- Data Load Wizard – Salary load is disabled.