Default and Hourly Rate Precision Behaviors

Default and Hourly Rate Precision settings are applied to the entire Compensation module:

  • For standard tasks, precision settings are locked for the compensation task at the task Start Date. If the precision settings are updated, changes are not reflected in subsequent drafts of an open compensation task. However, if the task is not yet submitted, any precision settings are implemented until the task is submitted.
  • For off-cycle tasks, precision settings are locked for the compensation task at the time the task is launched. If the precision settings are updated, changes are not reflected in subsequent drafts of the same instance of the off-cycle task. However, if the task is not yet submitted, any precision settings are implemented until the task is submitted.
  • Precision settings are saved for each compensation task for the purpose of reporting, viewing historical task details, and past compensation statements.
    • Task-based compensation reports display currency amounts based on precision settings for the task.
    • Viewing task data (e.g., Compensation Task Details) in the system and in compensation statements for past tasks displays currency amounts based on precision settings at the time of the task.
  • Reports and statements on "Current" compensation fields or on non-task based compensation reports use the current precision settings when outputting currency amounts.
  • All user interface elements and report outputs that are not tied to a task display currency amounts based on the current precision settings.
  • Custom formula conditions are enhanced to follow the precision settings.
    • If the currency amount or compensation component is in an hourly rate and is being used as a clause in an IF statement, it is rounded based on the organization's default currency's hourly precision value before applying the comparison. Note: The organization's default currency's hourly precision value is used because all conditions are created in the Compensation Administration section.
    • If a currency amount or compensation component is in an annual rate and is being used in a clause in an IF statement, it is rounded based on the organization's default currency's default precision value before applying the comparison.

If hourly precision settings are changed at any point, fields that contain currency amounts in an hourly range are affected. If the precision setting is decreased, the currency value is rounded to accommodate the lower precision. If the precision setting is increased, additional zeros are added to the end of the currency value. For example:

  • An adjustment guideline recommends a rate increase of $1.56 when the hourly precision is 2, but the hourly precision is increased to 3. When reopening the guideline, the recommendation is now $1.560. Employees that are within that guideline also see the modified value for their merit recommendation. If the Hourly Rates Precision is modified, all new tasks use the new precision value, but existing tasks are unaffected.
  • An adjustment guideline recommends a rate increase of $1.567 when the hourly precision is 3, but the hourly precision is decreased to 2. When reopening the guideline, the recommendation is now rounded to $1.57. Employees that are within that guideline also see the modified value for their merit recommendation. The system preserves the decimal values for recommendations, so if the precision is later increased back to three, the recommendation reverts back to $1.567. If the Hourly Rates Precision is modified, all new tasks use the new precision value, but existing tasks are unaffected.