What is compensation planner in SAP LOD-SF-CMP - Compensation Management?

SAP Term: compensation planner

• Component: LOD-SF-CMP

• Component Name: Compensation Management

• Description: A user, usually the direct manager and/or second-level manager, who has the permissions to make compensation recommendationss on a compensation form.

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• Key Concepts: 
  Compensation Planner is a component of SAP SuccessFactors Compensation Management. It is a tool that helps organizations to plan, manage, and track their compensation processes. It enables users to create and manage compensation plans, set up compensation cycles, and track employee performance. It also provides insights into the effectiveness of the compensation plans and helps to identify areas for improvement. 
  
  How to use it: 
  Compensation Planner can be used to create and manage compensation plans. It allows users to define the criteria for each plan, such as salary ranges, bonus amounts, and other incentives. It also allows users to set up compensation cycles and track employee performance. Additionally, it provides insights into the effectiveness of the compensation plans and helps to identify areas for improvement. 
  
  Tips & Tricks: 
  When creating a compensation plan, it is important to consider the goals of the organization and the needs of the employees. Additionally, it is important to ensure that the plan is fair and equitable for all employees. Finally, it is important to review the plan regularly to ensure that it is still meeting the needs of the organization and its employees. 
  
  Related Information: 
  For more information on Compensation Planner, please refer to SAP’s official documentation on Compensation Management. Additionally, there are several online resources available that provide tips and tricks for using Compensation Planner effectively.