What is compensation in SAP LOD-SF-EC - Employee Central?

SAP Term: compensation

• Component: LOD-SF-EC

• Component Name: Employee Central

• Description: The total of the benefits provided to an employee in return for work performed as required.

Smart SAP Assistant

• Key Concepts: 
  Compensation in SAP Employee Central is a feature that allows employers to manage their employees’ salaries and other forms of compensation. It includes features such as salary planning, salary reviews, and bonus payments. It also allows employers to track and manage employee benefits such as vacation time, sick leave, and other types of leave. 
  
  How to use it: 
  To use the compensation feature in SAP Employee Central, employers must first set up the compensation plan. This includes setting up salary bands, salary reviews, and bonus payments. Once the plan is set up, employers can then enter employee information such as salary, bonuses, and other benefits. This information can then be used to generate reports and analyze employee performance. 
  
  Tips & Tricks: 
  When setting up the compensation plan in SAP Employee Central, it is important to ensure that all of the necessary information is entered accurately. This will help ensure that employees are paid correctly and that all of their benefits are tracked properly. Additionally, it is important to review the compensation plan regularly to ensure that it is up-to-date with any changes in the organization’s policies or procedures. 
  
  Related Information: 
  For more information on how to use the compensation feature in SAP Employee Central, please refer to the official documentation provided by SAP. Additionally, there are many online resources available that provide tips and tricks for using this feature effectively.