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

SAP Term: Employee Central Compensation

• Component: LOD-SF-EC

• Component Name: Employee Central

• Description: A feature used in to show users their current compensation on their profile, which may include data from Compensation Information, Pay Component Recurring, Pay Component Non-Recurring, as well as one-time or recurring deductions.

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• Key Concepts: 
  Employee Central Compensation is a component of the SAP SuccessFactors Employee Central suite. It is a cloud-based solution that enables organizations to manage their compensation processes in an efficient and cost-effective manner. It provides a comprehensive set of tools to help organizations manage their compensation plans, including salary planning, bonus planning, and performance management. It also provides a range of analytics and reporting capabilities to help organizations make informed decisions about their compensation strategies. 
  
  How to use it: 
  Employee Central Compensation can be used to manage the entire compensation process from start to finish. It allows organizations to create and manage salary plans, bonus plans, and performance management plans. It also provides a range of analytics and reporting capabilities to help organizations make informed decisions about their compensation strategies. Additionally, it provides a range of tools to help organizations manage their compensation processes, such as budgeting, forecasting, and compliance management. 
  
  Tips & Tricks: 
  When using Employee Central Compensation, it is important to ensure that all data is accurate and up-to-date. This will ensure that the system is able to provide accurate analytics and reporting capabilities. Additionally, it is important to ensure that all users are properly trained on how to use the system in order to maximize its effectiveness. 
  
  Related Information: 
  For more information about Employee Central Compensation, please visit the SAP SuccessFactors website at https://www.sapsuccessfactors.com/solutions/employee-central-compensation/. Additionally, there are a number of online resources available that provide additional information about the system and how it can be used effectively.