What is 'flexed value' in SAP PA-BN-FB - Flexible Benefits?

flexed value - Overview

• Component: PA-BN-FB

• Component Name: Flexible Benefits

• Description: Total value cost of the flexible benefits chosen. The flexed benefits are those chosen by the employee during flexible benefits enrollment.

flexed value - Details

• 
  Key Concepts: 
  Flexed value is a term used in the SAP PA-BN-FB Flexible Benefits component. It is a type of benefit that allows employees to choose from a range of options, such as additional vacation days, health insurance, or other benefits. The flexed value is the total amount of money that an employee can use to purchase these benefits. 
  
  How to use it: 
  The flexed value is determined by the employer and can be adjusted depending on the employee's salary and other factors. The employee can then use the flexed value to purchase benefits from a list of options provided by the employer. The employee can also choose to save some or all of the flexed value for future use. 
  
  Tips & Tricks: 
  When setting up the flexed value, employers should consider their employees' needs and preferences when selecting benefits. Employers should also consider how much money they are willing to allocate for each benefit and how much flexibility they want to give their employees in terms of choosing benefits. 
  
  Related Information: 
  The SAP PA-BN-FB Flexible Benefits component is part of the SAP Human Capital Management (HCM) suite. It allows employers to manage their employees' benefits in an efficient and cost-effective way. It also provides tools for tracking and reporting on employee benefit usage.