What is compensation review in SAP PA-CM - Compensation Management?

SAP Term: compensation review

• Component: PA-CM

• Component Name: Compensation Management

• Description: A compensation review helps you determine the set of compensation plans to be processed within a specific timeframe. A compensation review may include salary adjustments, various bonuses and long-term incentives LTIs.

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• Key Concepts: 
  Compensation review is a process in SAP's PA-CM Compensation Management component that allows managers to review and adjust employee compensation. This process includes the ability to review salary, bonus, and other compensation elements, as well as the ability to make adjustments to those elements. The goal of the process is to ensure that employees are fairly compensated for their work.
  
  How to use it: 
  To use the compensation review process in SAP's PA-CM Compensation Management component, managers must first log into the system and navigate to the compensation review page. From there, they can view a list of employees and their current compensation elements. Managers can then make adjustments to any of these elements as needed. Once all adjustments have been made, the manager can save the changes and submit them for approval.
  
  Tips & Tricks: 
  When using the compensation review process in SAP's PA-CM Compensation Management component, it is important to keep in mind that any changes made must be approved by a higher-level manager before they can take effect. Additionally, it is important to ensure that all changes are fair and equitable for all employees.
  
  Related Information: 
  For more information on SAP's PA-CM Compensation Management component and its compensation review process, please refer to SAP's official documentation or contact your local SAP representative.