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

SAP Term: compensation status

• Component: PA-CM

• Component Name: Compensation Management

• Description: A means of monitoring the various compensation items during the compensation process.

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• Key Concepts: 
  Compensation status is a feature of the SAP PA-CM (Compensation Management) component. It is used to define the current status of an employee's compensation, such as whether it is pending, approved, or rejected. This status can be used to track the progress of an employee's compensation and ensure that it is properly managed.
  
  How to use it: 
  The compensation status can be set by the HR department or other authorized personnel. It can be changed at any time depending on the progress of the employee's compensation. The status can also be used to trigger notifications or other actions when it is changed.
  
  Tips & Tricks: 
  It is important to keep track of the compensation status for each employee in order to ensure that their compensation is properly managed. It is also important to ensure that the correct status is set for each employee so that notifications and other actions are triggered correctly.
  
  Related Information: 
  The SAP PA-CM component also includes features such as salary planning, bonus planning, and performance management. These features can be used in conjunction with the compensation status to ensure that employees are properly compensated for their work.