What is compensation administration in SAP PA-EC - Enterprise Compensation Management?

SAP Term: compensation administration

• Component: PA-EC

• Component Name: Enterprise Compensation Management

• Description: The various processes related to remuneration planning and payment within your organization.

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• Key Concepts: 
  Compensation administration is a component of SAP's Enterprise Compensation Management (PA-EC) module. It is designed to help organizations manage their compensation processes, including salary planning, budgeting, and performance management. It also provides tools for analyzing and reporting on compensation data. 
  
  How to use it: 
  Compensation administration can be used to create and manage salary plans, budgets, and performance goals. It also provides tools for analyzing and reporting on compensation data. The module can be used to track employee performance and salary changes over time, as well as to compare salaries across different departments or locations. 
  
  Tips & Tricks: 
  When using the compensation administration module, it is important to ensure that all data is accurate and up-to-date. This will help ensure that the results of any analysis or reporting are reliable. Additionally, it is important to ensure that all employees are aware of any changes in their compensation plans or budgets. 
  
  Related Information: 
  The SAP Enterprise Compensation Management (PA-EC) module is part of the SAP Human Capital Management (HCM) suite of applications. It is designed to help organizations manage their compensation processes, including salary planning, budgeting, and performance management. Additionally, the module provides tools for analyzing and reporting on compensation data.