What is 'compensation review period' in SAP PA-EC - Enterprise Compensation Management?

compensation review period - Overview

• Component: PA-EC

• Component Name: Enterprise Compensation Management

• Description: Time interval during which a line manager is able to process a compensation review in SAP Manager Self-Service MSS.

compensation review period - Details

• 
  Key Concepts: 
  The compensation review period is a feature of the SAP PA-EC Enterprise Compensation Management component. It is a period of time during which an employee's compensation is reviewed and adjusted according to their performance. During this period, the employee's salary, bonuses, and other forms of compensation are evaluated and adjusted accordingly. 
  
  How to use it: 
  The compensation review period is typically set by the company and can be adjusted as needed. During this period, managers will review the employee's performance and make any necessary adjustments to their compensation package. The employee will then be notified of any changes that have been made. 
  
  Tips & Tricks: 
  It is important to ensure that the compensation review period is set up correctly in order to ensure that employees are receiving fair and accurate compensation for their work. Additionally, it is important to ensure that all employees are aware of the review period and what it entails so that they can prepare for any potential changes. 
  
  Related Information: 
  The SAP PA-EC Enterprise Compensation Management component also includes features such as salary planning, bonus planning, and performance management. These features can be used in conjunction with the compensation review period to ensure that employees are receiving fair and accurate compensation for their work.