What is 'compensation structure type' in SAP SRD-HR-CMS - HCM-Compensation?

compensation structure type - Overview

• Component: SRD-HR-CMS

• Component Name: HCM-Compensation

• Description: A category of possible remuneration ranges available for employees. Types of compensation structures include: range-based – a compensation structure constructed of a series of compensation ranges, ranked in order from minimum to maximum according to maximal value of each range. point-based – a compensation structure constructed of a series of discrete points, also arranged from minimum to maximum value.

compensation structure type - Details

• 
  Key Concepts: 
  Compensation structure type is a feature of the SAP HCM-Compensation component. It is used to define the different types of compensation structures that can be used in an organization. This includes salary, bonus, and other types of compensation. It also allows for the creation of custom compensation structures that can be tailored to the specific needs of an organization. 
  
  How to use it: 
  The compensation structure type feature can be accessed through the SAP HCM-Compensation component. Once accessed, users can create new compensation structures or modify existing ones. They can also assign different types of compensation to each structure, such as salary, bonus, and other types of compensation. 
  
  Tips & Tricks: 
  When creating a new compensation structure type, it is important to consider the needs of the organization and its employees. This will ensure that the structure is tailored to their specific needs and will help ensure that employees are compensated fairly and appropriately. 
  
  Related Information: 
  For more information on SAP HCM-Compensation and its features, please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed information on how to use this component and its features.