Compensation Elements refers to the rewards or salary paid to the employees in return for the work they do. It can be short term, long term, one term compensations. This also includes both monetary and non-monetary rewards. During the hiring process, the compensation element can be configured based on the position using the Recruitment App of Apptivo.
Albert is the Human Resource Manager. Based on the feedback from the employees in his team, he has decided to add the compensation elements for each position. This is to avoid any confusion while offering a position to the candidates. So, he asks the heads of all the departments to provide the information on the compensation element that can be offered. Once approved, the information can be added to the concerned position using Apptivo.
Steps to create Compensation Elements
- In the Recruitment App, go to the Settings → Recruitment → Compensation Elements. The Compensation Elements page appears in the right pane.
- Select Create to create a new Compensation Element.
- In the Create Compensation Element popup, add a name and description for the competency.
- Once the values are added, select Create.
- A new compensation element is created. You can click on the Edit icon to edit a compensation element.
- Select the Disable icon to keep an element inactive.
- Now, create a new position or open an existing position in the Recruitment App. In the Overview page, scroll down to the Compensation Element table.
- Select Add to add a new compensation element for the position. The Select Compensation Element pop up appears.
- Enable the toggle to add an element. You can also add the amount for the element of compensation and determine if it is one time, monthly, quarterly, or yearly.
- You can select more than one compensation element for a Position. Tick the Checkbox and select Add.
- The selected elements are added to the Compensation Element table.
