This article is intended for: Editors of the Personnel Budgeting module.
Use this article when: You need support with Additional Pay/Benefit calculations.
- Enter a Name.
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Enter the Monthly Premium and Dollar Amount covered and/or Percentage Covered.
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If you enter only a dollar amount covered, the total is calculated using this formula:
(Monthly Premium Amount - $Covered) x 12 months = Total Annual Amount -
If you enter only a percentage covered, the total is calculated using this formula:
(Monthly Premium Amount * %Covered) x 12 months = Total Annual Amount -
If you enter both a percentage covered AND the dollar amount covered, the total is calculated using this formula:
((MonthlyPremium - $Covered) * %Covered) x 12 months = Total Annual
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If you enter only a dollar amount covered, the total is calculated using this formula:
- Select the Unit Assignment(s) to which the additional pay rule applies. You’ll add this rule to specific roles later in the process.
- Enter any additional Notes (optional).
Pro Tip: When applying a benefit to a vacancy, the most expensive option will be used. This way, you are ensured to have enough money to pay the top-end employee.
What are Benefits?
Learn more with this article: FAQ: What is a Benefit?
Have more questions or need assistance?
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