Chapter 34: Salary Matrix.......................................................................................
The salary matrix window is like a spreadsheet that allows you to define
low-, mid- and high-range pay levels within your organization. By creating
and using one or more salary matrices, you can track employee salary
amounts that are within and outside of an employee’s pay code and salary
amounts.
You can define several salary tables or matrices that outline salary and pay
grade information. You can then link the salary matrices to specific
positions and pay codes within your company. You also can update salary
information to reflect percentage or fixed-amount changes to the pay rates
stored in the matrices.
Once you’ve linked figures for low-end and high-end salaries to a pay code,
a message will appear when you enter pay rates that are lower or higher
than the standards set for a particular pay code.
For example, suppose the high end salary for a supervisor salary pay code
in your company is $40,000 per year, and the low end salary is $23,000.
Once you attach these figures to your position definition and try to enter a
salary of $22,500 for any supervisor, the message “Pay rate is outside of the
Salary Matrix” will be displayed. You can still change the employee’s pay
code, but you also will know the new range is outside of the salary matrix
ranges.
This information is divided into the following sections:
- Adding a salary matrix
- Modifying or deleting a salary matrix
- Updating salary matrices
Adding a salary matrix
Use the Salary Matrix window to create a salary matrix. A salary matrix can
have multiple rows and columns of information. For example, if your
company has a salary matrix for production workers, your column
headings might be 0-2 months, 3-6 months, 7-12 months and 13-24 months
and your row headings might be Labor Grade 2, Labor Grade 4, Labor
Grade 6 and Labor Grade 8.
