Component: LOD-SF-EC
Component Name: Employee Central
Description: A onetime additional payment in recognition of something particularly noteworthy that an employee has done.
Key Concepts: Spot bonus is a feature in SAP SuccessFactors Employee Central that allows employers to reward employees with a one-time bonus payment. This bonus is typically given for exceptional performance or for achieving a specific goal. The bonus amount is determined by the employer and can be paid out in cash or in kind. How to use it: To use the spot bonus feature, employers must first set up the bonus plan in the system. This includes defining the criteria for awarding the bonus, such as performance goals or specific achievements. Once the plan is set up, employers can then award bonuses to employees who meet the criteria. The bonus amount is then added to the employee’s salary and can be paid out in cash or in kind. Tips & Tricks: When setting up a spot bonus plan, employers should consider how they will track and monitor the bonuses awarded. This will help ensure that bonuses are awarded fairly and consistently across the organization. Additionally, employers should consider how they will communicate the bonus plan to employees so that they understand what is expected of them and how they can earn a bonus. Related Information: For more information on setting up and using spot bonuses in SAP SuccessFactors Employee Central, please refer to the official documentation here: https://help.sap.com/viewer/product/SAP_SUCCESSFACTORS_EMPLOYEE_CENTRAL/Cloud/en-US/f9f8d7a2b3e14c8a9f3d7c2b6f5e4d1a.html
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