Projections – PeopleWerks HR https://www.peoplewerkshr.com Comprehensive HR Management Solution Mon, 21 Dec 2020 14:49:54 +0000 en-US hourly 1 https://wordpress.org/?v=5.8.2 https://www.peoplewerkshr.com/wp-content/uploads/2020/07/favicon-ico.png Projections – PeopleWerks HR https://www.peoplewerkshr.com 32 32 Salary Projections https://www.peoplewerkshr.com/knowledge-base/salary-projections/ Mon, 21 Dec 2020 14:45:09 +0000 https://www.peoplewerkshr.com/?post_type=epkb_post_type_1&p=1212 Using the Projections section in the Fiscal menu,  you can run different salary scenarios for future years without affecting current year salary data.  Start by resetting the data to the current year and then model one or more subsequent years for the increases you want to analyze.  As you make changes, the system updates the future […]

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]]> Using the Projections section in the Fiscal menu,  you can run different salary scenarios for future years without affecting current year salary data.  Start by resetting the data to the current year and then model one or more subsequent years for the increases you want to analyze.  As you make changes, the system updates the future salary amounts in the job listing.  To do the modeling, follow these steps, performing whichever steps are applicable to your model:

  1. Search Criteria: Select the employee job assignment group that you want to model by clicking on the Select Jobs for Modeling button.
  2. Modeling Reset and Configuration:  Reset salaries to the current year by clicking on the Reset Salaries button if you are beginning the modeling process.
    Enter the fiscal year for the year you are modeling so it will print on the projection reports.
  3. Salary Schedule Changes:  Make salary schedule changes by clicking on the Edit Schedules button.  Print the revised schedule for your reference.
  4. Base Pay Changes:  Make any base changes for indexed salary schedules by clicking on the Edit Base Pay button.
  5. Salary Step Changes: Make salary step changes by entering minimum work days, if needed, and clicking on the Increase Steps+1 button.
  6. Percent Salary Increase:  Make salary percentage changes for those jobs that are not on a salary schedule by entering the percent and then clicking on the Update Salaries button.

If you have made changes but they do not appear in the listing, click on the Refresh Future Salaries button at the bottom right corner of the screen.

Click on the Future Salary Reports button and select the reports for printing to paper or pdf.  The data can also be exported to Excel by clicking on the Export Salary Summary button.

After running the model for the first year, then repeat the process for subsequent years but do not reset salaries in step 2.

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