Increment & Promotion
Calculating overtime is an essential task when determining compensation for employees. Overtime must be paid by law to certain employees who work more than eight hour in a day. Overtime pay usually only applies to non-exempt workers, that is, workers who are not exempt from regulations. SmartHCM offer automatic overtime calculation and with approval of supervisors / manager.
SmartHCM provides advance features of overtime calculation;
- Fixed Rate, User defined Overtimes rates, Special Overtime Scales Table.
- Advance Overtime (prior to start of work shift)
- Post Overtime (after the end of the work Shift).
- Actual overtime hours validation against approved overtime with lower value.
- Setup of minimum hours overtime and succeeding minutes thereafter.
- Generates Approved Overtime Sheet of employee per cost-center.
More talented workers are usually more productive higher up in organizational hierarchies. Promotions assign workers to jobs better suiting their abilities and quickly move up talented workers.
SmartHCM enables processing of employee salary increments. You can compute both annual and promotional increment.
SmartHCM Retroactive / Back-Dated Payment ensures that your payroll run for the current period reflects any backdated payments and deductions from previous payroll periods.
Managers or supervisors often perform annual reviews of their employees; during this time, they decide whether to give employees a raise. If the salary increase is effective during a prior pay period, the employee is due retroactive pay. You need both the old and new salary numbers to calculate retroactive pay.