Two significant enhancements were delivered today for a major client

• You can now include percent-type compensation elements within a group making up another percent-type compensation. For example if social security payments are 10% of regular salary then a pay element for social security of value 10% will be applied to a compensation group including regular salary, calculating the social security payment as 10% of regular salary. But if a bank, tax or financing change is 5% of the regular salary and social security payment combined, now you can define a compensation group with regular salary and social security payment together and apply a third pay element for finance or bank charges of 5% to this combined group. So if the employee’s regular salary is $1000 / month the social security payment would be $100/month and finance or bank charges would be $55/month
• You can also define compensation elements for fixed charges spanning the entire duration of the employee’s job, for example to cover the cost of flying a consultant out to an international engagement or a visa processing fee. iBE calculates the duration of the job in calendar months and divides up the fixed charge by this number of months to calculate a monthly equivalent cost