Create Formulas for Annual Salary Increase in 5-Year Plans
This article includes suggestions and workarounds. Content may not be accurate for all use cases or represent best practices for the latest release.
Question
I am building a 5 year plan and
need to include annual salary increases for all staff in July of each year. I have this
as my salary formula:ROW.PartialHeadcount* if(ROW.Per="hr",ROW.HrPerWeek*(2080)/(480), 1/12) *
ROW.PayRate * (1+ASSUM.DC_Staff.RaisePct)
5% is entered in the assumptions for the raise amount in each cell from July
2010 to December 2015.
- If I put a 1 in the Raise Month each July, the salary increases for the month of July, then reverts back each August.
- If I put a 1 in the Raise month each month from July 2010 to December 2015, I get a 5% raise in July 2010 then a 5% raise each January.
- If I do not put anything in the Raise Month, each individual receives a 5% raise on the anniversary of their hire.
How do I need to amend the formula to only give the raise annually each
July?
Answer
There is logic built into the
default Pay Rate formula that accounts for this:if((versionmonth(this) > 0) and ROW.Headcount>0 and
(((versionmonth(this) - versionmonth(ROW.StartDate) > 1) and
ASSUM.Personnel.RaiseMonth
= 0 and fiscalmonth(this) =
fiscalmonth(ROW.StartDate)) or
(ASSUM.Personnel.RaiseMonth
=month(this))),ROW.PayRate[time=THIS-1]*ASSUM.Personnel.RaisePct,
0)The Pay Rate account is a cumulative plan by balance account. If you want to give
all employees a raise in July, add "7" into the Raise Month Assumption starting in
July 2010 and copy the value forward. Then add 5% in July 2010 and copy it forward.
This should give you the results that you expect. Make sure that you also change the
salary account back to the default formula as well.