This feature allows you to create fields from computations and calculations involving other fields. You can then use these fields anywhere in People-Trak.
There are a wide variety of mathematical and character based operators that allow you to manipulate and concatenate fields. Derived fields are NOT stored in the HRIS database; they are derived when the report or letter is actually run. Derived fields can be placed on custom screens where they have a display-only status. This allows you to create and display various types of statistics. Some other examples of how you can use the derived fields feature:
- Vacation Value (PTO Hours available x hourly pay) = Current dollar value of PTO
- Benefit Eligibility Date (Hire Date + 90) = Date employee is eligible for benefits
- Address Block = Full name, Address 1, Address 2, City, State Zip
- 3% Pay Increase (Annual Pay x 3%) = Pay if employee was to get a 3% raise… (think COLA)