A "Floating Percentage Band" Banding Scenario is a unique Banding Scenario, that is generally only used for Pay Equity purposes, where it essentially creates individual bands for each Job Class and more specifically each female job class. This is done by taking the point total of each Job Class and creating a band that is x percentage points above the total points and x percentage points below total points, thus essentially creating the same number of bands in your organization as unique point totals.
Job Class A evaluated at 500 points
Floating Percentage: 7.5%
Band for Job Class A: 465.5 to 537.5
Any male Job Classes evaluated within the band above could be a potential Pay Equity Comparator, but could also be a comparator for a female Job Class with a different evaluated point total.
How to Create:
After clicking the + Add Banding Scenario button start by naming your banding scenario in the Name field. The Name is a simple field that is used so you can recognize the banding scenario in the future after it has been created. Next select "Floating Percentage Band" from the drop down menu under the "Banding Type" header.
The pop-up window will now customize to the Floating Percentage Band type.
In the "Floating Percentage (%)" field enter percentage value (as a percent).
Once completed select click the ADD button.
Your scenario will now appear in the Banding Table and you view it by clicking the DETAIL button in the row beside the newly created scenario.