Workday Compensation

Managing compensation effectively can mean the difference between Key product areas
exceeding or missing your corporate objectives. From attracting the • Global plan management

right talent to rewarding employees based on the bigger picture, not just • Events coordination with core
Workday HCM
performance, Workday Compensation fosters collaboration and provides
• Collaborative, configurable
customers with the right tools for making optimal decisions across their
grid worksheet
organisation.
• Global market salary and
data comparison
Comprehensive compensation management • Management by compensation basis

• Flexible: Workday offers a highly configurable, global system that • Configurable compensation
statements
allows you to define compensation packages, plans, programmes, and
• Pay equity tracking
processes utilising data throughout Workday and the marketplace.
• Flexible pay-range segments
• Global: Use flexible location profiles and currency options to • Step-progression management
extend configurations around the globe. Workday Compensation
Key benefits
automatically adjusts global allowance plans based on changes made
• Align rewards with business
to salary while ensuring that allowance plans stay within statutory
objectives
limits.
• Eliminate integrations between:
›› Compensation
• Single technology: Eliminate integrations between siloed solutions
›› Payroll
with Workday Human Capital Management (HCM) to provide real- ›› Recruiting
time data for planning, analysis, and execution. ›› Talent and performance
›› Benefits
›› Core HR
Plan design
• Trigger impacts to compensation
Compensation plans automatically through employee
Empower your administrators to easily craft the plans necessary for your data changes in Workday core HCM

global organisation. Workday supports salary, hourly, unit salary, period • Provide visibility for top-level
managers throughout the entire
salary, allowance, unit allowance, merit, bonus, commission, stock, long-
merit process
term cash, future payment, one-time payment, and multiple one-time
• Employee referral bonus is tied
payment plans. to job requisition and automatically
paid out after a candidate is hired
Compensation packages
Easily combine multiple plans, grades, and compensation basis to create
global compensation packages. Apply grades with grade profiles, such as
job level within a specific geography, to provide comprehensive package
options. Drive plan assignments by utilising eligibility rules that reference
the worker’s job profiles and other attributes. Worker movement transacted
in Workday will automatically trigger plan and/or package assessment
depending on the eligibility rules you configure.
Compensation process Event management

Process configuration Business doesn’t stop during a compensation process.

No two organisations manage their compensation New hires, transfers, promotions, and terminations

processes in the same way. Workday supports your unique shouldn’t wait for your process to complete. Workday

approach with a framework that enables you to select allows customers to coordinate events through rules

the plan types to include, establish pools for each plan, which automatically handle these transactions, eliminating

manage holdbacks, and allow for lump sum adjustments the manual intervention traditionally associated with

and promotions as part of the compensation process. In compensation solutions.

addition, businesses can make adjustments to targets

during the merit process as performance results become
Insights
available.
Dashboard and reports

Insightful process flow Making decisions without all the information you need

The Workday business process framework (BPF) allows can be costly and time consuming. Workday provides

you to direct activities and attention to the appropriate executives, managers, and administrators with dashboards,

people throughout your compensation process. For actions audit trails, and the reports they need for comprehensive

ranging from approval of pools to final submission, analysis. Alerts and notifications on both desktop and

the BPF can be configured by your compensation mobile devices prompt users to take action. Harnessing

administrator to route approvals, notifications, and alerts. compensation data to provide a full picture of the

Relevant, contextual information, such as market survey organisation’s pay is effortless with the pay equity

data, talent data, and virtually any data in Workday, can dashboard, which gives you the ability to drill down and

also be served up to customers at the point of action so take action.

that decisions can be driven by data.

External data

Tailored worksheet Workday allows you to store and update data from other

When the process prompts managers to engage with systems and sources. Salary survey data, finance data for

their assessments, the worksheet experience is tailored customers not utilising Workday Financial Management,

for efficiency, ease, and insight. Utilising the Workday cost of living by location, and more can all be brought into

Configurable Grid, compensation administrators deliver Workday and used in penetration analysis, reports, and

an intuitive worksheet to managers that contains the data pay increase recommendations. Make smarter decisions

they require to make compensation recommendations, with greater insight using Workday for your compensation

complete with warning notifications to help keep teams management.

on budget. Additionally, top-level managers have visibility

“Prior to Workday, it took four
into their reporting managers’ organisations and can
complete merit tasks on behalf of their team. The smart
months to complete an entire merit-
panel feature on the grid can be configured to display and performance-review cycle.
specific worker attributes, providing managers with In Workday, this process has been
additional information. reduced to three weeks, or a 70 per
cent overall reduction.”
– Compensation administrator for
Fairchild Semiconductor

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