Compensation

Compensation

Compensation

Ability to offer competitive compensation packages, ability to handle global regulations and global employee and uses a single system for compensation

Compensation Grades

Provides pay range guidelines as references

Compensation Package

A grouping of compensation guidelines (grades, grade profiles, and their associated steps) and plans that you can assign to workers as a set. Packages provide a quick view of eligible plans for a particular job or group of employees.

Compensation Eligibility Rules

Determines an employees eligibility for a compensation component during staffing events

Compensation Plan

A component for which an employee is paid and for what purpose (ex. salary, hourly, allowance)

Compensation Element

Required component to link compensation in HCM with Payroll to ensure accurate payroll earnings

Compensation Grade Profile

allows localization of pay range guidelines

Compensation Element

Required component to link compensation in HCM with Payroll to ensure accurate payroll earnings

Supplemental Earning

Any compensation paid in addition to an employee's regular wages that includes, but is not limited to, severance or dismissal pay, vacation pay, back pay, bonuses, moving expenses, overtime, taxable fringe benefits, and commissions. In Workday, only supplemental earnings can be grossed-up.

Base pay element

The compensation components that are included in the calculation of base pay for the purposes of determining the compa-ration and target penetration. Example: include both this and bonuses in the base pay calculation for compa-ratio.

Compensation basis

A grouping of compensation components, such as salary, commission and allowance plans, that define estimated earnings for an employee population.

Compensation component

An umbrella term for compensation packages, grade, grade profiles, and plans that can be associated with compensation eligibility rules.

Compensation defaulting rule

A rule that establishes the criteria for how compensation components default worker compensation during staffing transactions (such as a hire or job change)

Compensation element

These link Compensation to Payroll. When this is attached to a plan that is assigned to an employee, Workday can determine which earnings to use to pay the employee.

Compensation rule

Guidelines for determining which workers are eligible for which components of compensation.

Compensation Target rule

A rule used to segment your employee population for assignment of compensation plans.

Compensation Step

A specific monetary amount within a grade or grade profile.

Reference Pay Range

A range of pay deemed appropriate for a compensation grade or grade profile. During compensation transactions, if proposed compensation for an employee extends beyond the limits of the range for the employee's grade or grade profile, Workday issues a warning yet still permits submission of the proposed compensation.