WeCreativez WhatsApp Support
Our customer support team is here to answer your questions. Ask us anything!
Whatsapp
Hi, how can I help?
cloudcertification
Menu

Workday Compensation- 1. Introduction

Menu
Compensation Introduction
Compensation Grade
Maintain Currency
Free Video - 4
Free Video - 5
FULL COURSE

Workday Compensation Training Highlights

💰 Compensation guidelines define the minimum and maximum compensation an employee is eligible for.

📝 Different plans in Workday include salary plans, hourly plans, allowances, commissions, and ad hoc plans.

🌍 Compensation basis allows defining how employees' compensation is represented based on country or employee type.

🔄 Compensation packages help manage compensation through various business processes in Workday.

💼 Advanced compensation in Workday includes the Merit review process.

Workday Training - Key moments

Here are the summary titles with time for the provided video information:

  • Introduction to Advanced Compensation 00:00

    • The course covers core compensation and advanced compensation, discussing topics like compensation elements, grades, profiles, plans, and the interaction between workday compensation and payroll.
    • Compensation guidelines are explained as rules defining the minimum and maximum compensation an employee is eligible for based on various parameters.
    • Different plans in workday score compensation are outlined, including salary plans, hourly plans, allowances, commissions, ad hoc plans, and calculated plans.

 

  • Detailed Overview of Compensation Plans 02:18

    • Various compensation plans like salary plans, hourly plans, commissions, and calculated plans are discussed in detail.
    • The concept of compensation basis is introduced to define compensation for different employee populations based on factors like employee type or country.
    • Compensation package management is explained, covering business processes like one-time payment requests, compensation change requests, and mass rollout of compensation plans.

 

  • Advanced Compensation and Merit Review Process 04:47

    • Workday offers additional plan types in advanced compensation, focusing on the Merit review process.
    • Advanced compensation deals with managing compensation beyond core components, providing insights into handling merit reviews and related processes.

Workday Training FAQ’s

Q: What are the key components that go into building different compensation components in Workday?

A: The key components include grades, profiles, different plans, and the interaction between Workday compensation and payroll.

Q: What are compensation guidelines in Workday, and how are they used?

A: Compensation guidelines are a set of rules that define the minimum and maximum compensation an employee is eligible for based on parameters like employee type or location.

Q: What types of plans are part of Workday's core compensation, and how do they cater to different compensation requirements?

A: Workday’s core compensation includes salary plans, hourly plans, allowances, commissions, ad hoc plans, and calculated plans to handle various compensation needs such as seniority allowances.

Q: How does Workday's compensation basis tool help in representing employees' compensation in different countries or employee populations?

A: The compensation basis tool allows users to define how employees’ compensation, based on specific employee types or countries, is represented. It helps customize compensation descriptions based on different regions or employee categories.

SailPoint

Connect with CloudCertification