Whatsapp
💰 Creating compensation grades involves defining currency, frequency, and range segments, with the option to automatically calculate values.
📊 Compensation bases can be associated with grades, allowing for customization based on total compensation.
🔄 Values entered are automatically converted into the preferred currency set by the end user in their profile settings.
Here are the summary titles with time for the provided video information:
Introduction to Compensation Grades 00:00
Â
Creating Compensation Grade Segments 02:37
A: A compensation grade profile is required in organizations to define the salary range for different positions, ensuring consistency and fairness in compensation practices.
A: To create a simple compensation grade in Workday, you need to define the currency, frequency, minimum and maximum range, and optionally associate it with compensation basis. Workday can also automatically calculate segment values for you.
A: Associating compensation basis with a compensation grade allows organizations to differentiate between base pay and total compensation ranges for employees, providing a comprehensive view of the compensation structure.
A: Workday automatically converts values entered in different currencies into the preferred currency of the end user, ensuring consistency and accuracy in compensation calculations across the organization.
SailPoint