Workday Advanced Compensation
Advanced Compensation allows you to manage every piece of the process in a single system with one source of data
- Introduction to Workday Advanced Compensation
- Merit Process
- Assess methods to configure and process merit, bonus, and stock plans.
- Understand the key concepts of Advanced Workday Compensation.
- Learn how to set up, create merit plans and custom merit statements.
- Demonstrate successful merit, bonus, and stock process as a compensation administrator and manager, STOCK Process
- Compensation Basis
- One Time Payment
About Workday Advanced Compensation?
Workday Compensation enables administrators to use real-time data throughout Workday to define reward packages, plans, programs, and processes, allowing enterprises to put insights into action. … maintain multiple compensation survey vendors, products, and surveys. Advanced Compensation allows you to manage all parts of a process in a single system with one data source. If your company handles some regular bonuses or increased benefits (such as adjusting your living expenses),
Workday Advanced Compensation is the easiest tool to use.
What is a reward base? Compensation criteria group different components together to define the estimated revenue for different populations. For example, the following two compensation criteria are: Target Revenue US – Includes payroll plans, housing allowances, commission plans, and bonus plans. The various types of compensation include:
Bonus, profit sharing, merit pay.
Travel / meal / housing allowance.
Benefits such as dentistry, insurance, medical care, vacations, vacations, retirement benefits, taxes, etc.
What are the four types of compensation?
Four main types of direct compensation: hourly wage, salary, commission and bonus. When asking about compensation, most people want to know about direct compensation, especially basic and variable compensation.
Who can learn workday?
- Graduates and Professionals looking to move to Workday Advanced Compensation
- Functional Lead
- Workday Administrators
- Managers and Employees
- Project Managers
- IT Experts
- Freshers Generalists.
- IT Professionals.
- Managers and Employees.
- Project Managers.
- Security Personnel and.
- System Administrators.
- Professionals in Testing field
- Software Developers
- Professionals from Analytics background
- Data warehousing Professionals
- Professionals from SAP BI background.
WORKDAY ADV. COMPENSATION ONLINE COURSE – UPCOMING BATCHES
|JUN 05th||SAT & SUN (6 WEEKS) Weekend Batch||Timings – 07:00 AM to 10:00 AM (IST)|
|JUN 06th||SAT & SUN (6 WEEKS) Weekend Batch||Timings – 07:00 AM to 10:00 AM (IST)|
|JUN 07th||SAT & SUN (6 WEEKS) Weekend Batch||Timings – 07:00 AM to 10:00 AM (IST)|
|JUN 08th||SAT & SUN (6 WEEKS) Weekend Batch||Timings – 07:00 AM to 10:00 AM (IST)|
Workday Adv. Compensation Training Demo
Workday Adv. Compensation Online Training Course Content Total: 16 Chapters Total hours: 30:35:47
- Setup Merit Plans
- Create Merit Plans
- Create Custom Merit Statements
- Initiate Merit process
- Manage multiple compensation Events during merit process
- Change Merit pools
- Distribute Merit polls to organizations
- Launch Employee Merit Awards
- Propose Employee Merit Awards
- Review promotions in Merit Process
- Approve Employee Merit Awards
- Release Merit Statements
- Request Merit Adjustment Using EIB
- Setup Bonus Plans
- Create Deferred Bonus calculations
- Create Bonus Plans
- Create future payment plans
- Create future payment plans and True ups
- Steps: Pay for company performance
- Create compensation score cards
- Create compensation score card results
- Company performance options
- Assign future payment plans to employees
- Calculate outstanding balances for future payment plans
- Recind Bonuses for individual employees.
- Steps: Setup Eligible earnings overrides for Bonuses
- Crete Eligible earnings overrides for Bonuses
- Give Bonuses to Multiple Employees
- Steps: Request Bonus Payment Using EIB
- Steps: Set Up Stock Plans
- Create Stock Plans
- Request Stock Grants
- Add Stock Grants
- Initiate Stock Processes
- Manage Multiple Compensation Events During Stock Processes
- Change Stock Pools
- Distribute Stock Pools to Organizations
- Launch Employee Stock Grants
- Propose Employee Stock Grants
- Approve Employee Stock Grants
- Update Stock Grants
- Steps: Request Stock Grant Using EIB
- Steps: Update Stock Grants Using EIB
- Steps: Manage One-Time Payment
- Create One-Time Payment Plans
- Request One-Time Payments for Employees
- Steps: Request One-Time Payment Using EIB
- Create Configurable Compensation Basis
- Create Calculation Compensation Basis
- Concept: Compensation Basis