Designing the right compensation programs to motivate your workforce, reward performance, and retain key employees is more critical now than ever. Individual compensation needs to be based on both individual and business performance to ensure that individual and business goals are aligned. Workday Compensation allows companies to pay for performance and create, manage, and adjust the compensation programs needed to meet complex business requirements.

Pay for Performance

Workday’s approach to Pay for Performance enables an organization to motivate and reward workers based on individual and business performance.

• Pay for Performance. Allows organizations to tie compensation increases for workers to both their individual performance as well as the company performance overall.
• Highly configurable plan definitions. Single or multiple targets for each plan and robust framework to define who is eligible for participation in the plan—including proration, leave of absence, and waiting periods—and to identify exceptions.
• Enables collaboration for better decision making. Allows compensation managers to collaborate with management to set merit increase pools—either top down or bottom up—and adjust pools accordingly.
• Supports managers. Delivers detailed information to support the manager’s proposal of merit increases and allows real-time editing of allocations, providing additional control to managers.
• Automates the process. Provides automated workflow to drive the review process from launch through approval.

Act locally, manage globally

Interactive Screenshot

Designed specifically with modern global organizations in mind, Workday Compensation consolidates employee compensation across multiple plans and geographies into a single view. Workday Compensation adapts to your processes and supports the array of compensation packages, special allowances, and multi-currency requirements of modern multinational organizations.

• Single global system. Perform all compensation activities in a single, consistent environment and define rules to assign appropriate compensation to employees.
• Adapts to business change. Configure business rules to support your company’s compensation processes and easily modify any aspect of compensation as needs change.
• Supports geographic and organizational differences. Create compensation plans that work for every part of the organization and provide the flexibility administrators need, including cost of living adjustments, allowances, individually tailored comp packages, and multi-currency support
• Eliminate discrepancies. Identify and eliminate pay discrepancies by applying compensation leveling tools to salary grades and profiles.

Supports change and growth

Workday Compensation enables organizations to design, implement, and manage any number of employee compensation plans, supporting the diverse needs found in any enterprise.

• Compensation plans and packages. Apply flexible controls for the entire compensation process.
• Incentive compensation. Define rules to assign employees to global incentive plans, fund bonuses by department, calculate target bonuses based on funding, propose and grant merit increases, and configure approvals to meet your requirements.
• Support for stock. Set up and manage stock plans and employee stock grants.
• Seamlessly tied to Workday Payroll. All information captured in Workday Compensation is seamlessly shared with Workday Payroll, eliminating duplicate data entry.  Workday also supports packaged integration to leading third-party Payroll providers.

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