Motivate, Reward, and Retain Your Key Employees

Workday Compensation Management supports any number of compensation programmes that meet the needs of a global organisation. Define pay-for-performance compensation scales that meet regional and organisational requirements. Use a single interface to view the many types of information that are required to support accurate compensation decisions.

Workday simplifies the following processes:

• Define and manage global compensation components, including base pay, variable pay, equity and allowances.
• Match compensation packages to employees based on agile rules.
• Determine appropriate compensation by considering multiple performance factors, including organisation, team performance and individual performance.
• Use contextual information to make better decisions about compensation.
• Match total compensation statements to specific employee groups.

Workday Compensation Management supports complex compensation programmes that meet regional and organisational requirements. 

Design Compensation Packages

• Create compensation plans, including base pay, allowances, bonus and equity.
• Define guidelines that help you provide equivalent compensation for equivalent job levels.
• Assign compensation guidelines and plans to targeted compensation programmes.
• Calculate compensation for global employees or employee groups with higher variable pay.

Assign Compensation

• Define compensation rules to drive compensation defaults and appropriate target assignment.
• Assign compensation plans automatically or manually.
• Create defaults for appropriate compensation when transferring employees to new locations or organisations.
• Review compensation guidelines when adjusting compensation.

Define Compensation Processes

• Configure compensation processes by plan and organisation.
• Monitor compensation processes at various levels, such as organisation or location.
• Define a consolidated compensation process that includes merit increases, salary adjustments, bonuses, stock, lump-sum payments and promotions.
• Set individual, team and organisation performance goals to determine appropriate bonus targets.
• Provide global teams with compensation processes that support multiple targets and currencies.

Pay for Performance

• Define global rewards programmes with locally appropriate targets to ensure consistent compensation practices.
• Set compensation pools that are based on bottom-up targets or performance goals.
• Motivate and reward employees by basing compensation on individual, team and business performance.
• Make better decisions that are based on contextual and comparative information during the compensation review.

Analyse Results

• View compensation by organisation, team or location.
• Review global pay scales in multiple currencies by job or job level.
• Monitor compensation processes across business units to ensure that total spend does not exceed budget.
• Drill into pay results to ensure that top performers are appropriately compensated.