November-2021

WM INDIA PEOPLE ORGANIZATION

ORACLE WORKFORCE COMPENSATION

  Compensation management involve Base Pay, Individual
compensation, Workforce Compensation.

Compensation

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  Base Pay is Person’s fixed salary amount.
 This can be adjusted at amount level, component amount or
percentage level as part of HR action like hire, transfer or Promotion
of employees.
Base Pay  Line Manager can review and adjust base pay using Compensation
page of My Team work area or by Change Salary action.
 Compensation Manager or HR specialist can review or adjust salary.

Add Content to a Worker’s Profile depending on the content section

access setting for HR Specialist and managers.
 It help us to view, add, or edit content for a worker profile to use
worker’s skills and qualifications page.

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  Salary records of the employees are associated with salary basis.
 The annualized salary is calculated using the currency, frequency,
and annualization factor from the salary basis.
 Any salary components used itemize salary adjustments for reports,
such as merit and location, also come from the salary basis.
 Salary amount entered is held by the payroll element associated
with the salary basis. The salary basis passes that amount to payroll
for processing.

Salary Basis

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  Compensation manager can
 View and compare salaries as well as see the summary and details
of individual salaries.
 can also create, edit, or delete multiple salaries and submit all of
Salary your changes together for approval.

History  can view who created and updated salary details, and when.

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  HR specialists and line managers can use incremental salary
components
 It is used to itemize new or adjusted salary, to reflect the different
reasons for their allocations
Incremental • Itemization:
Salary  Incremental component itemizations are stored and used to
calculate new salary.
Component  The incremental values entered in the salary record apply only to
that record and don't apply to any future salary records.

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  salary data can be edited using an integrated Microsoft Excel workbook
but cannot change the associated salary bases.
Task which can be performed under Microsoft Excel Workbook

Salaries in  Download salaries

Integrated  Edit salary data

 Upload salary changes

Workbook  Validate Salary changes

 Resolve errors

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  Salary metrics include minimum, maximum, midpoint, comp-ratio, range
position, quartile and quintile.

 The optional grade rate provides the information for the person's
base salary range. The optional differential profile provides the
Differentials multiplier that calculations use to automatically adjust the person's
salary metrics.
for Salary  it provides an alternate grade rate to use instead of the grade rate

Ranges associated with the salary basis.

 You can also associated differentials with the type Grade Rate that
override the grade rate, and thus the grades and grade ranges,
associated with the salary basis.

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  The differential profile has multipliers configured for one of these criteria:
 Location

 Business unit

 Location and business unit

 Compensation zone

 Compensation zone and business unit

Differentials
for Salary
Ranges

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  Variable compensation, such as a spot bonus, education
reimbursement, or car allowance, to individual can be awarded by using
individual compensation.
 It enable people to manage their own contributions to charitable or
savings plans.
 Individual compensation managed in Compensation sections of HR
actions, such as when you hire, transfer, and promote someone.
 This can be achieved using Individual Compensation Plans

Individual  Options: Each plan must have at least one option.

Compensation  Can set up a nonmonetary option, such as grant stock shares, or a
monetary option. 

 Eligibility: Compensation plans or options a particular person is

entitled to participate in with eligibility profiles.
 You can attach eligibility profiles to the plan, an option, or both.

 Compensation eligibility evaluations also use criteria defined at the

element eligibility level to determine if someone is eligible for a
compensation plan

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  Payment Dates: You can synchronize the payment start and end dates
of individual compensation plans included in an offer.
 One can also select the option to delay the payments or can let
recruiter to override the calculated payment dates

 Plan Access Restrictions: control who can start, update, or

discontinue individual compensation awards and for what circumstances
when you restrict plan access.
 If select as NO, Plan will available for all employee.

Individual   IF Yes, you need to add at least one action where the plan should
be available.
Compensation
 My Compensation Information: You can use the Compensation page
to see your salary information, such as your annual salary, salary range
and last salary change date and percentage.
 see your prior salaries, additional compensation, recurring and one-
time payments, and your personal contributions to company-
sponsored savings and charitable plans.

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  Line Manager : Can use the Compensation quick actions or
Compensation work area for their team.
 compensation manager/ HR specialist: Can also use the Individual
Compensation and Administer Individual Compensation quick actions
for your client groups.
Individual  It allows them to manage individual compensation where they can
award various component.
Compensation
 Personal Contributions : You can manage your enrollments and
contributions for company-sponsored savings and charitable plans
using the Personal Contributions task.

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THANK YOU!!!