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Administrator Guide
Last Updated: 2023-06-23
Reporting on Compensation Benchmarks

Reporting on Compensation Benchmarks

  • Set up compensation survey vendors, products, and the job catalog for external benchmarks.
  • Create compensation benchmark cycles for external benchmarks.
  • Configure external compensation benchmarks from survey results.
  • Security:
    • Set Up: Compensation Benchmark
       in the Core Compensation functional area.
    • Worker Data: External Compensation Benchmark
       in the Core Compensation functional area.
    • Worker Data: Internal Compensation Benchmark
       in the Core Compensation functional area.
External compensation benchmark data comes from these sources:
  • Workday generates it from compensation survey market data.
  • You load it into compensation benchmark cycles.
Workday generates internal compensation benchmark data from within your tenant.
Business objects for external and internal compensation benchmark data include:
  • Compensation Benchmark Composite.
  • External Compensation Benchmark.
  • External Compensation Benchmark Composite.
  • External Compensation Benchmark Configuration.
  • Internal Compensation Benchmark.
To provide data from the proper context, use compensation benchmark report fields with these adapter fields:
  • External Compensation Benchmark Composite for Job Profile.
  • External Compensation Benchmark Composite for Worker.
  • External Compensation Benchmark for Job Profile.
  • External Compensation Benchmark for Worker.
  • Internal Compensation Benchmark for Worker.
  • Internal Primary Compensation Basis Benchmark for Worker.
Use these data source filters to select workers or job profiles:
  • Workers by Job Profile and Compensation Grade on the Workers for HCM Reporting data source.
  • Job Profile by Name, Family, and Family Group on the All Active Job Profiles data source.
Large volumes of workers or job profiles increases report run times. Workday recommends that you minimize the number of workers or job profiles.
  1. Access the
    Create Calculated Field
     task.
    Example for an external compensation benchmark:
    Option Description
    Business Object
    Worker
    Function
    Lookup Field with Prompts
    Source Field
    If you want to report the benchmark percentile value, select
    External Compensation Benchmark for Worker
    .
    If you want to report the composite target percentile, range spread, minimum, mid-point, and maximum, select
    External Compensation Benchmark Composite for Worker
    .
    Compensation Component
    Select the component you want to report on, such as Base Pay.
    You can create multiple calculated fields to report external compensation benchmark for different compensation components.
    Example for an internal compensation benchmark:
    Option Description
    Business Object
    Worker
    Function
    Lookup Field with Prompts
    Source Field
    If you want to report the internal benchmark of a compensation basis, select
    Internal Compensation Benchmark for Worker
    .
    Compensation Basis
    If you use
    Internal Compensation Benchmark for Worker
     as the
    Source Field
    , select the compensation basis you want to report on, such as Base Pay.
    You can create multiple calculated fields to report internal compensation benchmark for different compensation bases.
  2. Create a custom report to display the compensation benchmark for employees.
    For the internal compensation benchmark, copy the
    Internal Compensation Benchmark for Worker(s)
     standard report as a custom report.
    Example:
    Option Description
    Data Source
    Workers for HCM Reporting
    Data Source Filter
    Workers by Job Profile and Compensation Grade
    Primary Business Object
    Worker
    Add the calculated fields and report fields for the compensation benchmark. You can also add report fields for employee's current compensation assignments and pay range to compare with another benchmark.
    This report provides information only on the:
    • Primary position for those workers with more than 1 position.
    • Workers that match the criteria selected in the report prompts on their primary position details.