Create Period Salary Plans

Set up compensation components and grades.

Create compensation basis.

Security: Set Up: Base and Plan
domain in the Core Compensation functional area.

Create a plan that enables you to assign extra months, weeks, or days of pay to employees.

Access the

Create Period Salary Plan

task.

In the

Details

section, select Inactive to indicate the plan isn't available for use.

Processes already using plans marked Inactive complete as normal.

In the

Period Salary Defaults

section, consider:

Option	Bezeichnung
Compensation Element	Compensation elements store the earnings associated with compensation. If you select a compensation element designated as base pay, Workday includes the plan's compensation in the employee's base pay calculation.
Compensation Period Multiplier	Multiplies the Compensation Period . (Up to 2 decimal places allowed.) Example: If the Compensation Period Multiplier is 15.50 and the Compensation Period is Day, Workday assigns 15.50 extra days to pay employees.
Compensation Basis	Available if you select the Percent Based Plan option. Select the compensation basis Workday uses to determine the target amount (if the worker isn't managed by a compensation basis) for this plan. If the worker is managed by a compensation basis, Workday doesn't exclude this plan when calculating the target amount. If you select a compensation basis that includes this plan, Workday excludes this plan when calculating the employee's target amount. If you select a subtractive compensation basis, Workday subtracts the subtractive basis amount from the worker's primary compensation basis before calculating the percentage-based target amount. If the plan is part of a compensation basis that has the Manage Basis Total check box selected, you can't change the selected compensation basis. In this case, the period salary plan works like any other proportional plan. Workday allows individual plan changes in business processes that allow compensation changes.

In the

Plan Eligibility

section, select 1 or more rules.

Eligibility rules determine which employees are eligible for this period salary plan. If you select multiple eligibility rules, Workday evaluates each rule independently to determine employee eligibility for the stock plan. Employees are eligible if they meet the qualifications of any one rule.

(Optional) Complete the

Period Salary Plan Profiles

section.

This enables you to have different payout amounts for different groups of employees.

Example: You can set up 1 profile where the target for an individual employee is 2 months total base pay and another with 3 months total base pay.

You can:

Assign (roll out) the plan to employees on the

Rollout Compensation Plans to Employees

task.

Add the plan to a compensation package on the

Create Compensation Package

task.

Access the

Salary Plan

report for detailed information on a specific plan.

Access the

Edit Period Salary Plan

task.

You can update default values only for plans not yet assigned to employees. You can, however, update the

Compensation Element

field regardless if the plan is assigned or not.

Hide the compensation plan type from specified groups of workers using the Worker Data: Compensation Plan Type
domain in the Core Compensation functional area.