Steps: Manage Custom Calculations for Compensation Reviews

Security:

Set Up: Payroll (Calculations – Generic)
in the Core Payroll functional area.

Grid Management
domain in the System functional area.

Process: Compensation Management Events
domain in the Advanced Compensation functional area.

You can use custom calculations to populate fields in compensation reviews.

During a compensation review, Workday uses the calculation table to populate fields on your grid.

Create 1 or more calculations in the Compensation
category using tasks such as

Create Arithmetic Calculation

Create Lookup Calculation

You'll use calculations created in the Compensation
category when you build the calculation table.

Calculations can be very complex. Workday recommends that you engage Workday Professional Services or a Workday Consulting Partner to help you configure the calculations for Compensation.

Access the

Maintain Compensation Review Calculation Lists

task.

Configure 1 or more calculation lists and up to 50 list values. When you configure a compensation review calculation table, you can select that list and associate it with calculations and grid configuration fields. You can modify list values while a compensation review is in progress.

Example: Enter Performance Factor for the list name with values for: Top Performer, Meets Expectations, and Needs Improvement. When you configure the calculation table, you can select the Performance Factor list and associate a calculation to each value.

Security: Set Up: Merit and Bonus
domain in the Advanced Compensation functional area.

Access the

Create Compensation Review Calculation Table

task.

A calculation table creates an association between the values on a custom calculation list, calculations, and update fields on your grid configuration.

Select

Calculation Table Entries

, including 1 or more rows, each with an

Input

list value from a calculation list, a

Calculation

, and an

Update

grid configuration field.

During the compensation review,

Select the

Custom Calculation Lists

tab for merit, promotion, bonus, or stock.

Create Grid Configurations for Compensation.

Add custom calculation fields into the Merit or Bonus section of your grid configuration. Example:

Custom Calculation Merit Numeric

Custom Calculation Bonus Currency

. As a best practice, Workday recommends that also you add the update fields you used to create your calculation table.

If you use a custom calculation bonus list, add

Custom Calculation Bonus List Value

to the Bonus section as an editable field.

Create Compensation Review Options

Select your

Compensation Review Calculation Table

or create a calculation table without leaving the task.

Initiate Compensation Review Processes

Select:

The grid configuration with 1 or more custom calculation fields.

The set of compensation review options that includes your

Compensation Review Calculation Table

During the compensation review, Workday:

Displays your grid with the custom calculation and other fields you configured. You can any update fields that you configured as editable when you set up the grid configuration.

Recalculates the value of any

Update Field

based on changes to fields that it depends on.

Create a calculation in the Compensation
category on the

Create Arithmetic Calculation

task.

Create the Performance Factor calculation list on the

Maintain Compensation Review Calculation Lists

task with values for: Top Performer, Meets Expectations, and Needs Improvement.

On the

Create Compensation Review Calculation Table

task, you select the

Custom Calculation Lists

tab and on the

Custom Calculation Bonus List

prompt, select the Performance Factor calculation list.

On the

Calculation Table Entries

tab, you select Custom Calculation Bonus List Value
for the

Input

field, select a

Calculation

, and select Bonus Factor %
for the

Update

field.

On the

Create Grid Configuration

task, add the

Bonus Factor %

as an editable field to the Bonus section.

During the compensation review, you select a value from the

Custom Calculation Bonus List Value List

and enter a

Bonus Factor %

for each employee.