Initiate Compensation Review Processes

Prepare for compensation reviews.

Configure the Initiate Compensation Review Process
in the Advanced Compensation functional area.

You can configure the options and plans for your compensation review process. You can also include merit, allowance, one-time payment, adjustments, promotions, bonus, and stock plans.

Access the

Initiate Compensation Review Process

task.

(Optional) Select a

Compensation Review Process Template

Configure process date fields:

Opção	Descrição
Effective Date	The effective date also determines eligibility for proposed target changes, such as the Bonus Target Amount - Proposed editable field.
Employee Visibility Date	If configured, Workday hides the employee's pay-related compensation data until after the specified date.
Process Period End Date	Configure a date to determine: Employee eligibility for inclusion in the process. Proration calculations. Performance ratings. Example: If an employee is eligible for a plan on June 1, but the Process Period End Date is May 31, Workday doesn't include the employee in the process. Workday can include employees in eligibility waiting periods as of this date, based on plan setup. However, they display as exceptions with targets of zero.
Organization Snapshot Date	Select the date Workday uses to determine: The organizations in the compensation review process and the hierarchical structure. The organization level that stores the pools. When you initiate the process, Workday determines this once and takes into account only completed organization events. Thereafter, Workday manages in-progress organization events (moves or transfers that occur between organizations in this set) according to participation rules. Workday doesn't determine security role assignments for a compensation review process based on this date. Workday determines security when you launch the Complete Employee Awards step in the business process. Workday removes organizations inactivated after this date from the hierarchy and won't assign them to a planner.
Compensation Snapshot Date	Select a date for Workday to determine eligible employees in pool and award calculations. The greater the difference between the Effective Date and the Compensation Snapshot Date , the greater potential for other compensation-related events to create a conflict.

Select either a

Grid Configuration

or a

Grid Profile Configuration

See: Steps: Configure Compensation Review Grid Profiles.

If your grid configuration includes merit and promotions, you can select individual promotions for further review while the compensation review process is in progress.

In the

Process Details

section, consider:

Opção	Descrição
Currency Rate Type	Select the currency rate type to use as the exchange rate as of 12:00 AM on the Process Period End Date to calculate pools and awards. If the date is in the future, select a rate type where the exchange rate won't change before the date. Doing so ensures that Workday uses a consistent exchange rate for pool and award calculations.
Reference Currency	Select the currency for the award pools and all totals. The compensation values for employees whose pay is in another currency still display in that other currency.

As you complete the plan-specific sections, consider:

Opção	Descrição
Merit Plans	Enter the Statutory Minimum% to give employees assigned to a plan and the associated plan profiles. This only applies to merit plans that have the Subject to Statutory Minimum check box selected and are effective as of the Process Period End Date .
Bonus Plans	You can select Include Employees Terminated During Process Period . If you configured Coverage Date Eligibility on 1 or more bonus plans, you can change the coverage start and end dates. Coverage dates enable Workday Payroll or Payroll Integration to associate dates with the bonus for US Fair Labor Standards Act (FLSA) reporting requirements.
Scorecard Results	Enter the results if you included a bonus plan associated with a scorecard. If you leave this blank, Workday assumes 100% attainment. If you used a compensation process template that has Autopopulate Latest Scorecard Results selected, Workday populates the most recently effective scorecard result for each bonus plan.
Stock Plans	Select a Stock Participation Rate Table or create a new one. If selected, you can't select Autofill .
Allow Award Autofill	Select to enable the Autofill button when proposing awards.
Process Period Start Date	For each merit or bonus plan, this date sets the beginning of the proration period and determines the divisor of the proration calculation. Workday sets the default as the difference between the Process Period End Date and the plan frequency. You can select a date up to 15 months before the Process Period End Date .
Exceptions by Rule	The effective date of the merit award must be on or before the additional adjustment and promotion award dates.

Workday:

Creates a Compensation Review Process
event.

Sends a My Tasks item to the person in the role assigned to the Manage Impacted Employees
step of the business process.

Applies awards in this order: merit increases, additional adjustments, and promotions. Workday uses the latest effective date configured for each subsequent award.

Manage employees with multiple compensation-related events.