Workday Advanced Compensation Training:​

Workday Advanced Compensation deliver you the understanding needed to discover plans, attract, retain, and award the top talent all over the globe by making optimal decisions across the organization. Advanced Compensation assist you support Workday’s single-solution framework and functionality to amalgamate this information into simple yet thorough worksheets that precisely notify the compensation process, helping you nurture, retain and encourage top talent. Workday administer an extremely configurable, worldwide system that permit you to determine compensation packages, plans, programs, and procedures making use of data all over Workday along with the industry. It instantly adapts to global allowance plans depend on modifications formed to salary while making sure that allowance plans stay inside statutory limits.
Ratings: 4.8
4.8/5

LMS
Access

Real-time
case studies

40 Hours
of training

24*7
Support

Course Overview:

Our Workday Advanced Compensation Online course is described to bring Functional knowledge for trainees from certified Experts. After the completion of this course, applicant will understand the fundamental concepts of Advanced Workday Compensation, Enroll how to set up, create merit plans and custom merit statements, Evaluate methods to configure and process merit, bonus, and stock plans, Determine successful merit, bonus, and stock process as a compensation administrator and manager, Acquire knowledge on Release Merit Statements, Map and regulate employees in the compensation review process obtaining eligibility rules, waiting periods, time proration rules, and next-level participants. Workday Advanced Compensation course is created for compensation administrators who will design and process compensation review utilizing merit, bonus and stock plans.

Course Content:

  • Set Up Compensation Components
  • Create Frequencies
  • Create Compensation Elements
  • Create Eligibility Rules for Compensation
  • Assign Compensation Components to an Eligibility Rule
  • Set Up Compensation Grades and Grade Steps
  • Create Compensation Grades
  • Create Compensation Grade Steps
  • Set Up Adjustments to Compensation Steps
  • Create a Compensation Grade Hierarchy
  • Set Up Automatic Compensation Grade Step Progression Schedules
  • Request Grade Change
  • Set Up Adjustments to Compensation Grades Assigned to Job Profiles
  • Compensation Grade and Pay Range Security
  • Compensation Step and Grade Progression Reports
  • Propose Compensation for Employees or Positions
  • Create Compensation Packages
  • Set Up Compensation Package Analytics
  • Roll Out Compensation Plans to Multiple Employees
  • Remove Compensation Plans from Multiple Employees
  • Remove Compensation Plans with Expected End Dates
  • Set Up Segmented Security by Compensation Plans
  • Set Up Adjustments to Unit Salary, Hourly, Allowance, and Commission Plans
  • Pay Equity Dashboard
  • Propose Compensation
  • Compensation Defaulting
  • Compensation Plan Comparisons
  • Set Up Salary Plans
  • Create Salary Plans
  • Create Unit Salary Plans
  • Create Period Salary Plans
  • Create Hourly Plans
  • How do I annualize hourly plans?
  • Manage Reimbursable Accounts
  • Create Allowance Plans
  • Set Up Merit Plans
  • Create Merit Plans
  • Create Custom Compensation Review Statements
  • Set Up Bonus Plans
  • Pay for Company Performance
  • Set Up Eligible Earnings Overrides for Bonuses
  • Create Bonus Plans
  • Create Compensation Scorecards
  • Create Compensation Scorecard Results
  • Create Eligible Earnings Overrides for Bonuses
  • Create Deferred Bonus Calculations
  • Create Future Payment Plans
  • Assign Future Payment Plans to Employees
  • Calculate Outstanding Balances for Future Payment Plans
  • Rescind Bonuses for Individual Employees
  • Company Performance Options
  • Future Payment Plans and True Ups
  • Deferred Bonus Progressive Calculation
  • Set Up Stock Plans
  • Create Stock Plans
  • Request Stock Grants
  • Add Stock Grants
  • Create Stock Participation Rate Tables
  • Update Approved Stock Grants
  • Setup Considerations: Compensation Reviews
  • Create a Compensation Matrix
  • Prepare for Compensation Reviews
  • Set Up Compensation Review Business Processes
  • Set Up Shared Participation Compensation Reviews
  • Create Eligibility Waiting Periods for Compensation Review Processes
  • Create Time Proration Rules for Compensation Review Processes
  • Create Compensation Rounding Rules
  • Create Compensation Review Participation Rules
  • Create Grid Configurations for Compensation
  • Create Shared Participation Compensation Review Options
  • Restrict Viewing of Merit, Bonus, and Stock Plan Assignments
  • Shared Participation Compensation Reviews
  • Coordination of Events During Compensation Reviews
  • Coordination of Events in Compensation Reviews
  • Participation Rules and Coordination of Events
  • Time-Based Proration for Merit and Bonus Awards
  • Include Active Employees Assigned Plan During Process Period
  • Compensation Reviews
  • Merit, Bonus, and Stock Pool Calculations
  • How is Total Eligible Earnings calculated for a compensation review?
  • Participation Options
  • Terminations During Compensation Review Processes
  • Initiate Compensation Review Processes
  • Add or Remove Employees to or from Compensation Review Processes
  • Manage Multiple Events During Compensation Reviews
  • Manage Compensation Review Pools
  • Manage Awards for Compensation Reviews
  • Review Promotions in a Merit Process
  • Manage Compensation Review Statements
  • Manage Funding for Bonuses
  • Create Commission Plans
  • Manage One-Time Payments
  • Create One-Time Payment Plans
  • Request One-Time Payments for Employees
  • Manage Calculated Plans for Compensation
  • Calculated Plans for Compensation
  • Manage Compensation Basis
  • Create Calculation Compensation Basis
  • Create Configurable Compensation Basis
  • Compensation Basis
  • Create Wage Theft Prevention Notices
  • Set Up Total Rewards Statement
  • Create Total Rewards Templates
  • Create Statutory Compensation Statements
  • Manage Employee Severance
  • Create Severance Matrix
  • Create Severance Packages
  • Create Severance Worksheets for Workers
  • Complete Severance Package Assignments
  • Request Compensation Change After Termination
  • Set Up Market Salary Data
  • Create Benchmark Jobs

FAQ’s

  • Yes, offers keep changing from time to time. You can chat with us or call our training coordinator for more details.
  • Yes, we have provided a Demo video section on each course page so that you can get a glimpse into the course you want to enroll.
  • Yes, we will provide access to all the learning materials after the complete payment for the course.

Workday Master is a live and interactive e-learning platform that offers professional online education.