Advanced Compensation
What compensation plans are considered part of Advanced Compensation in Workday?
Bonus, Merit and Stock Plans
What is the link between Workday and Payroll?
Compensation Elements
Request Compensation Change
Which details on a Stock Plan are for informational purposes only?
Vesting Schedule and Expiration Date
What are the 2 things that all compensation components have?
Even if you were assigned a Bonus or Merit Plan, this does not mean...
You will receive an award and/or salary increase
What value do Rounding Rules round?
The actual Bonus and Merit award amount
What are Compensation Grade and Grade Profiles used to display?
Base Pay Ranges
When creating a rounding rule, what are the 2 options you can round to?
Currency Precision or Round to the Nearest Value
Waiting Periods can be applied to Bonus and Merit Plans. What do they drive?
The point at which employees are eligible to receive a Year End Compensation award
Which 2 core compensation plans can automatically be prorated based on FTE% if indicated?
Salary and Allowance Plans
What does it mean if you are including employees in the waiting period in the annual review process?
The employees will be visible in the planning grid with no targets
What do Proration Rules impact on Bonus and Merit Plans?
The target displayed in the process, NOT the actual award amount
Which group of people do not receive compensation in Workday?
Contingent Workers
If multiple criteria are included in a Proration Rule, how are they read?
Independent of the order; system will prorate on all criteria that apply