Course Description
Our Workday Advanced Compensation training, provides you a fundamental idea of how it works in the Workday.
In the Advanced Compensation Course, you’ll be dealing with various topics such as Stock plans, Compensation grid, etc.,
The Course structure helps the professionals who work primarily on compensation and are willing to learn stock infrastructure in Workday.
The training is entirely online and available on both Weekdays and weekends.
There is a massive demand in the market for Advance compensation nowadays. And it is always necessary for an individual to possess Workday Certification for their career growth.
By the end of these online training classes, you’ll be able to configure, demonstrate success in all the aspects of Workday Compensation.
Features
| ✅Lifetime access | ✅Lifetime video access |
| ✅Real-time case studies | ✅The project integrated into the Curriculum |
| ✅24*7 Support from our team of administrators |
Course Content
1. Introduction to Advanced Compensation
- Advanced Compensation Structure
- Configuration of Compensation Review Business Process
- Summary of Award merit
- Comparison between controller and support role responsibilities
- Summary of stock
- Summary of Bonus
- Total Compensation review process as a manager and as an administrator.
2. Merit Plans
- Learning the components of a Merit Plan
- Creating a compensation review statement.
- Step by step process of configuring impacted employees and configuring a merit pool
- Creating a task of process compensation awards for employees
- Evaluate the coordination of events for the compensation review process
- Performing a rollout for a merit plan for eligible candidates
3. Bonus Plans
What are the components of the Bonus Plan?
Configuration of a bonus plan and run the compensation review process
To create waiting periods & Proration Rules
A. Bonus Plan: Scorecard:
How to create a Compensation Scorecard?
Different Bonus configurations using Compensation Scorecard
How to create a Bonus Plan using a Compensation Scorecard?
How to test the Bonus Process?
B. Bonus Plan with Individual Performance Factors:
How to create a Weighted Compensation Matrix
Testing a Bonus Plan with Performance Factors
C. Bonus Plan Integration: Eligible Earnings Override & EIB:
How to run a Bonus Plan using actual employee compensation?
How to create an Eligible Earning Override?
How to use EIB to load data for Eligible Earnings Override?
4. Compensation Matrix
- What is Compensation Matrix?
- Different types of Matrices
- How to create a Compensation Matrix?
5. Configurable Grid
- Exploring the various options available for the configurable grid
- Copy and modify a configurable grid
- How to successfully run configurable grid audit reports
6. Eligibility waiting period & Time Proration Rules
- How to create an eligibility waiting period
- How to create a Time Proration Rule
- How to identify various Time Proration Rules
- To observe the statutory impact minimums, have on merit pool & employee awards
- To examine the waiting period & time proration rules in the compensation review process.
7. Manage Exceptions in Compensation Review
- Identification of audit reports to audit Compensation Review
- How to modify individual plan targets during the compensation Review?
- Configuring & use alternate organizations for the compensation review
- Configuring & implementing the Review award steps using shared participants.
8. Configurable Grid
- Exploring the various options available for the configurable grid
- How to successfully run configurable grid audit reports
- Copy and modify a configurable grid
9. Stock Plans
- Creation of a Stock Plan
- Design of a Stock Participation Rate Table
- How to run the Update Stock Grant?
- How is stock awarded?
FAQ’s
❓ Do you offer any discount/offer?
✅ Yes, offers keep changing from time to time. You can chat with us or call our training coordinator for more details.
❓ Is there any demo video which I can watch before enrolling to the course?
✅ 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.
❓ How soon after signing up would I get access to the learning content?
✅ Yes, we will provide access to all the learning materials after the complete payment for the course.
Course Instructor
