Compensation Planning

Transcription

1 Launch : 1. Log into Workday. will be an Action in your inbox. Click on the task and the action. 3. Start by choosing Propose under Merit Proposals. 4. In the Merit Process field choose BLANK. 1

2 Step 1-Merit: 1. It will default to the Summary tab, but we recommend starting with the Merit tab. Sort in any way you would like by clicking on the column header you want it to sort by. 3. Highlight the employee who you want to plan for-this will show the employee detail in the Smart Panel (Current Base, Planned Merit, Merit Target based on 9B and any prorations, New Base Pay, Currency, and Hire Date). Note: The Smart Panel is not available on the Summary tab. 1. Smart Panel Consider the employee s 9B, your team s overall performance, the guidance provided by HR, and your budget to help determine the appropriate merit increase. 5. You have the option to enter merit %, merit amount, or where appropriate, lump sum amount. Push Enter and the amount will auto-calculate based on one of these fields (merit %, merit amount, lump sum amount). 6. Manage budget pools shown at the top of the planning page. 7. Prorations, if applicable, will be included in each employee s target merit % guidance on the Smart Panel. 8. Global employees will have their target merit % by local guidelines, but will be accounted for in the budget as USD. 9. Global employees will have their local currency displayed on top in the Merit Amount/Merit New Pay Amount columns, USD on the bottom (see Smart Panel above as example). Note: Hit Enter after every amount you enter in order for the amounts in the Smart Panel and Budget to update. 2

3 Step 2-Bonus: 1. We recommend continuing with the Bonus tab. Sort in any way you would like by clicking on the column header you want it to sort by. 3. Highlight the employee who you want to plan for-this will show the employee detail in the Smart Panel (Bonus Plan Eligibility, Eligible Earnings in local currency, Currency, Achieved Results Bonus Target, and 2014 Bonus History). Note: The Smart Panel is not available on the Summary tab. 1. Smart Panel Consider the employee s 9B, your team s overall performance, the guidance by 9B, and your budget to help determine the appropriate bonus % or amount. This is the pay component that you will be able to focus on to drive differentiation. 5. You have the option to enter bonus %, or bonus amount. Hit Enter and it will auto-calculate based on one of these fields (bonus %, bonus amount). 6. Manage budget pools shown at the top of the planning page. 7. Achievement to local plan metrics will be shown in Achieved Results Bonus Target. 8. Global employees will have their budgets by local guidelines, but will be accounted for in the budget in USD. Note: Hit Enter after every amount you update in order for the amounts in the Smart Panel and Budget to update. 3

4 1. We recommend continuing with the Stock tab. Step 3-Stock: Sort in any way you would like by clicking on the column header you want it to sort by- recommend sorting by level or cost center. 3. Highlight the employee who you want to plan for- this will show the employee detail in the Smart Panel (Stock Plan Eligibility, Currency (stock in USD), and clickable Stock Award History with detail). Note: The Smart Panel is not available on the Summary tab. 1. Smart Panel Consider the employee s 9B, potential rating, risk of loss, and other factors included in the performance tab, your team s overall makeup, the guidance by potential rating, and your budget to help determine the appropriate stock award. Enter the stock amount in USD. Push Enter and it will auto-calculate based on the Stock Amount field. 5. Please note: you will plan the estimated dollar amount, not the number of options as in the past. 6. Manage budget pools shown at the top of the planning page. 7. All stock planning will be in USD. Note: Hit Enter after every amount you update in order for the amounts in the Smart Panel and Budget to update. 4

5 Step 4-Summary: We recommend you plan in the individual compensation components by tab, rather than completing your planning in the summary tab. 1. To View all planning completed on an individual, click on the Summary tab. Sort in any way you would like by clicking on the column header you want it to sort by The Summary tab is a quick way to modify/review all compensation components. 4. To submit planning, click Continue. This will bring you to the main page. Then click. 5. This will bring you to one final review page where you will have to scroll to the bottom of the page and click. 6. You will see the below message once it has been submitted and the planning task will disappear from your inbox. 5

6 Step 5-Reporting: 1. For a report that illustrates each employee s total compensation proposal, run the Employee Detail Report (Managers and HR Partners). a. In the search box, type the name of the report and select it from the search results. b. Select 2015 as the Merit Process. c. Click OK and the report will display. d. For a customizable view, export to Excel by clicking Continue and then clicking on the notebook icon ( ). Save the report and then select Open. 6

7 Step 6-Roll-Up Planning: 1. Those that have direct reports that manage people in Workday will have a Roll-Up Planning Task. a. You will not receive this task until one of your direct reports has submitted their planning worksheet. b. You will have two planning tasks in your inbox named the same thing if you have not yet submitted your own planning prior to one of your direct reports submitting their planning. The task listed second will be your direct planning task and the one above is your roll-up planning task. c. Select Roll-Up Planning task to start. d. Each Supervisory Org will be listed separate and it will be listed as ready for approval when it has been submitted up to you for review. e. If you approve your roll up planning prior to each supervisory org being submitted to you for approval, you will get an additional task once the remaining supervisory orgs are submitted. f. You can only plan for those that have been submitted and show Yes in the Ready for Approval? column. g. To see your entire team in one place, follow the reporting instructions listed in Step 5. h. The budget listed at the top of the page is your overall budget (factoring in all the supervisory organizations together that you manage). It does not change when you drill into the different supervisory organizations. To see if the supervisory organizations are over budget or not, reference the Merit, Lump Sum, Bonus, and Options columns. i. If a supervisory org is over budget, it will be flagged with a red diamond ( ) next to plan it is over budget for. j. To make changes to an employee in a supervisory org, click on the icon. k. You can approve from the planning page or from the main page. 7