Glossary of Terms

A user-defined grouping of compensation components; such as the sum of salary, allowance, commission, bonus, future payment, stock and retirement savings plans. Workday enables you to specify which compensation plans should be included in the compensation basis calculation. This calculation can be used to view employee compensation in Workday and in the bonus process to provide target pools and individual target amounts.

A French word meaning a portion or slice of a bonus distributed to an employee over several payments.

Limits the coverage options available to workers during an enrollment event based on their choice of other benefit plans and coverage amounts. For example, you can limit coverage in a specific plan to a percentage of the total coverage in one or more other benefit plans.

The ratio of a worker's scheduled weekly hours to the business site's weekly hours. If a worker works 20 hours a week and the business site's weekly hours are 40, then the worker's FTE is 50 percent.

Categorizes job profiles (and their associated jobs and positions) based on compensable factors such as the level of education, experience, or training required to perform a job. Job profiles are assigned job levels, and those job levels are organized into a hierarchy.

The multiplier, which you set, used to calculate an annual amount of compensation for compensation plans. Each compensation plan has a frequency of payment, and each frequency has an annualization factor.

Used in job requisitions to define rules and conditions for holding positions in a supervisory organization using position management as its staffing model. Position requirements enable you to: • Limit staffing to specific job families and job profiles. • Restrict the business sites where a position can be filled. • Define the required qualifications, experience, and skill levels of workers hired into a position. • Limit staffing for a position to a specific worker type (employees or contingent workers). • Limit staffing for a position to a specific time type (full or part-time workers).

The umbrella term for compensation packages, grades, grade profiles, and plans.

True Up

A type of benefit plan where employees make contributions to 401k and 403b accounts. You can establish defined contribution plans and add these plans to benefits programs. Your employees can make or change defined contribution elections at any time, and those changes are sent to payroll for the periods in which the elections are effective.

A type of bonus plan that can be paid out over multiple bonus plans, one-time payment plans, or both. Any remaining target amount can be paid in a final true up payment.

One of the three staffing models available to use in your organization. It provides the least control over the definition of individual positions: the hiring restrictions you define apply to all jobs in the supervisory organization, and you can define only one set of hiring restrictions per organization. In addition, with job management, you don't set specific limits on the number of jobs that can be filled. This model is particularly useful for organizations that prefer to define broad job requirements and rely on staffing workflows and approvals to control the number of workers in a supervisory organization.

The compensation components that will be included in the calculation of base pay for the purposes of determining the compa-ratio and target penetration. For example, you can choose to include both base pay and bonuses in the base pay for purposes of determining the compa-ratio.

An undertaking that encompasses a set of tasks or activities having a definable starting point and well defined objectives. Usually each task has a planned completion data (due date) and assigned resources.

Establishes the criteria for how compensation components default to worker compensation during staffing transactions (hire, promote, demote, transfer). Compensation defaulting rules ease data entry by automatically defaulting compensation components (packages, grades, grade profiles, and plans) to worker compensation for employees who meet the rule's eligibility requirements.

Rules that prevent the entry of invalid time off requests or that trigger an error or warning message upon submission of an invalid leave of absence request. For example, a validation rule can prevent the entry of unpaid time off or requests of less than 4 hours. A validation rule for a leave of absence can ensure that an employee does not exceed the maximum number of leave days allowed each year.

Specify one or more criteria that categorizes workers into a group that is used to qualify them for participation in an HRrelated task. For example: Benefit Plan, Compensation Plan, Employee Review.

A breakdown of a compensation grade by functional task, geographical region, or other categorization your business requires. A profile allows you to assign more granular compensation ranges to workers.

Defines generic features and characteristics—such as company insider type, pay rate type, and competencies and proficiencies—of a job and of a position that uses that profile. The more specifically defined a job profile is, the more specifically defined those jobs and positions will be, by default. Job profiles are the most specific element in the job catalog: job profiles make up job families, which make up job family groups.

A type of benefits coverage. For example, you can define Medical, Dental, Vision, Group Term Life, Long Term Disability, and Short Term Disability benefit coverage types. Each type can contain one or more specific benefit plans. You can set rules for benefit elections at the benefit coverage type level. For example, you can restrict an employee to selecting only one plan of a specific coverage type. You can also specify which coverage types are available for employee election during which benefit events.

A range of pay deemed appropriate for a compensation grade or grade profile. During compensation transactions, if proposed compensation for an employee extends beyond the limits of the range for the employee's grade or grade profile, Workday issues a warning yet still permits submission of the proposed compensation.

The smallest unit of compensation for a worker in a specific position. Workday uses compensation elements to determine the amount, currency, frequency, and other attributes of a worker’s compensation. Compensation elements are linked to compensation plans. For example, Base Pay, Car Allowance, and Commission can be mapped to any compensation plan, but not to merit plans. Payroll earning codes linked to a compensation element allow Workday Payroll and Payroll Interface to include the applicable compensation in payroll. A Compensation Element Group is a collection of compensation elements. For example, the group Standard Base Pay can be comprised of multiple compensation elements. Compensation elements do not need to be grouped, and groups are optional.

A person who is either an employee hired by a company or a contingent worker contracted by a company.

A user-defined type that you assign to each employee when the employee is hired. For the most part this designation is informational only; you can search or filter employees by their employee type. However, you can designate a type as Fixed Term Employees, and employees of that type have fixed end dates of employment.

The number of workers in an organization.

A set of similar leave of absence types. For example, a company-specific family might include disability leave and bereavement leave, while a separate regulatory family might include jury duty, family medical leave act (FMLA), and similar leaves. Workday displays the leave family name as a category of leave types for requesters to select from when entering leave requests.

Identifies the benefit plans, coverage targets, and coverage amounts that employees receive by default when they do not complete an enrollment event.

Workday supplies four employee review categories: • Development Plan • Disciplinary Action • Personal Improvement Plan • Performance Review The business process definitions for employee reviews are specific to the review categories. This allows you to define unique processes for each category. Note that the review "types" you define in each category are used by name when defining review templates and starting employee reviews.

Defines the bonus,merit and stock increase range based on employees' overall performance rating, retention rating, eligibility rule, or their salary range quartile. You can use a compensation matrix to generate a bonus,merit or stock pool, giving you the basic cost forecasting necessary to pay for performance (bottom-up budgeting), or you can use the compensation matrix as reference guidelines only but have a separate pools (top-down budgeting).

Usually represents a legal entity, and is the primary entity for recorded business transactions and financial reports. A Workday company equates to a single tax ID within an enterprise. A company is a type of Workday organization.