Product Tour—Oracle Compensation
Oracle Compensation
Oracle Compensation delivers a complete compensation solution that supports compliance, promotes fairness, and helps attract and retain top talent. Part of Oracle Fusion Cloud HCM, it uses real-time data to help you create, model, and manage compensation plans based on your own unique requirements.
Model, budget, and allocate compensation
Quickly create plans and model different scenarios for budgets and allocations. Determine employee eligibility for a plan based on any number of criteria from Oracle Cloud HCM data, such as age, grade, division, and length of service. Use worker- or manager-level budgeting or a combination of both.
Acknowledge, reward, and retain top performers
Use measures from Oracle Performance Management to motivate and retain high-performing employees. Set targets or recommended amounts based on an individual’s performance data that managers can reference to ensure rewards are distributed fairly.
Deliver compensation journeys to guide managers
Help educate managers and lead them through a new compensation strategy with guided journeys.
Execute compensation cycles on schedule
Complete compensation cycles on time with flexible approval processes. Structure the approval hierarchy to meet your unique requirements. At each approval level, the manager can review the previous decisions and make changes as necessary before submitting.
Apply policies fairly and consistently
Support pay equity and fair compensation by providing managers with a view of national pay rates, the location allowance, and the recommended or enforced target bonus for each employee. Notify managers when compensation is out of range or when performance is low.
Use market data when allocating rewards
Remain fair and competitive by using imported data from third-party stock and market data providers to inform compensation decisions. Select the fields to import into embedded worksheets
Communicate the full value of each compensation package
Help each employee understand the full value of their individual compensation package, beyond base pay, through their total compensation statement. Ensure transparency by delivering compensation letters to workers when a change to their compensation occurs.
Manage all kinds of allocations and contributions
Empower managers to award compensation to individuals outside of their regular compensation cycle. Manage elements such as allowances, bonuses, donations, and stocks through individual compensation plans.
Grasp the impact of your compensation strategy
Get a holistic view of your compensation strategy by reviewing compensation information across the entire company by level, geography, and gender. Uncover deviations or anomalies by assessing the level of compensation for workers by grade, step, or ladder.