Increasing flexible work patterns have caused HR and managers to rethink how they manage and compensate their employees. Oracle Compensation delivers a complete compensation solution that supports compliance, promotes fairness, and helps attract and retain top talent. Part of Oracle Cloud HCM, it uses real-time data to create, model, and manage compensation plans based on unique requirements.
Global or local compensation allocation: Give managers the ability to allocate compensation for their teams regardless of where they are located, including workers located in multiple countries with multiple currencies. They can manage salary on its own or include bonus, stock, and long-term incentives in one worksheet.
Compensation approvals: Structure the compensation approval hierarchy to match your unique requirements. At each approval level the manager can review the lower-level decisions and make changes as necessary before submitting further up the hierarchy.
Standard components of salary: Empower managers to allocate awards for employees with differing components of salary by simply entering the final award and letting the application calculate the new components.
Real-time employee data: Include and sync relevant, up-to-date Oracle Core HR data when modeling and distributing compensation plans.
Embedded analytics: Provide embedded analytics for immediate comparisons to pay history and other industry standard markers like comp-ratio and position-in-range.
Configuration controls: Design and control the configurations of all plans including the design of worksheets, components, eligibility rules, budgets, targets, hierarchies, and a variety of other options.
Allocation guidelines: Set allocation guidelines at an individual level with target amounts that can be calculated based on one or more criteria, such as job, grade, length of service, performance rating, location, comp-ratio, market data or other external data.
Alerts: Warn or prevent managers with alerts that appear when allocations are out-of-policy to adhere to organizational policies and remove the need to make corrections later.
Employee performance management measures: Incorporate employee performance management measures from Oracle Performance Management to calculate individual target awards and budget modelling.
Market data: Import and display market data for jobs and positions for an employee in the worksheet. Market data can be used without any location variations for organizations. For example, organizations can use imported market data when structuring compensation when paying for what “the job’s worth”, regardless of location.
Individual Compensation: Create individual compensation plans with eligibility, documents upload, and approvals. As a result, employees can claim various configured allowances, such as child school allowance or reimbursements for tuition and managers and HR admins can award high value allowances and spot bonuses for eligible recipients.
Compensation plan design: Quickly create plans and model different scenarios for budgets and allocations. The worksheet layout can be adjusted by managers to display the most relevant information when making decisions.
Worker-level budget modeling: Use the ‘bottom-up’ method to calculate and model target amounts to all employees based on various criteria in the plan and roll them up to see what the total budget would be.
Manager-level modeling: Use the ‘top down’ method where a manager distributes flat amounts to their directs or all the managers in their hierarchy organization.
Eligibility plans: Create eligibility for an employee for a plan based on any number of criteria from Oracle Core HR data, such as age, grade, division, and length of service.
Compensation letters: Design and distribute branded compensation letters at the end of a compensation cycle to managers for them to share the new information with employees.
Total Compensation Statement: Communicate the value of the complete compensation package to employees through Total Compensation Statements. Compensation administrators can configure multiple versions of these statements to display all earnings, equity awards, benefits, savings and retirement plans, and anything else of value to the employee, such as gym memberships, parking, commuter allowances, and meal cards.