Compensation Workbench
Oracle Compensation Workbench (CWB) allows managers and compensation professionals to plan, model, and allocate budgets and awards on a global basis across multiple currencies. Users can distribute budgets and compensation based on guidelines, see a worksheet view of employees, their performance ratings and total compensation. They can also promote employees and give them new performance ratings and rankings. Analytics provide internal and external comparisons, statistical analysis, compensation history, and overviews of current budgets and allocations so managers can make decisions that support business objectives. All of this is done within a secure environment with a configurable notifications and approvals workflow.
Some key features of Oracle Compensation Workbench are
- •Award multiple types of compensation to groups of employees at one time
- •Reward employees either on a focal or anniversary type basis or both at one time
- •Intuitive, configurable, user interface that minimizes training costs and encourages early adoption
- •Integration with MS Excel combines desktop productivity with enterprise compensation functionality
- •Budgets can be rolled down the management hierarchy, automatically set using target amounts,
or modeled and set by an administrator - •Configurable approvals process
- •Supports full time, part time, hourly and salaried employees
- •Extensive Audit Reporting
- •40+ criteria types to determine eligibility
- •Define conditional messages and complex calculations
- •Easily switch between different currencies and groups of employees
- •Create total compensation statements for employees