Before we dive in, what is Workday Compensation?
Workday Compensation is a module within the Workday Human Capital Management (HCM) suite that automates and streamlines employee compensation and rewards management. It allows organizations to create and manage compensation plans, salary structures, and bonus programs, ensuring fairness and consistency in compensation practices.
By leveraging Workday Compensation, organizations can align compensation practices with business objectives and values, facilitating a transparent and efficient compensation planning process.