Workday Compensation and Advanced Compensation are two solutions that provide your team with the tools they need to do everything from attracting top talent to rewarding employees. You can learn about the differences between the solutions, as well as some of their key features in our previous article, Overview of Workday Compensation and Advanced Compensation.
In this article, we’re going to focus on some of the challenges you may face when using Workday Compensation, plus some impressive successes we’ve seen in helping clients overcome those challenges.
Pain Points With Workday Compensation
Over years of implementing and maintaining Workday Compensation setups on behalf of our clients, our consultants have noticed that a few common pain points tend to pop up with this sort of project. Specifically, clients tend to have trouble when it comes to updating compensation grades, customizing Advanced Compensation, testing Advanced Compensation, and security access management.
Let’s take a closer look at these in detail.
Updating Compensation Grades in Core Compensation
Maintaining Workday can be tricky sometimes, especially when it comes to updating compensation grades and grade profiles. Many enterprise companies change their pay bands annually to compensate for inflation or other reasons, which means that the system administrator will need to go into Workday and adjust the bands every year. Unfortunately, there’s no easy way to perform that task, which results in a lot of manual work with spreadsheets.
Customizing Advanced Compensation
Workday Advanced Compensation is highly customizable, which is great, but because there’s no standard way for how companies process bonus or merit awards, creating, access, and calculating your company’s specific reward process might be more challenging than you think.
Testing Advanced Compensation
In addition to tweaking Advanced Compensation to suit your exact needs, testing it can also be a cumbersome process because of how time-consuming it is. The process to launch a bonus can take 10 to 12 minutes, and merits take at least 12 minutes. And every time you make a change to a process, you have to relaunch it (so there’s another near-quarter of an hour gone). None of that is an incredibly large amount of time, but those minutes can add up quickly if you have to make a lot of changes.
Managing Security Access
Anytime you’re dealing with sensitive data, security needs to be a top priority. You want to be careful about not giving too much access when you’re doing reporting on either Core Compensation or Advanced Compensation.
Another point to highlight about security is for global companies that don’t allow managers to see compensation. There is a security setup for that in Workday, but it can be rather complex. This is a good case for bringing in a Workday security expert to help you navigate the setup to stay compliant with country rules.
Mini Case Study—From Zero to Hero in Just Three Months
A Workday consultant of ours recently had one of his biggest success stories: an organization that managed to implement Workday in just three months. (When you consider that the average implementation is three times as long, you can see why that’s such a big deal.) Even more impressive, however, is that merely two weeks after their go-live date, they were able to conduct open enrollment, performance reviews, and issued merits and bonuses in the new system.
They went from not knowing anything about Workday to becoming pros in a matter of months. The reason for their success?
Agility, flexibility, and having a knowledgeable expert in their corner. The client was willing to let our consultant set out a timeline and do things quickly. And if they didn’t like how something was going, Workday’s design made it easy to make changes on the fly. In the end, our consultant was super impressed to see these recent novices ask questions he usually hears from senior-level Workday admins.
Working with a Workday Consultant
Implementing or optimizing Workday Compensation or Advanced Compensation can be more challenging than other Workday modules, which is why we’re here to help. Whether you lack the resources or expertise, our senior-level Workday consultants can fill that gap in your organization. Our consultants have experienced many of these pain points and know how to help you avoid them.
So if you’re ready to partner with the Workday expert to help you achieve your goals, contact us today to get started.