Oracle fusion compensation is currently one of the highly demanded modules in the market. Oracle fusion compensation is conceptually divided in two parts, one is called Individual compensation plan and other is Workforce compensation plan.
Organizations thrive when employees are empowered to take ownership of their work, when they can see the bigger picture, and know how they fit within the collective success of their team and company. This can be achieved using the Individual compensation plan in Oracle HCM cloud, where you reward individual employees outside of their regular compensation cycle, such as a spot bonus, education reimbursement, or car allowance. Our customer wants to reward employees who conduct internal training as a faculty and talk about new technologies. When a manager identifies such employees from his team he can reward maximum of $200 for each training.
To reward the employee, the Manager needs to first configure the Element in HCM. Once the Element is configured, the next step is to create the Individual compensation plan for this Training Reward. Below are the steps involved in creating the Individual compensation plan.
- Configure Dates
- Configure Eligibility
- Configure Plan Access
Once the plan is configured, Manager can award Training Reward to employee by navigating to —My Client Group » Compensation » Individual Compensation » Individual Compensation Plans.
We can see if an employee is enrolled correctly to plan, we need to verify that elements are attached to the employee. To verify the same login to instance and navigate to the Element Entries page.
This helped our customers to promote a healthy work culture and to Improve employee engagement & satisfaction, all of which leads to the success of a company.