Budgeting and Compensation in Oracle HCM Cloud

Budgeting and Compensation in Oracle HCM Cloud

All Organization attract, motivate, and retain talent by strategically planning, allocating, and communicating Compensation or Promotion to their Employees. Many Organization use third party system along with their Core HR System to carry out Increments / Promotion. Employee Date of Joining, Level, Performance rating, business unit and various other factors would be considered for deciding on Increments / Promotion.

While using Third party tool, Complete Employee related data need to be loaded manually or through any integration to Core HR system. Involvement of complexity while downloading and uploading data or creating integration between systems would be a big concern in many organizations. Rather they would prefer a product where the Employee Information and Compensation will be integrated automatically.

Life has been made easier in Oracle HCM cloud with introduction of Compensation plans. This plan is integrated with various modules within Oracle HCM Cloud like Core HR, Performance. Data available over various modules are retrieved automatically based on Effective Dates which we configure on the plan. Compensation cycle involves Loading of complete data, setting up Eligibility population, Configuring Organization Budget, Currency Conversion and Validations.

Once all related configurations are completed and plan is launched, Managers for whom access will be provided can view Worksheet and perform their activities. Further they can submit for further approvals with details entered from their end.

Look and Feel for Managers:

Feel for managers

Configuration Steps:

List of configuration Steps involved to create a single complete plan at one place are as below:

  • Start and end dates to retrieve rating information and to mention on when this plan should be accessible and can be updated.
  • As on date to pick Complete Active Employees from Core HR.
  • Configuring Eligibility Criteria to decide on which all Employees will be eligible for the corresponding cycle.
  • Hierarchy Configuration to decide who can update the worksheet and how approval to be processed.
  • Configuring of Budgeting and Currency Conversion rates if organization requires.
  • Control of Visibility of columns for managers over worksheet.
  • Validation in system if Increment is more than budget or making Eligible for Promotion even if Employee is ineligible for the cycle.

What next?

Are you looking to bring all of them under one roof, so you can manage them better? Contact us, we are ready to help you.

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Dear Default Value,

Welcome to SOAIS Newsletter of September 2021!

Continuous Testing with Remote Execution
The speed of innovation continues to increase, driving rapid and relentless change for today’s ever-evolving IT landscapes, creating greater risk as IT and business teams scramble to ensure timely delivery. How can your organization keep pace? Test more, worry less. With Worksoft’s Connective Automation Platform, you can easily build and maintain automated tests, accelerating testing time without losing scope or volume. You can schedule and execute remote, continuous tests to intercept defects sooner and prioritize remediation - without sacrificing your nights and weekends. Explore how continuous test automation and remote execution can empower your organization.

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Skip Costly Rework with Dynamic Change Resiliency​

Change resiliency is imperative in ever-evolving IT environments. Our patented object action framework streamlines change management by assigning object definitions to your shared assets. The same object may be used in a thousand automation steps, but it can be easily updated by making one simple change to the model definition. The change automatically propagates to every single instance where that object may have been used without a single line of code or manual human involvement. For more change readiness you can also engage our Impact Analysis for SAP to predict how changes in SAP transports will affect your business processes. 

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SOAIS Blog – Nuts and bolts of Certify Database Maintenance​

One of the key thing, which is often missed by the organizations, who have invested in using Worksoft Certify for automating their Business Process Validation initiatives, is implementing a Database Maintenance Plan. While the business and the test automation consultants get excited about the shiny new thing that they have got and start building the regression suite; planning and executing a database maintenance plan for most of the customers gets pushed down the priority list. However, since all the test assets in Certify are stored in a Database, a robust database maintenance plan is very important to maintain smooth operation of Certify with acceptable performance criteria. The customers usually start facing issues once they have built significant number of Certify processes which they have started executing on regular basis. Such executions add a lot of data to the tables storing results data and increase the overall size of the Certify database.

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Worksoft Blog – Process Intelligence: A Multi-Dimensional Approach

The ability to extract process knowledge has become easier through the years. Technology has evolved to the point where we can deploy capabilities that connect at multiple levels to extract different types of process insight. In the past, organizations were forced to spend enormous energy extracting data manually from different applications and databases. Then, they would have to use things like spreadsheets to transform the data and convert it into meaningful information. 

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