Glossary of Terms

Workday Core Compensation Training

Glossary of Terms

Glossary of Terms

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Session 1 - Navigating Workday Tenant and Key Tools

Session Video - Navigating Workday Tenant and Key Tools (80:07)
Assignment
Quiz

Session 2 - Building Supervisory Structures and Staffing Models

Session Video - Building Supervisory Structures and Staffing Models (67:39)
Assignment
Quiz

Session 3 - Creating Custom Orgs and Defining Job Profiles

Session Video - Creating Custom Orgs and Defining Job Profiles (68:41)
Assignment
Quiz

Session 4 - Designing Business Flows and Executing Hire

Session Video - Designing Business Flows and Executing Hire (60:38)
Assignment
Quiz

Session 5 - Tracking Worker History and Role Security

Session Video - Tracking Worker History and Role Security (65:16)
Assignment
Quiz

Session 6 - Security Concepts and Foundation of Compensation

Session Video - Security Concepts and Foundation of Compensation (59:00)
Assignment
Quiz

Session 7 - Structuring Grades, Profiles and Pay Packages

Session Video - Structuring Grades, Profiles and Pay Packages (47:51)
Assignment
Quiz

Session 8 - Setting Up Merit Adjustments, Bonus and Stock Plans

Session Video - Setting Up Merit Adjustments, Bonus and Stock Plans (47:52)
Assignment
Quiz

Session 9 - Managing Commission, Salary Periods and Retirement Plan

Session Video - Managing Commission, Salary Periods and Retirement Plan (49:21)
Assignment
Quiz

Session 10 - Handling One Time Payments and Hire Compensation

Session Video - Handling One Time Payments and Hire Compensation (54:43)
Assignment
Quiz

Session 11 - Executing Compensation Change and Basis Total

Session Video - Executing Compensation Change and Basis Total (52:22)
Assignment
Quiz

Session 12 - Configuring Basis Rules and Allowance Components

Session Video - Configuring Basis Rules and Allowance Components (54:20)
Assignment
Quiz

Session 13 - Creating Packages, Grades and Eligibility Defaults

Session Video - Creating Packages, Grades and Eligibility Defaults (48:51)
Assignment
Quiz

Additional Videos

1. Overview of Workday Structure and Compensation Modules (46:46)
2. User Interface Walkthrough and Search Features Explained (97:16)
3. Session Video - Payment Frequencies and Element Mapping Configuration (98:03)
4. Session Video - Creating Salary Setup with Eligibility Conditions Applied (82:52)
5. Session Video - Business Processes and Automatic Plan Assignment Logic (100:41)
6. Designing Basis Formulas Using Custom Calculation Methods (108:25)
7. Commissions Handling and Stock Distribution Representation (85:16)
8. Merit Strategy, Bonus Planning and Scorecard Weighting (54:56)

Assessments - Part A - HCM Core for Administrators

Assessment - 1. Workday Tenants and Tools
Assessment - 2. Overview of Workday HCM Core Concepts
Assessment - 3. Organizations and Hierarchies
Assessment - 4. Staffing Models
Assessment - 5. Compensation Framework
Assessment - 6. Job Profiles
Assessment - 7. Prepare for Hire
Assessment - 8. Configurable Security Framework
Assessment - 9. Workday HCM Business Processes

Assessments - Part B - Compensation for Administrators

Assessment - 1. Compensation Overview
Assessment - 2. Compensation Eligibility Rules
Assessment - 3. Default Compensation
Assessment - 4. Compensation Basis
Assessment - 5. Compensation Elements and Grades
Assessment - 6. Compensation Plans and Packages
Assessment - 7. Advanced Compensation Plans
Assessment - 8. One-Time Payments
Assessment - 9. Propose Compensation Hire
Assessment - 10. Propose Compensation Change
Assessment - 11. Requesting Compensation Changes
Assessment - 12. Manage Basis Total

Assignments - Part A - HCM Core for Administrators

Assignment - 1. Workday Tenants and Tools
Assignment - 2. Overview of Workday HCM Core Concepts
Assignment - 3. Organizations and Hierarchies
Assignment - 4. Staffing Models
Assignment - 5. Compensation Framework
Assignment - 6. Job Profiles
Assignment - 7. Prepare for Hire
Assignment - 8. Configurable Security Framework
Assignment - 9. Workday HCM Business Processes

Assignments - Part B - Compensation for Administrators

Assignment - 1. Compensation Overview
Assignment - 2. Compensation Eligibility Rule
Assignment - 3. Default Compensation
Assignment - 4. Compensation Basis
Assignment - 5. Compensation Elements & Compensation Grades
Assignment - 6. Compensation Plans & Compensation Packages
Assignment - 7. Advanced Compensation Plans
Assignment - 8. One Time Payments and Future Payment Plans
Assignment - 9. Propose Compensation Hire
Assignment - 10. Propose Compensation Change
Assignment - 11. Requesting Compensation Changes
Assignment - 12. Manage Basis Total

Lab Activity

Lab Activity - 1. Configure Tenant Settings - HCM
Lab Activity - 2. Create Eligibility Rules
Lab Activity - 3. Evaluate Rule Efficiency
Lab Activity - 4. Assign Position-Based Compensation
Lab Activity - 5. Configure Requisition-Based Compensation
Lab Activity - 6. Create Compensation Elements
Lab Activity - 7. Define Compensation Grades
Lab Activity - 8. Create Compensation Grades with Steps
Lab Activity - 9. Hiring with Step Progression
Lab Activity - 10. Execute Step Progression
Lab Activity - 11. Create a Compensation Basis
Lab Activity - 12. Add Basis to Compensation Grades
Lab Activity - 13. Link Basis to Merit-Based Pay
Lab Activity - 14. Compare Full-Time Equivalent (FTE) Configurations
Lab Activity - 15. Configure Unit Salary Plan
Lab Activity - 16. Setup Period Salary Plan
Lab Activity - 17. Design Hourly Compensation Plans
Lab Activity - 18. Develop an Allowance Plan
Lab Activity - 19. Modify an Existing Compensation Plan
Lab Activity - 20. Review a Calculated Plan
Lab Activity - 21. Build a Compensation Package
Lab Activity - 22. Configure a Stock Plan
Lab Activity - 23. Submit a Stock Grant Request
Lab Activity - 24. Setup Bonus Plans
Lab Activity - 25. Develop Merit Plans
Lab Activity - 26. Setup One-Time Payment Plans
Lab Activity - 27. Submit a One-Time Payment
Lab Activity - 28. Configure True-Up Process
Lab Activity - 29. Use Segmented Security to Secure One-Time Payment Options
Lab Activity - 30. Draft a Compensation Proposal
Lab Activity - 31. Create Allowance Plans
Lab Activity - 32. Edit Compensation Grades and Packages
Lab Activity - 33. Complete Compensation Setup for New Hire
Lab Activity - 34. Execute Compensation Change
Lab Activity - 35. Modify Security Configuration for Tasks
Lab Activity - 36. Finalize Compensation Changes
Lab Activity - 37. Correct Compensation Records
Lab Activity - 38. Create a Base Pay Change Request
Lab Activity - 39. Configure Embedded Analytics
Lab Activity - 40. End Date Process
Lab Activity - 41. Rollout Plans
Lab Activity - 42. Remove Plans and Events in Progress
Lab Activity - 43. Define Total Reward Rules
Lab Activity - 44. Create Templates for Total Rewards
Lab Activity - 45. Run Payroll and Analyze Results
Lab Activity - 46. Configure Severance Plans
Lab Activity - 47. Create Severance Worksheets
Lab Activity - 48. Modify Termination Compensation
Lab Activity - 49. Create a Benchmark Job
Lab Activity - 50. Review Configuration
Lab Activity - 51. Create an Academic Compensation Period
Lab Activity - 52. Assign Academic Compensation
Lab Activity - 53. Review Configuration
Lab Activity - 54. Period-Based Compensation Assignment
Lab Activity - 55. Configure Subtractive Compensation Basis
Lab Activity - 56. Hire an Employee Using MBT

Certification MCQ's

Workday Pro Compensation - Set 1
Workday Pro Compensation - Set 2
Workday Pro Compensation - Set 3

Capstone Projects / Case Studies

Capstone Project - 1. Advanced Compensation Analytics for HiTech Corporation
Capstone Project - 2. Building a Comprehensive Rewards Program for Company XYZ
Capstone Project - 3. Compensation Integration for a Merger & Acquisition
Capstone Project - 4. Global Compensation Planning for Multinational Company
Capstone Project - 5. Transitioning to Automated Compensation Management

Interview Questions

Interview Questions - Set 1
Interview Questions - Set 2
Interview Questions - Set 3
Interview Questions - Set 4
Interview Questions - Set 5

Sample Resumes

Sample Resume - Fresher Workday Core Compensation Consultant
Sample Resume - Mid-level Workday Core Compensation Consultant (4 Years Experience)
Sample Resume - Senior Workday Core Compensation Consultant (9+ Years Experience)

Prepare your LinkedIn profile

LinkedIn Cheat Sheet

Prepare your Resume

Resume Cheat Sheet

Final Quiz

Test Your Knowledge

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Glossary of Terms

Glossary of Workday Core Compensation Terms.pdf

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