Compensation

Oracle Compensation enables your organization to plan, allocate, and communicate compensation using the most complete solution in the market. Make better business decisions using embedded analytics and a total compensation view of workers, regardless of geographic location or pay package components.

  • Rates-Based Salary Basis Type Introduction

You can now maintain a person’s salary using the new rates-based salary basis type, built on the Oracle Fusion Cloud Global Payroll rates engine.

  • Architecture for a Rates-Based Salary Basis

The new salary basis type lets you maintain individual rate components, which can have their own characteristics, such as periodicity and currency.

  • Element rates can accept factors or amounts that are either user-entered or fixed.

Progression grade ladder-based rate definitions derive their rate value from grade or step rates defined in the progression grade ladders.

Derived rates are calculated by adding or subtracting other rates, or multiplying other rates by a factor.

Value by criteria rates can identify rate values based on criteria.

  • Rates-Based Salary Basis Type That Uses Various Categories of Rate Definitions

The sequence column determines the order that the component appears on change salary pages.

Here’s a simple example of salary details for someone with a salary basis that uses rates.

  • Basic salary, enterable
  • Housing allowance calculated as 50% of the basic salary
  • Grade based allowance calculated as $100 for IC1, $200 for IC2 and $10 for other grades
  • Overall salary calculated as the sum of the preceding components
  • Change Salary Transaction with Rates-Based Salary Basis

This feature lets you reduce operating costs by flexibly maintaining your salary in the exact way you offer it.

Steps to Enable

  • Create the appropriate payroll elements.
  • Create the appropriate value definitions by criteria.
  • Create the appropriate rate definitions.
  • Create the appropriate salary basis.
  • Associate the rates-based salary bases with the appropriate worker salaries.
  • Transactional Business Intelligence Enterprise for Compensation

Oracle Transactional Business Intelligence is a real-time, self-service reporting solution offered to all Oracle Cloud application users to create ad hoc reports and analyze them for daily decision-making.  Oracle Transactional Business Intelligence provides human resources managers and specialists, business executives, and line managers the critical workforce information to analyze workforce costs, staffing, compensation, performance management, talent management, succession planning, and employee benefits.

Don’t want to start from scratch building a report or analytics? Check out the library of sample reports for all products on Customer Connect in the Report Sharing Center.

  • Payroll Dimension in Individual Compensation Real-Time

You can now report on payroll attributes with the addition of the Worker Payroll dimension in the Compensation – Individual Compensation Real Time subject area.

This addition helps you report on payroll details, such as worker payroll name, frequency, and start and end dates.

Steps to Enable

You don’t need to do anything to enable this feature.

IMPORTANT Actions and Considerations for Compensation

REPLACED OR REMOVED FEATURES

From time to time, Oracle replaces existing Cloud service features with new features or removes existing features. When a feature is replaced the older version may be removed immediately or at a future time. As a best practice, you should use the newer version of a replaced feature as soon as the newer version is available.

KNOWN ISSUES / MAINTENANCE PACK SPREADSHEETS

Oracle publishes a Known Issues document for every Update to make customers aware of potential problems they could run into and the document provides workarounds if they are available.

Oracle also publishes Maintenance Pack and Statutory Maintenance Pack documentation of bugs that are fixed in the monthly or statutory patching.

To review these documents you must have access to My Oracle Support:

Oracle Human Capital Management Cloud Functional Known Issues and Maintenance Packs

Enchant Apps has a team of Oracle Cloud experts across all modules. If you are interested in learning more or have a project where you need Oracle cloud expertise, feel free to contact us!

Oracle Fusion Cloud Compensation 24C – What’s New?

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