02 — Capability · BC-350
Compensation & Benefits
Pay people accurately, competitively and on time, and provide the benefits that make the total package worth staying for, within a cost the organization can sustain.
- Total Rewards
- Comp & Ben
- Rewards
In scope
- Pay structures, salary ranges and market benchmarking
- Variable pay, bonus and equity plans
- Benefits plan design, enrollment and administration
- Payroll calculation and payment, and time and absence capture that feeds it
Out of scope
- The performance rating that drives a pay decision (see BC-340)
- Posting payroll cost to the general ledger (see BC-210)
- Payroll tax filing and remittance (see BC-240)
Realized by · 4
- Workday · Compensation and Benefitsstrong via BC-350.10
- Workday · Payrollstrong via BC-350.50
- Workday · Time and Absencestrong via BC-350.60
- Oracle Fusion Cloud Applications · Human Capital Managementstrong via BC-350.50
Used in · 3
- Hire-to-Retire · 01 Plan & Open Role via BC-350.10
- Hire-to-Retire · 04 Pay & Administer via BC-350.50
- Hire-to-Retire · 06 Separate & Offboard via BC-350.50
Build it · 0
- Nothing in the library points here yet.
Decomposes into · 6
- BC-350.10Pay Structure & BenchmarkingDefine how much each job is worth to the organization relative to the market and to other jobs, and publish the ranges managers and recruiters must stay within.
- BC-350.20Variable Pay & EquityDesign and run the bonus, commission, incentive and equity plans that tie part of pay to results, and pay them out correctly when the results are in.
- BC-350.30Compensation CycleRun the periodic process in which merit increases, adjustments and bonuses are proposed, budgeted, approved and communicated, once a year or whenever the organization decides.
- BC-350.40BenefitsChoose, fund and administer the health, retirement, insurance, leave and wellbeing benefits the organization offers, and get people enrolled in the right ones.
- BC-350.50PayrollPay every person the right amount on the right day, with deductions, withholdings and records correct in every jurisdiction the organization employs people in.
- BC-350.60Time & AbsenceCapture the hours people work and the time they take off accurately enough to pay them, bill customers, staff operations and comply with working-time rules.