Comp Plan Setups- Configure Plan Hierarchies
Comp Plan Setups – Configure Plan Hierarchies
Comp Plan Setups- Configure Budget Overview
To configure the budget overview in Oracle Fusion for compensation plans, you will set up how budgets are defined, allocated, and managed within the compensation process. This allows managers and HR professionals to track compensation expenses, ensure compliance with budget limits, and make informed decisions during compensation cycles. Here’s a step-by-step guide to configuring the …
Comp Plan Setups- Configure Plan Cycles
To configure plan cycles in Oracle Fusion for compensation plans, you need to set up the time frames during which compensation processes, such as salary reviews, bonus payouts, and merit increases, will be conducted. Plan cycles define when compensation adjustments occur and how they are managed over a specific period. Here’s a step-by-step guide to …
Comp Plan Setups- Configure Plan Components
Setting up compensation plans in Oracle Fusion involves configuring various components like plan types, eligibility profiles, performance ratings, budget pools, etc. Here’s an outline of how to configure these components in Oracle Fusion HCM: 1. Navigate to Compensation Work Area Go to Navigator > Compensation > Manage Compensation Plans. 2. Create a Compensation Plan In …
Comp Plan Setups- Configure Worksheet Approvals
Configuring Worksheet Approvals in Oracle Fusion HCM for compensation plans is essential to ensure that compensation proposals made by managers follow a defined approval workflow before final submission. Here’s how you can configure worksheet approvals step-by-step: 1. Navigate to Compensation Work Area Go to Navigator > Compensation > Manage Compensation Plans. 2. Open the Compensation …
Comp Plan Setups- Configure Alerts In Worksheet
Configuring alerts in worksheets for compensation plans in Oracle Fusion helps managers receive notifications and prompts when specific conditions are met during the compensation process. These alerts ensure that managers adhere to organizational guidelines, such as budget limits, employee eligibility, or performance thresholds. Here’s how you can configure these alerts: 1. Navigate to Compensation Work …
Comp Plan Setups- Configure Plan Eligibility
Configuring plan eligibility in Oracle Fusion is essential to define which employees are eligible to participate in a specific compensation plan. This ensures that compensation plans, such as bonuses, salary increases, or stock awards, are applied only to the appropriate employees based on predefined criteria like job roles, grades, or locations. Here’s a step-by-step guide …
Comp Plan Setups- Configure Plan Access
Configuring Plan Access in Oracle Fusion is crucial for controlling who can view, edit, or manage specific compensation plans. This ensures that sensitive compensation data is only accessible to authorized users, such as compensation administrators, managers, or HR personnel. Here’s a step-by-step guide to configuring plan access: 1. Navigate to Compensation Work Area Go to …
Comp Plan Setups- Backout Compensation Data From HR
To back out compensation data from HR in Oracle Fusion, the goal is to undo or remove compensation changes that have been submitted but may need to be retracted due to errors, changes in business strategy, or other reasons. Backing out compensation data is usually performed when incorrect data has been entered or when compensation …
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Comp Plan Setups- Transfer Compensation Data To HR
Transferring compensation data from a compensation plan to HR in Oracle Fusion HCM is the final step after the compensation review and approval process. This step updates the employee records in the HR system based on the decisions made during the compensation cycle. Here’s how you can configure and execute this process: 1. Navigate to …
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