Workforce Rewards Overview

Oracle's Workforce Rewards is an analytical application you can use to align your workforce compensation and retention initiatives with the strategic objectives of your organization. Workforce Rewards helps you bring your total rewards picture into focus, so you can most effectively support your most important asset in today's business environment, your workforce. With Workforce Rewards you can:

Integrate data from multiple internal and external sources.
Enrich the data using rules you define based on any data in the Operational Warehouse - Enriched (OWE).
Simulate multiple scenarios of future workforce retention, growth, reduction, and compensation activity.
Analyze and evaluate your scenarios, and make decisions you can communicate back to your PeopleSoft eBusiness applications for execution.

Workforce Rewards helps you determine the overall value of your compensation package, then puts that information in the context of the overall marketplace so that you can drive a competitive compensation strategy.

Process Flow

To set up and use Workforce Rewards:

Complete setup of EPM Foundation and the OWE.
Import, by ETL, data from HRMS source tables into the OWE.
Create a centralized repository of workforce-related data in the OWE.
Compile, analyze, and apply market compensation data from external, third-party, compensation surveys.
Create or revise base pay structures aligned with your organization's pay strategy.
Create scenarios to develop your organization's workforce retention strategy. Assess your workforce retention risks, values, and replacement costs. Determine which employees to track moving forward, reduce from your workforce, or act to retain (including what action to take).
Create simulations of workforce headcount growth and reduction. Create forecasted compensation scenarios, to evaluate the costs and impacts of changes to compensation plans across business units or other groups.

See PeopleSoft Products.