Analyzing Scenarios

This section provides an overview of scenario data analysis and discusses how to:

Review market compensation scenario summary data.
Review market compensation scenario fit to market data.
Review market compensation scenario gap to target data.
Review market compensation scenario market rate detail data.

Pages Used to Analyze Scenarios

Page Name	Definition Name	Navigation	Usage
Market Compensation Scenario - Scenario Summary	WA_MC_SCNSUM	select Workforce Analytics, then select Market Compensation, then select Analyze and Approve, then select Review Market Scenario, then select Market Compensation Scenario - Scenario Summary	Review a summary of the market compensation results for a particular scenario and job code, including a comparison of the market fit to the market targets.
Market Compensation Scenario - Fit to Market	WA_MC_SCNFIT	select Workforce Analytics, then select Market Compensation, then select Analyze and Approve, then select Review Market Scenario, then select Market Compensation Scenario - Fit to Market	Review a summary of monetary value and variance details about market fit data as compared to the employee average, for each type of compensation for each job code included in the scenario.
Market Compensation Scenario - Gap to Target	WA_MC_SCNGAP	select Workforce Analytics, then select Market Compensation, then select Analyze and Approve, then select Review Market Scenario, then select Market Compensation Scenario - Gap to Target	Review a summary of monetary value and variance details about the market target data as compared to the employee average, for each type of compensation for each job code included in the scenario.
Market Compensation Scenario - Market Detail	WA_MC_SCNDET	select Workforce Analytics, then select Market Compensation, then select Analyze and Approve, then select Review Market Scenario, then select Market Compensation Scenario - Market Detail	Review the market rates for a particular scenario and job code, including the market range for a particular scenario, job code, and compensation code.

Understanding Scenario Data Analysis

After you've generated a market compensation scenario, check the market compensation rates against your current workforce compensation data. Determine whether the scenario market rates are skewed, or in agreement with what you were expecting to see. To assist with scenario data analysis, we deliver an inquiry component consisting of four pages.

The review and analysis process is iterative. If you find that you don't like the results of the scenario that you just generated, then run additional scenarios with a different set of rules and dimension values. Adjust the scenario until you feel that you have valid market rate data to use as a basis for comparison and strategy. Then decide whether to approve and publish the new market rates. Some examples of the types of questions to consider during this process are:

Does this scenario make sense?
Are these the results that you would expect?
Did you do something wrong in the process, resulting in skewed data?
Was the survey data valid for your situation?
Were your weighting rules valid for your situation?

Common Elements Used in This Section

Establish Target Market Rates

Select this link to return to the Establish Target Market Rates page.

The Market Compensation Scenario pages use market rate IDs (the Measure ID), which you must occasionally modify in the Establish Target Market Rates page. This link enables you to move directly to the Establish Target Market Rates page without having to navigate the menu.

Market Compensation Scenario - Scenario Summary Page

Use the Market Compensation Scenario - Scenario Summary page (WA_MC_SCNSUM) to review a summary of the market compensation results for a particular scenario and job code, including a comparison of the market fit to the market targets.

Navigation

select Workforce Analytics, then select Market Compensation, then select Analyze and Approve, then select Review Market Scenario, then select Market Compensation Scenario - Scenario Summary

Image: Market Compensation Scenario - Scenario Summary page 1 of 2

This example illustrates the fields and controls on the Market Compensation Scenario - Scenario Summary page 1 of 2. You can find definitions for the fields and controls later on this page.

Image: Market Compensation Scenario - Scenario Summary page 2 of 2

This example illustrates the fields and controls on the Market Compensation Scenario - Scenario Summary page 2 of 2. You can find definitions for the fields and controls later on this page.

Use this page after you have run the Market-Based Pricing process. The process calls the Market Compensation process (WA_MC_SCEN), which populates the underlying fact table accessed by this page, the WA_MC_SCEN_FACT table.

The Market Compensation Scenario - Scenario Summary page provides you access to three additional pages in the Market Compensation Scenario component. On each page, the system displays the business unit and scenario ID that you selected to open the component. The system also displays the as of date, currency code, and approval status of the scenario.

Note: On pages such as these, you can apply row-level security at the scenario level. This means that if your implementation has scenario security and you don't have security access to view a scenario, you won't. The scenarios that you see on these pages can vary depending upon your level of security access.

Market Fit Versus Market Target

The chart and grid display information about the market fit and the market target for each job code and compensation code combination in the scenario.

Market Fit

Displays the calculated survey data percentile (or measure ID) that is closest to the current employee average compensation. The employee average base pay is calculated from the annual amount in the JOB table, while other compensations (cash and variable compensations) are calculated based on aggregation of the amounts in WA_COMP_HST_F00. To view market fit data on this page, you must have run the Market-Based Pricing process.

Market Target

Displays the specified target survey data percentile (or measure ID) from the Target Market Rates page. If you have not entered target market rates on the Target Market Rates page, then you may not see market target data on the Market Compensation Scenario - Scenario Summary page. Think of these target rates as pay guidelines, in support of your organization's overall pay strategy.

When you first run the Market-Based Pricing process, use this page to evaluate the market fit, that is, determine the survey data percentile that best fits your organization's pay strategy. Then use the Target Market Rates page to make the chosen survey data percentile a target rate for your pay strategy. Run the MBP_FACT jobstream (which includes the WA_MC_SCEN process) to repopulate the WA_MC_SCEN_FACT table. After you have performed these steps, return to this page and view the market target data, allowing a side by side comparison of the market fit and the market target data. You can also use the other three pages in this component to navigate through the data to view monetary values, variances, and market compensation ranges for each job code and compensation code in the scenario.

Perform this process repeatedly, until you are satisfied that you have valid market compensation scenarios for your benchmark job codes. Then use the results in the WA_MKT_SCEN_TBL table to establish target market rates for your benchmark and non-benchmark jobs.

Market Compensation Scenario - Fit to Market Page

Use the Market Compensation Scenario - Fit to Market page (WA_MC_SCNFIT) to review a summary of monetary value and variance details about market fit data as compared to the employee average, for each type of compensation for each job code included in the scenario.

Navigation

select Workforce Analytics, then select Market Compensation, then select Analyze and Approve, then select Review Market Scenario, then select Market Compensation Scenario - Fit to Market

Image: Market Compensation Scenario - Fit to Market page

This example illustrates the fields and controls on the Market Compensation Scenario - Fit to Market page. You can find definitions for the fields and controls later on this page.

Compensation Code

Displays the compensation type associated with a specified job code.

Measure ID

Displays a percentile of the market rate used to calculate monetary amounts for employee average, variance, and employee total, for a given job code and compensation type.

Measure Value

Displays the calculated market rate value for a specified percentile of a market rate, and for a particular scenario and job code.

This is the annual, monetary pay level that you compare against the compensation level for similar jobs in your organization.

Employee Average

Displays the average employee amount calculated for a specified market rate (measure ID) and compensation type.

Variance

Displays the variance, or difference, between the Measure Value and employee average for each type of compensation for each job code included in the scenario.

Employee Total

Displays the total compensation amount for all employees for each type of compensation for each job code included in the scenario.

Note: You must run the Market-Based Pricing application engine process (WA_MBP) to correctly populate this field.

Market Compensation Scenario - Gap to Target Page

Use the Market Compensation Scenario - Gap to Target page (WA_MC_SCNGAP) to review a summary of monetary value and variance details about the market target data as compared to the employee average, for each type of compensation for each job code included in the scenario.

Navigation

select Workforce Analytics, then select Market Compensation, then select Analyze and Approve, then select Review Market Scenario, then select Market Compensation Scenario - Gap to Target

Image: Gap to Target page

This example illustrates the fields and controls on the Gap to Target page. You can find definitions for the fields and controls later on this page.

Compensation Code

Displays the compensation type associated with a specified job code.

Measure ID

Displays the market rate used to calculate monetary amounts for employee average, variance, and employee total, for a given job code and compensation type.

Measure Value

Displays the actual monetary amount calculated for a specified market rate (measure ID) and compensation type.

Employee Average

Displays the average employee amount calculated for a specified market rate (measure ID) and compensation type.

Variance

Displays the variance, or difference, between the employee average amount and the employee total amount.

Employee Total

Displays the total compensation amount for all employees for each type of compensation for each job code included in the scenario.

Note: You must run the Market-Based Pricing application engine process (WA_MBP) to correctly populate this field.

Market Compensation Scenario - Market Detail Page

Use the Market Compensation Scenario - Market Detail page (WA_MC_SCNDET) to review the market rates for a particular scenario and job code, including the market range for a particular scenario, job code, and compensation code.

Navigation

select Workforce Analytics, then select Market Compensation, then select Analyze and Approve, then select Review Market Scenario, then select Market Compensation Scenario - Market Detail

Image: Market Detail page 1 of 2

This example illustrates the fields and controls on the Market Detail page 1 of 2. You can find definitions for the fields and controls later on this page.

Image: Market Detail page 2 of 2

This example illustrates the fields and controls on the Market Detail page 2 of 2. You can find definitions for the fields and controls later on this page.

This page displays details about the range of monetary values as well as associated percentiles (or measure IDs) for each type of compensation for each job code included in the scenario.

Best Compensation Fit

The system selects a check box to indicate the market compensation measure ID whose value is closest to the employee average.

Benchmark

The system selects a check box to indicate the market compensation measure ID that is closest to your existing target rate. Think of the target rate as a pay guideline, in support of your organization's overall pay strategy.