Prepare to Start a Workforce Compensation Cycle

Administering workforce compensation is an iterative process. It involves preparing for the cycle, administering individuals and workforce compensation plans during the cycle, and closing the cycle. Follow these steps to prepare for the cycle. The tasks are in My Client Groups > Compensation unless otherwise specified.

Start Cycle Preparation

Step	Task
Identify new features and enhancements released since you last prepared to start a workforce compensation cycle that you want to include in this cycle.	docs.oracle.com > Human Resources > Learn What's New in Your Update
Determine what configuration changes to make to workforce compensation plans based on feedback survey results from the previous cycle.	Manager Feedback
Assess and update eligibility profiles used in the eligibility configurations for the workforce compensation plans and compensation components.	Eligibility Profiles
Review existing workforce compensation plans and create additional plans for the upcoming compensation cycle, as appropriate. Create the plan cycle. Plans and cycles share compensation performance ratings and promotions according to the Performance Rating Date and Default Promotion Effective Date plan cycle dates. If you aren't planning to view and change ratings and promote individuals during the new cycle, set different dates in the new plan cycle configurations. Validate the hierarchies and default access levels. Review the corporate currency and currency switching settings. Validate the plan access. Update feedback survey and plan information to reflect current language and policies. Validate the budget pools and display settings. Validate the enabled compensation components and make sure that the appropriate component is linked to the plan budget pool. Validate the performance ratings. Integration with Performance Management is common across plan cycles. This means that people use the same rating model across plan cycles and they see the most recent performance management ratings in the plan worksheets. Review the remaining worksheets configurations. To view current and revised configurations, use the Preview option whenever it's available. Validate your changes thoroughly and resolve any errors that might affect processing.	Workforce Compensation Plans
See how the plan and compensation component eligibility affects the plan worksheet populations.	View Administration Reports > Status and Monitoring > Worker Eligibility Details