Overview of Creating a Total Compensation Statement

Configure the design, content, and delivery of a total compensation statement that includes pay such as base pay, variable compensation, fringe benefits, cost of benefits, and paid time off.

The following figure shows the construction of a total compensation statement and how it displays items and categories.

To construct a total compensation statement, application implementors and compensation administrators:

1. Define compensation items that map to sources of estimated or actual amounts paid to workers or costs incurred by the company.

2. Arrange compensation items into categories such as cash compensation, base pay, benefits, or company stock.

3. Assemble categories into statement definitions.

   • Top-level categories in the statement definition appear in the optional summary page and as separate pages in the statement.

   • Display category details on a single page or enable recipients to drill to details in the statement.

   • Configure optional graphical displays of data, worker instructions, and supplemental information such as compensation policies or benefit plan details.

   • Define periods for which statement data is valid and add an optional welcome message for each period.

4. Configure settings that control statement availability and the default stock price and currency used for estimated values.

5. Generate statements by selected population filters, including manager hierarchy, for review by compensation manager.

6. Monitor process logs.

7. Make statements available for workers to view.

8. Purge unneeded statements and monitor processes with summary and detailed online reports.

9. Enable feedback and configure ratings and questions. Feedback lets you gauge employee satisfaction with total compensation thereby improving the total compensation package.

To define total compensation statements, use the Total Compensation Statements task list in the Compensation work area.