Deloitte Academic Compensation Engine
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Academic Compensation Engine
The Deloitte Academic Compensation Engine streamlines year-end compensation and merit increases in higher education by extending Workday’s Advanced Compensation module. It provides dynamic control and transparency for allocating salary increases across university funds.
Managing year-end compensation and merit increases in higher education is a complex task.
There are special requirements for allocating salary increases to specific funds for faculty members with respect to the annual budget.
Faculty compensation increases are not calculated based on a simple percentage, but rather on several factors such as merit, retention, anomaly, and others. The Deloitte Academic Compensation Engine extends Workday’s Advanced Compensation module to streamline the compensation review process for administrators and managers. It enables them to monitor and adjust compensation allocations within Workday, providing dynamic control and transparency across university funds.
Business Benefits
Many institutions rely upon a complicated web of spreadsheets to manage merit pay. This Workday Extend app allows them to break free of these tedious manual processes. It allows administrators to seamlessly allocate and manage compensation budgets across faculties and departments while maintaining alignment with applicable funding sources.
Overall, the Deloitte Academic Compensation Engine significantly enhances the Advanced Compensation Module within Workday Human Capital Management to streamline incentive-compensation activities. While the Engine is applicable to higher education, especially research universities, it can be applied to many types of educational and public-sector organizations—wherever merit increases are involved and a portion of employee compensation comes from government funding.
The app expedites the compensation review process by enabling administrators
Manage and distribute budgets based on applicable university funds
Cost salary increases appropriately against the correct fund budgets
Dynamically calculate remaining budgets
View and allocate rewards collectively
Control approval flows
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