You are creating a compensation package. What can you add to the compensation package?

A Workday Compensation Package is a container that groups various compensation components which can then be assigned to an employee. These components include compensation plans, grades, and grade profiles. A One-Time Payment Plan, used for non-recurring payments like spot bonuses or referral awards, is a standard type of compensation plan that can be created and directly added to a compensation package. This makes the plan available for assignment during compensation events or through ad-hoc requests.

A. Retirement plan: Retirement plans are configured within the Benefits functional area, not Core Compensation. They are not added directly to a compensation package.

C. Calculated plan: This is a descriptive term, not a specific type of compensation plan in Workday. While many plans (like bonus or allowance) are calculated, "Calculated Plan" is not a selectable component.

D. Future payment plan: This is not a standard Workday plan type. Compensation plans can have future effective dates, but "Future Payment Plan" is not a configurable plan category.

1. Workday Official Documentation

"Set Up Core Compensation" Guide: The section on "Compensation Packages" details the objects that can be included. It explicitly lists "Compensation Plans" as a primary component. The guide further specifies the types of plans

including Salary

Hourly

Allowance

Bonus

and One-Time Payment plans

that can be added to the package grid during configuration. (Reference: Workday Administrator Guide

Core Compensation

Chapter: Set Up Compensation Packages).

2. Workday Official Documentation

"Compensation Plan Types" Reference: This documentation defines the various compensation plan types available for configuration. It describes a "One-Time Payment Plan" as a plan used to administer non-recurring payments to workers. This confirms it as a distinct and valid plan type that is managed within the compensation framework and can be associated with a compensation package. (Reference: Workday Community

Article ID: 20831

"Compensation Plan Types Explained").