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Compensation Plan: A framework defining pay components (e.g., base salary, bonuses) for roles configured in Oracle Compensation Cloud.
Base Salary: Fixed pay for an employee, set in the Compensation Plan, often aligned with Content Library role definitions.
Total Compensation Statement: A report showing an employee’s full pay package (salary, benefits, bonuses), accessible via self-service.
Compensation Cycle: A scheduled process (e.g., annual review) to allocate raises or bonuses using Compensation Plans and Performance Data.
Budget Pool: Funds allocated for a Compensation Cycle, distributed to managers for salary adjustments or bonuses.
Compensation Worksheet: A tool for managers to propose pay changes during a Compensation Cycle, integrating with Talent Profiles.
Individual Compensation: Individual Compensation allows for ad-hoc pay adjustments (e.g., raises, bonuses) for specific employees, ensuring flexibility in rewarding performance or addressing unique needs.
Individual Compensation Plan: A configurable plan for one-off pay adjustments (e.g., retention bonus, spot award), distinct from Compensation Plans in Compensation Management.
Spot Award: A one-time bonus for exceptional performance allocated via an Individual Compensation Plan.
Salary Adjustment: A change to an employee’s Base Salary outside a Compensation Cycle, managed through Individual Compensation.
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