In Oracle Fusion Human Capital Management (HCM), Compensation Management is handled by Oracle Compensation Cloud, a module that manages employee pay, bonuses, and benefits, ensuring alignment with organizational goals and compliance. Below is a modern, minimal overview of Compensation Management terminologies focusing on Oracle Compensation Cloud.
Employee compensation is a critical aspect of human resource management and plays a pivotal role in attracting, retaining, and motivating employees. It encompasses various forms of payment or rewards an organization provides its employees for their services. Compensation can be monetary, such as salaries, bonuses, and stock options, or non-monetary, including benefits like health insurance, retirement plans, and paid time off
Subject areas used: Individual Compensation Real Time