A sequence of one or more tasks related to defining, targeting, and awarding merit pay to employees. In this process, a compensation administrator creates the merit plan definition. The administrator or manager assigns the merit plan to employees through one of various means. Assignment of the plan determines eligibility for the merit compensation event. The administrator sets up the merit process, which funds the merit pool, and then launches the process on the specified event date.
Workday creates merit compensation events for employees based on their organization. Managers review the target merit increases for their employees and submit merit increase proposals for review. Once approved, the employees receive their merit increases.