Workday Points of Interest: What You Need to Know Benefit Information within Workday
While there is a Benefits screen within Workday, please note that the only benefit information displayed is your 401(k) deferral election. To make any changes to your 401(k) deferral or to update your 401(k) beneficiaries, please visit the John Hancock Retirement Plan Services website at myplan.johnhancock.com.
All other benefit enrollments, including health, dental, vision, and life insurance, are managed through EOI/ bswift at benefits.walshgroup.com. This information feeds into Workday as Payroll Input Data and is reflected in your paycheck deductions. We recommend that employees regularly review their benefit deductions on their payslips within Workday to ensure accuracy.
Beneficiaries for your benefit plans (other than 401(k)) are also maintained at benefits.walshgroup.com and should be reviewed and updated as needed.
Benefits Open Enrollment for the 2026 benefit plan year will be conducted in November 2025. Additional information and instructions regarding the enrollment process will be shared by email as the date approaches. Please watch for important communications to ensure you do not miss any deadlines or updates. Compensation Grades, Tiers, and Their Importance in Workday In Workday, Compensation Grades and Tiers are assigned directly to a Non-Trade Job Profile to help define the appropriate pay structure for a given position. This ensures consistency, fairness, and compliance across the organization. The Compensation Grade outlines the overall pay range (minimum, midpoint, and maximum) for a specific job or group of jobs. It is tied to market data and internal compensation review, ensuring roles are aligned with industry standards and organizational equity.
The Tier provides an additional level of specificity within a salary grade based on the physical work location of employee. Tiers help ensure that employees within the same job profile can be differentiated appropriately for pay purposes. Assigning the correct Compensation Grade and Tier to each Non-Trade Job Profile is essential to: promote internal equity by aligning similar roles with consistent pay standards, support compliance with labor laws and compensation policies, and provide a structured foundation for merit increases, promotions, and budgeting.
During the annual review process, an employee’s Comp Ratio (short for Comparative Ratio) is reviewed. This ratio compares an employee’s current salary to the midpoint of the assigned Compensation Grade and Tier for that specific employee. Reviewing Comp Ratios ensures that salary decisions are made based on data and aligned with pay guidelines.
Made with FlippingBook. PDF to flipbook with ease