When capturing Workforce expenses for employees, what must be enabled?

Enabling standard rates from Workforce is essential for accurately capturing workforce expenses for employees. The standard rates provide a foundational guideline that reflects the costs associated with employee compensation and benefits, ensuring that the expenses allocated to workforce planning and budgeting are consistent and based on predefined criteria. This directly impacts the accuracy of financial models and predictions within the Enterprise Planning and Budgeting Cloud (EPBCS), as it allows organizations to assess labor costs effectively.

By using standard rates, organizations can establish a consistent method for calculating labor-related expenses, thereby facilitating better decision-making and budget management. This is particularly important in workforce planning, where understanding the cost implications of hiring, maintaining, and compensating employees is crucial for effective financial oversight.