COMPENSATION MANAGEMENT

Automate Compensation Planning for Improved Visibility and Governance

Still trying to manage compensation planning across business units and cost centers using cumbersome spreadsheets and manual approval processes? Spending valuable time and resources emailing worksheets back and forth and making sure the approved compensation data gets back into your HR system? This approach is not only tedious and time-consuming, but it also leaves too much room for error. Fortunately, compensation management doesn’t have to be so hard.

Our compensation management module, an add-on to our HR solution, automates and streamlines the entire compensation management process — from defining programs and guidelines to budgeting and modeling to routing proposals for approval. Seamless integration with our HR module significantly reduces error-prone data entry, provides ready access to employee profiles and performance history, and helps improve data consistency. With our compensation management module, you have robust decision-making tools at your fingertips and better visibility into all phases of the compensation planning process. The results? Reduced administrative burdens. Improved corporate governance. More equitable distribution of rewards. And greater control over your compensation spend.

Setup Compensation Cycles In a Snap

Our compensation management module enables you to set up compensation cycles with remarkable speed and ease. Simply define the program type, enter the start and end dates, assign a cycle manager, and specify the employee type to be included, such as hourly, salary, seasonal, or executive. The application supports annual, nonannual, cycle-based, and off-cycle merit and promotion-based salary increases. For optimal flexibility, you can even define program eligibility and manage plans that cross multiple business units.

Looking to factor employee performance into the compensation planning process? The built-in Merit Matrix tool makes it simple to award pay increases based on the correlation between an employee’s performance rating and pay grade. So you can effectively tie compensation to individual accomplishments and contributions to support pay-for-performance.
What’s more, individual employee information — including status, pay grade, location, and shift — is visible throughout the process, so you know you’re working with current, accurate data.

Define Budgets for Each Compensation Cycle

Our compensation management module lets you define the budget for each compensation cycle using an intuitive, spreadsheetlike interface. The application supports both top-down and bottom-up budgeting processes — with appropriate approval workflows — and your choice of salary structure.

Model compensation scenarios to optimize your labor spend

Managers can model compensation scenarios for their direct reports using the application’s built-in worksheets. Or they ® and seamlessly import updates back into our solution. Managers can enter merit increases by percentage or flat amount and see how much of the budget has been allocated in real time. Pre-configured budget guidelines help managers allocate increases in alignment with the corporatewide compensation strategy to support equitable rewards and minimize overspend. Employee profile data and performance history are always just a click away to help inform compensation decisions.

Drive Efficiency From Start to Finish

Proposed increases are automatically routed through a configurable approval workflow; automated alerts and reminders keep the process moving forward. Security controls let you determine who can access specific information and functionality, and who has override privileges at each step in the process. In addition, an innovative “mass finalize” function makes it easy for HR or compensation managers to review and approve increases for all employees — without having to drill down into each proposal individually.

Leverage an Integrated Human Capital Management Suite

Our compensation management module is part of our fully integrated, cloud-based human capital management (HCM) suite. The powerful solution suite delivers the complete automation and high-quality information you need to manage your workforce — from pre-hire to retire — using a seamlessly unified human capital management platform with a common user interface, database, and workflows. Our HCM solution provides the single-source, real-time data access you need — across time and attendance, HR, compensation, payroll, scheduling, and more — to control labor costs, minimize compliance risk, and improve workforce productivity. And because it’s a software-as-a-service (SaaS) solution available for a predictable per-employee-per-month fee, it eliminates IT headaches while delivering continuous value for bottom-line results.

Key Benefits

• STREAMLINE compensation planning with automated tools and workflows
• GAIN increased visibility into all phases of compensation planning
• IMPROVE corporate governance with automated enforcement of compensation guidelines
• MAKE fair, equitable compensation decisions across the organization

Contact us (859-817-2280) for a Free Consultation!