Compensation and Incentive Management
Compensation and incentive management is an integral part of managing an organization. It contributes to the overall success of the organization by helping managers understand the true value of human capital and supporting both employee growth and organization objectives.
Over the past few years, companies have started using greater analytical and information gathering capabilities of ERP solutions to roll out sophisticated variable-pay and incentive-based plans to a greater number of employees. OrgPlus can make this transition easier for your organization.
OrgPlus can help your organization unify and analyze performance, salary and benefits information from multiple systems and make it easier for managers to make educated decisions on the right level of compensation for every employee. OrgPlus also delivers sophisticated analytical tools that make it easier to spot, analyze and correct deficiencies and inconsistencies in your organization’s compensation plans.
• Here are some of the many benefits OrgPlus offers:
• Maintain pay levels that attract and retain quality employees
• Compare your organization’s salaries, programs and benefits to those of the industry
• Promote salary parity for similar positions across the organization
• Implement performance-based variable compensation
• Adjust salaries to regional variations consistently
One of the most common deficiencies in the HR process of any large organization is periodic compensation adjustment. As the competitive landscape and the economy overall changes, compensation plans need to be reviewed to make sure that they are competitive and consistent. This is easier said than done. How do you compare industry salaries to the salaries that you pay?
How do you adjust these salaries for regional cost-of-living variations? How do you align your organization’s job roles to industry-standard job descriptions that make meaningful comparisons possible? Enter OrgPlus. OrgPlus integrates seamlessly with your data sources as well as external survey data to provide visibility into current compensation practices and highlight areas that need intervention. Rules can be customized to apply different calculations to positions or geographies that are exceptions to the general norm.
Sophisticated publishing and reporting options make it easy to create custom reports on the fly and share the information with others. Context-sensitive export to Excel makes it easier to model the data, or add additional information; you can also publish your reports and charts to Adobe PDF or PowerPoint.