What's Going On at the WorldatWork Total Rewards 2015 Conference & Exhibition?
As per tradition, we've been taking note of some of the common questions we're getting at our table at the WorldatWork Total Rewards 2015 Conference & Exhibition in order to share with you some of the hot topics at the show. So, without further ado...
1. Can your solution support "pay for performance"?
Our compensation solution is very configurable, and it is designed to suit various pay philosophies. For pay for performance, the solution will adapt the "performance vs recommendation/increase" matrix and allow rules to be created. In addition to pay for performance, our solution can also support pay for positions, pay for people and any combination your company may use.
2. How is the employee bonus calculation fitting in your solution?
The compensation solution’s configurable business rules will capture all the required bonus plan metrics. These may include: Bonus target % value (of an employee’s salary) allocated as bonus target for the performance year;
- Bonus target value (including threshold, stretch and maximum targets);
- Performance measure target, weighting and outcome values;
- Total bonus payout;
- Total bonus payout as a % of overall target;
- Salary used for bonus calculation.
Furthermore, our compensation solution will capture all required pro-ration calculations and split bonus management.
3. Our company participates in a market compensation survey every year. Can your system support compensation survey results analysis?
Our compensation solution supports market data analysis; we adapt the market data in our solution and provide compa-ratio analysis. After managers review the compa-ratio, if there are any compensation increases are made, our solution will display the new compa-ratio based on the new recommendations from the managers. All the changes are tracked inside the solution, and all the data can be generated as report.
To learn more about our Compensation Management solution, attend our webinar on The Road to Comprehensive Compensation.
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