Compensation teams have struggled for years trying to effectively manage collecting and analyzing employee data to support various Compensation programs.
These include programs such as:
- Pay and Merit
- Bonus and Incentives
- Equity
- Performance
Typically, the Comp team has two options to manage collecting info from their org to execute these programs:
1) Create individual spreadsheets, email them to colleagues responsible for giving input and then collating all the responses.2) Implement a costly HRIS application that attempts to automate and improve the manual spreadsheet processes with a single, integrated database solution.
This white paper explores a new option which addresses many of the Compensation data collection processes by merging the flexibility of a spreadsheet with the security and scalability typically found in HRIS applications.
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