Compensation Productivity Tools

The “Right” Compensation Administration Productivity Tools

To be considered complete, all written assignments must include proper citations within the body of the paper when relevant, as well as a Reference section. Failure to cite outside sources is plagiarism and will be treated as such! You must also include a title page. Do not include pictures or graphics. All documents must be in Word format and placed in the Dropbox by the assignment deadline. Quoted material in this assignment should be <5%.

Consider yourself to be the Human Resource Systems Manager for a Global Corporation with about 15000 employees across various countries. Your company has 10000 of those 15000 employees in the U.S. You have been approached by the Corporate Compensation Manager asking your help to find specific Compensation Administration productivity tools for the US operations only.

The Compensation Department regularly must do some data intensive tasks such as:

1.     
Participating and analyzing specific salary surveys to compare your company’s compensation data with those of similar companies in similar or related industries. The compensation analysts must go through an annual exercise of benchmarking jobs and then inputting your company’s data into external salary surveying systems. After that the Compensation Analysts will engage in analyzing and comparing benchmarked survey data to internal data in the effort to update salary ranges for a Salary Ranges based Compensation System or do market pricing for a Market Based Compensation System.

Also, the compensation department must work with line HR managers and HR Reps. during the annual salary planning and budgeting process working in conjunction with the Finance Department.

A.   
Your job as the Human Resource Systems Manager is to search the web, do library research and find appropriate tools that can interface with your current HRIS system.

B.    
Your task is to research various tools available in the market and write a 5-page minimum paper summarizing for the Compensation Manager what appropriate standalone tools are available in the Market which the Compensation Manager might be able to adopt in their companies.

C.    
The Compensation Manager wants to automate these tasks which are now done by Compensation Analysts by hand. So, the Compensation manager wants your help in finding automated Compensation Administration Tools.

Tools such as :

1)         Salary Survey Analyzer to automate the entire Salary Surveying process,

2)         Salary Range Developer to automate the number crunching steps in updating Salary Ranges and Merit Matrices

3)         Salary Forecasting and Budgeting Tool to automate this other annual number crunching process.

The best way to go about writing this paper would be to find who the major Compensation Consulting companies are and then search their websites of what they offer by way of these tools.

Hint:

Radford Associates. https://radford.aon.com/

Ultimate software :      https://www.ultimatesoftware.com/

You will also find material here:

  

Compensation Productivity Tools

The “Right” Compensation Administration Productivity Tools

To be considered complete, all written assignments must include proper citations within the body of the paper when relevant, as well as a Reference section. Failure to cite outside sources is plagiarism and will be treated as such! You must also include a title page. Do not include pictures or graphics. All documents must be in Word format and placed in the Dropbox by the assignment deadline. Quoted material in this assignment should be <5%.

Consider yourself to be the Human Resource Systems Manager for a Global Corporation with about 15000 employees across various countries. Your company has 10000 of those 15000 employees in the U.S. You have been approached by the Corporate Compensation Manager asking your help to find specific Compensation Administration productivity tools for the US operations only.

The Compensation Department regularly must do some data intensive tasks such as:

1.     
Participating and analyzing specific salary surveys to compare your company’s compensation data with those of similar companies in similar or related industries. The compensation analysts must go through an annual exercise of benchmarking jobs and then inputting your company’s data into external salary surveying systems. After that the Compensation Analysts will engage in analyzing and comparing benchmarked survey data to internal data in the effort to update salary ranges for a Salary Ranges based Compensation System or do market pricing for a Market Based Compensation System.

Also, the compensation department must work with line HR managers and HR Reps. during the annual salary planning and budgeting process working in conjunction with the Finance Department.

A.   
Your job as the Human Resource Systems Manager is to search the web, do library research and find appropriate tools that can interface with your current HRIS system.

B.    
Your task is to research various tools available in the market and write a 5-page minimum paper summarizing for the Compensation Manager what appropriate standalone tools are available in the Market which the Compensation Manager might be able to adopt in their companies.

C.    
The Compensation Manager wants to automate these tasks which are now done by Compensation Analysts by hand. So, the Compensation manager wants your help in finding automated Compensation Administration Tools.

Tools such as :

1)         Salary Survey Analyzer to automate the entire Salary Surveying process,

2)         Salary Range Developer to automate the number crunching steps in updating Salary Ranges and Merit Matrices

3)         Salary Forecasting and Budgeting Tool to automate this other annual number crunching process.

The best way to go about writing this paper would be to find who the major Compensation Consulting companies are and then search their websites of what they offer by way of these tools.

Hint:

Radford Associates. https://radford.aon.com/

Ultimate software :      https://www.ultimatesoftware.com/

You will also find material here:

 
Automation Gives Variable Compensation a Boost (Links to an external site.) reviews a case study of a company that has automated its financial system (payroll) to link business objectives to performance and to pay. It reviews how other compensation dynamics can be automated for easier strategic planning, as well as employee pay .

  Online Benefits Offer Sound Advice (Links to an external site.) reviews how an online benefits program can significantly reduce HRM department expenses. It provides examples of reducing costs through employee self-service and employer management of benefits expenses.

  Use Software to Plan Compensation (Links to an external site.) reviews information on the usage of technology in companies to help in planning and tracking compensation plans. It reviews a survey of 500 HRM professionals who saw a difference in managing compensation through technology (3 pages).

  Employers Fancy HRM Technology (Links to an external site.) reviews the 21^st century workplace and how HRM must focus on technological upgrades and changes in order to remain competitive. It reviews how the industry is changing and how companies are falling in line.

  HRMS Flexibility Unlocks Secret to Success (Links to an external site.) provides review of how a company is using a combination of HRIS vendor software and outsourcing to gain full advantage of technology for benefits administration.

Automation Gives Variable Compensation a Boost (Links to an external site.) reviews a case study of a company that has automated its financial system (payroll) to link business objectives to performance and to pay. It reviews how other compensation dynamics can be automated for easier strategic planning, as well as employee pay .

  Online Benefits Offer Sound Advice (Links to an external site.) reviews how an online benefits program can significantly reduce HRM department expenses. It provides examples of reducing costs through employee self-service and employer management of benefits expenses.

  Use Software to Plan Compensation (Links to an external site.) reviews information on the usage of technology in companies to help in planning and tracking compensation plans. It reviews a survey of 500 HRM professionals who saw a difference in managing compensation through technology (3 pages).

  Employers Fancy HRM Technology (Links to an external site.) reviews the 21^st century workplace and how HRM must focus on technological upgrades and changes in order to remain competitive. It reviews how the industry is changing and how companies are falling in line.

  HRMS Flexibility Unlocks Secret to Success (Links to an external site.) provides review of how a company is using a combination of HRIS vendor software and outsourcing to gain full advantage of technology for benefits administration.

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