Compensation Award Administration Features and Functions
Execute compensation plan awards to the employee level
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- Complete record of individual employee compensation elements and awards
- Off-cycle compensation adjustments
- Dating of compensation awards
- Calculate individual compensation award
- Compensation award may be adjusted at a manager's discretion
- Organizational hierarchies may be established to match a manager approval process
- Modify hierarchical structure to support planning and approvals different from payroll or HRMS hierarchical structures
- Manage multiple hierarchies
- Workflow features to assign budget and approvals
- Set workflow approvals
- Alerts and reminders
- Alerts managers when compensation recommendations are outside of established guidelines
- E-mail notification
- Manager self-service via web access
- Compensation analysts may access multiple groups, teams, or organizations
- HR personnel may access multiple groups, teams, or organizations
- Generates reports on the costs of rewards and incentives
- Manages and updates history of individual employee rewards
- Eligibility logic connects rewards and services to jobs, grades, organizations, and seniority
- Compensation benefits automatically change based on reward rules
- Tracks and analyzes compensation and salary, by employee
- Compensation and benefit data is exported to a spreadsheet where it is compared against outside and industry standard rates
- Manages merit and bonus pools
- Provides multi-level compensation review and approval
- Sets, calculates, allocates, and tracks merit, bonus, and stock-based awards
- Calculations in multiple currencies
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Compensation Management Features and Functions
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