Did you know that you can expect to save approximately 57% per transaction to process a salary change by moving from a manual process to a technology-enabled one? And that’s just the tip of the iceberg.
Compensation management systems automate and manage the planning, modeling, budgeting, analysis, and execution of enterprise-wide compensation plans. Organizations like yours that have invested in these systems cite a number of significant benefits including:
- Simpler compensation policy planning and administration
- Ability to flexibly define a single company plan or multiple plans across individuals, groups, divisions, and geographies
- Enable pay-for-performance to retain key employees by rewarding them commensurate with their efforts
- Quickly and easily access detailed job and compensation data, including third-party salary survey data
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