4 best practices for automating complex compensation

TalentTakeawayswebinar & podcast series

4 Best Practices for Automating Complex Compensation Planning

AGENDAThe Series

Talent Takeaways | Automating Comp Planning


AGENDAThe Sponsor


AGENDA

Brian SharpChief Marketing Officer, HRsoft

S. Austin MuzumdarSenior Vice President Products & Services, HRsoft

Our Presenters


The Core of Compensation

Productivity

Retention

Innovation

Profitability


It started with a simple mission…

Get the most motivation out the allocated budget.

How Compensation Got Complicated

Pay Structures

Globalization

Regulation

Spreadsheets


The Comp Automation Approach

Streamlining: How to avoid workarounds by building the right automated workflow

Simplifying: How to use automation to delegate & provide decision support

Systems: Leverage automation to improve checks & balances, auditability & scalability

Strategy: Utilizing automated & integrated data to maximize compensation budgets


EVALUATE


Evaluating Your Comp Planning Process

What is the current documented process?List out the entire process

What are the most critical components?Challenge anything not working

What steps/processes could be trimmed?Zero based budget model

Goal: Automate a better, more strategic process.


STREAMLINE


Building the Right Workflow for Automation

Build a workflow that works for 90% of scenarios

Create a linear approval chain

Utilize reporting for planner accountability

Trust your managers & approvers


SIMPLIFY


Using Automation for Delegation & Decision Support

Identify tasks that can be delegated with technology What 3rd party integrations could be used?

Introduce performance based guidelines Easy to understand & execute

Use reporting for manager accountability Empower your managers but hold them accountable


SYSTEMS


Build the right reports planner status, budget adherence, etc.

Ensure all user actions are auditable Track all decisions, overrides, etc.

Build flexible processes Applies to strategy and technology.


Leverage automation to improve checks & balances, auditability, and scalability

STRATEGY


Utilizing Automated & Integrated Data to Maximize Compensation Budgets

Identify the strategic comp focus What part of the organization is most critical?

Leverage data from performance management Allocate budget in the right places.

Identify values for support & revenue driving roles Retain top performers throughout the organization


Talent Takeaways

StreamliningAutomate a better, strategic workflow

SimplifyingUse guidelines & 3rd party technology

Systems Build flexible, auditable processes

Strategy Identify org focus & system for valuing


AGENDAGetting Started

From This… To This


COMPview™High Impact Compensation Planning Software

HRsoft.comTalent Takeaways | Automating Comp Planning

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4 Best Practices for Automating Complex Compensation Planning

4 best practices for automating complex compensation

Recruiting & HR