Easily manage the compensation review process and allow it to balance with the target budget. Create budget allocations based on salary amounts and hierarchical structures.
Use performance ratings to drive compensation decisions and establish consistency across the organization. Performance assessment results are seamlessly integrated with the Compensation module.
Use a merit matrix to determine the recommended salary increase for each employee based on their performance rating and benchmarks – or create multiple merit matrices and run simulations on distributions.
Easily track statutory or contractually-mandatory increases; salary progression and lump sum adjustments; bonuses; long-term incentives such as stock options; and other cash incentives – and in multiple currencies.
Effortlessly divide budget allocations into various envelopes which can be delegated in total or in part by cascading to subsidiary managers. Managers can also decide to maintain some allocation in their envelopes for adjustments during the year (the reserve).