03 Jun WHAT IS THE DIFFERENCE BETWEEN THE COMPENSATION SYSTEMS DISCUSSED IN ASSIGNMENT DESCRIPTION?
Explain in a comprehensive manner the specific tools the Compensation Manager is looking for. What is importance of these tools? Why is it important to automate these tasks? What is the difference between the Compensation Systems discussed in Assignment Description? Do you need to assist in the application of these tools by building various interfaces between your HRIS system and the outside party? For example, in order to automate Salary Surveying how to upload your company’s salary data with the automated salary surveying process of the Survey company.
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:
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.
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 a 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 and 3) a Salary Forecasting and Budgeting Tool to automate this other annual number crunching process.
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.
Research various tools available in the market and write a 7-page maximum 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.
Tagged on: Compensation Administration Tools
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