- Compensation usually determines the talent attraction, retention, motivation, performance and tenure of employees in any organization. Therefore it must be well thought out and designed.
- At Adrenalin, our position management module helps tag a compensation template for each position that you define within your organization. The HR module will default all pay component defined based on the position occupied by the person in the organization. This configurable, intuitive process for base and variable pay helps to manage the compensation easily.
- As the person changes level, grades, jobs or designation the corresponding compensation values will automatically populate to guide your HR through the pay changes.
- Through this system, we help your HR to make organization wide changes to the compensation plan/values based on economic factors, company performance or for competitive measures periodically.
- There may also be need to comply to government regulations, contractual obligations or other HR compliances and these could be handled easily as well.
- All HR actions involving pay changes such as promotions, bonus, pay/merit increase, adjustment can be very effectively handled within a specified budget allocated against each department.
- Correlating business data with people data assists HR to ably support their management team with strategic decisions to forecast, plan, budget resources needed to fulfill business needs.
- Compensation letters (such as offer, appointment, and performance letters) can also pre-defined for each position, standardizing and simplifying the letter creation process.
- To establish equity both from internal and external perspective, Adrenalin's Compensation planning and administration system establishes the following:
- Job analysis (thoroughly analyze and describes each job within the organization)
- Job evaluation (Evaluating jobs on their worth and giving them a higher grade value)
- Job pricing (establish rate ranges; that is, minimum, midpoint, and maximum values for each level)
Adrenalin's compensation planning system will help achieve the following for your business:
Allocate funds to retain
top talent & avoid paying
& ensure equity