SALARY PLAN Book a DemoSalary Plan is an advanced compensation planning system, which facilitates the real time creation of detailed and accurate plans and forecasts for staffing expenditures, in a highly secure, collaborative environment.
Salary Plan is a better way to create accurate, collaborative plans and forecasts for staffing expenses. In most organizations, payroll costs are the largest expense, in at times exceeding 70% of the total budget, and yet creating accurate compensation plans and forecasts remains a challenge for many organizations. This is because payroll costs involve an intricate set of inter-relationships, where a change in one factor, for example, a negotiated rate increase, has a cascading impact throughout the plan.
“What-If” Scenario Management
is supported through an unlimited number of versions in combination with a global modeling tool; invaluable for processes such as union negotiations.
Advanced security is mandatory where employee data is involved. The security system ensures that each user can view and / or change only authorized information.
A graphical tool enables users to visually plan for anticipated events, such as promotions, compensation changes, changes to overtime hours
for specific employees and employee’s position-step movements.
Individual compensation and benefit amounts can be split among multiple departments, projects or cost centers
based on a percentage, FTE or number of hours.
HANDLES COMPLEX SCENARIOS
Various scenarios such as pooled positions, unfilled positions, and multiple grades/steps and compensation types within a position
A variety of dates impact the calculation of the plan, including employee hire and termination dates, in-year absences, pay period start and end dates, etc. …
FLEXIBLE DATA MODEL
A single data model allows easy definition of elements such as pay cycles, union groups, compensation types, etc.
The data model drives the calculation of the whole salary plan, and results are produced from both FTE and financial perspectives.