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866-953-8800INFO@HRSOFT.COMHRSoft’s COMPview eliminates manual processes saving
time and resources. Automation can eliminate costly calculation errors saving up
to 33% of your budgeted spend. Key takeawayThe role of the HR leader has
advanced rapidly in the past year. As a result, an HR professional has to wear
many hats, juggling responsibilities such as keeping employees engaged, managing
budgets, and coming up with strategies that align and can further the company’s
business goals. While the role of the HR leader has evolved, unfortunately, the
technology hasn’t caught up with it. In today’s demanding landscape, digital
transformation isn’t just luxury, it’s a necessity. HOW COMPENSATION MANAGEMENT
TECHNOLOGY CAN SOLVE HR’S ISSUESWHAT COMPENSATION MANAGEMENT TECHNOLOGY ENABLES3
HR PROBLEMS COMPENSATION MANAGEMENT TECHNOLOGY CAN SOLVETop-performing companies
are digitally transforming compensation to gain a competitive edge. Digitally
transforming compensation highlights an untapped opportunity for organizations
to achieve two goals that seem mutually exclusive: saving costs while improving
the employee experience. Strategic compensation management enables HR to:Improve
control over budgets with advanced reporting and analyticsAttract, retain and
develop top talent to drive the organization’s business goalsApply effective
compensation management policies to meet complex configuration needs andan
increasingly global environment Despite significant investments in HRIS and
payroll software, many HR departments still rely on spreadsheets and manual
processes for compensation planning. In addition to wasting precious time and
resources, it also keeps HR professionals bogged down with low-value tasks such
as data entry. Crucially, relying on spreadsheets to plan compensation cycles
results in a decision-making blind spot resulting in errors, that hinder the
same rationale for merit awards to be applied to other high-performing
employees.Eliminates spreadsheetsThe cost of using spreadsheets for compensation
management in a 5,500-person companyadds up to $1.2 million a year111 HRsoft.
The Soft Costs of Managing Compensation on Spreadsheets.| HRSOFT.COM


WHAT TO LOOK FOR IN A COMPENSATION MANAGEMENT SOLUTIONREADY TO TAKE YOUR
COMPENSATION MANAGEMENT TO THE NEXT LEVEL?Ease ofimplementationAgilityEnd-user
experienceIntegrationFlexibilityAutomationAdvanced reporting and
analyticsCOMPview866-953-8800INFO@HRSOFT.COM3The simple truth is that
traditional HR systems were not designed to handle all the processes and data
that today’s enterprises demand. Too often, organizations treat compensation as
a separate function that does not require a unique solution — only to be
disappointed that existing software cannot handle strategic compensation
management effectively and efficiently.Without an effective compensation
management solution, compensation planning and implementation can be a long and
stressful process — in some organizations running up to four months from the
time the process starts to the time the final awards are paid out. Traditional
HRIS are not made to handle complex plans and data that are required of today’s
organizations. With data residing in spreadsheets and documents, leaders lose
actionable and useful insights that are gained from having complete visibility
over the compensation process. Compensation management is treated as a separate
entity that is not linked with wider strategic plans, even though it represents
one of the largest expenses. Full visibility over the overall compensation
planning process allows HR to optimize compensation spending, allowing
compliance to budgets, full audit capability, and targeted awards to your most
valued employees. See COMPview in action and learn more about how you can
digitally transform and streamline your compensation process.Addresses gaps in
traditional HR systemsUnlocks cost-reduction opportunities74 percent of
organizations use four or more systems in addition to a core HRIS22HRSoft’s
COMPview is flexible to adapt to disruptions and reduces the time it takes to
plan, manage, and complete a compensation cycle by upwards of 40 percent.
HRSoft’s COMPview provides visibility and real-time reporting, creating new
opportunities for savings. Key takeawayKey takeaway• Reduce compensation cycle
times by 40%• Eliminate costly calculation errors saving up to 33% of your
budget spend • Realize up to 3% savings on annual compensation spend and
experience immediate ROITM2 HR.com. Digitizing employee files: 6 reasons why you
should.| HRSOFT.COMTry COMPView for Free



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