Compensation and Benefits
In many business enterprises, employees compensation and benefits is one of the major items in the annual budget. Oftentimes, this allocation and the various employee compensation and benefit programs are expensive organizational strategies but they serve as excellent beacons of the best of the crop from high performing talents to the top of the class newly graduates. Since compensation and benefits comprise a bigger chunk of the pie, executives and directors cram for systems that would manage this budget effectively, and give the stakeholders the best returns of investment.
- October 07, 2021
- 5 minutes
Compensation and Benefits Module helps management achieve this goal, and much more. Compensation and Benefits allows organization to customize its benefit programs to serve specific needs and preferences of employees’ demographics. With this module, benefit programs such as training, travels abroad, club memberships, and exclusive access to company properties for leisure and recreations, can easily be monetized and controlled. Management can track employee usage and costs of benefits on year-to-date basis, monitor movement of the annual budget and generate reports based on real time data. Compensation and Benefits module, when integrated with Performance Appraisal module, will facilitate the determination of ROI in employee performance and productivity. Appropriate calibration can then be made to adjust the desired results.
Features and Benefits
- Management of Company Policies and CRR
- Employee Portal
- On Boarding of New Hires
- Management of Infractions and Offenses
- Monitoring of Disciplinary Actions
- Management of Complaints and Disputes
- Monitoring of Due Process
- Workflow on Filing and Approval of Requests
- Facility for Filing of Suggestions and Recommendations
- Management of Company Events and Activities