Plateau Compensation Planning enables complete planning and management of all types of compensation programs including salary, merit increases, market adjustments, lump sum payments and other discretionary pay components.
Key Features:
- Streamlines and Provides Total Control of the Compensation Planning Process - Reduces the number of planning cycles managers spend on compensation planning while improving accuracy and equity in compensation decisions. Changes are reflected immediately and can be viewed by colorful graphics or reports to assess compensation budgets versus actuals at any level.
- Flexible Configuration – Provides a flexible approval workflow that supports an unlimited number of approval levels. Configurable and automated alerts inform managers of their adherence to current policies. Manager worksheets, employee profiles and confirmation statements can be easily configured to fit your organization.
- Secure, Real-Time Access to Compensation Information - Ensures that real-time sensitive data is accessible only to managers with appropriate permission based on reporting hierarchy. An Executive Dashboard provides managers with a real-time graphical overview and includes drill down or roll up capability. Metrics tracked on the dashboard are configurable and the product’s on line help can include company policy information.
- Powerful Reporting Capabilities - Provides managers with the necessary information for creating competitive compensation plans and monitoring the business impact as they are administered. With end-user configurability, the product’s standard report templates provide flexibility to all user groups.
- Salary Planning and Market Data - Allows organizations to manage salary survey data and company data to determine market pricing for jobs. The tool supports the development of compelling compensation programs by providing managers with access to historical salary, bonus, stock option, performance ratings and titles then correlates this information with market data.
- Off-Cycle Awards - Plateau Compensation Planning allows managers the ability to record and schedule bonus awards that do not depend on the usual compensation cycle. In addition, some awards payments may be restricted to a time frame that the administrator defines by controlling the list of valid dates.
- Additional Built-in Simulation Functionality - Ensures accurate implementation of compensation programs with simulations of proposed compensation plans. Simulation results can be compared to budget plans and saved with specific configuration settings.
