San Ramon, Calif.- August 2, 2011 – Newly completed benchmark research from Ventana Research shows organizations are paying more attention to managing the effectiveness of their workforce through total compensation management. The new research, which builds on the industry’s first benchmark in 2008, shows that companies have been steadily investing in total compensation management systems instead of the previously used piece-meal approach but the research also indicates there is still much room for improvement. The research examined best practices in compensation management, evaluated the level of maturity in deployments and investigated where organizations have room to make improvements in maximizing the workforce efficiency and outcomes.
The research shows that while improvements are being made, there are still a number of impediments in the compensation process. More organizations (72%) indicated that deploying a total compensation management system was a top priority. In 2008, 45 % of companies found scattered information and lack of integration a reason for investing in a total compensation management systems. In the 2011 research, that number was down to only a quarter (25%). While these statistics show fundamental change for the better,most respondents still felt that inconsistencies in execution across departments and divisions were a common problem. Issues with alignment of pay and performance topped second and third as areas for improvement. And, when asked about specific problematic areas, participants indicated managing merit pay and base pay were still at the forefront.
The full findings of this in-depth benchmark research on will be released by Ventana Research at their upcoming research webinar, the latest from the leading business technology research firm, analyzed hundreds of organizations around the world to assess the maturity and direction of their efforts. Ventana Research is well known for its research in human capital and compensation management. This new research explores how companies deal with total compensation now, how their employees view the current processes and tools, plans they have to change or improve them, and the benefits they hope to gain by doing so.
"This new benchmark research finds companies are ready to invest in total compensation management and become stewards of the most valuable asset – the people in the workforce," said Mark Smith, CEO and Chief Research Officer, Ventana Research. "The research will provide these organizations with key insights on how to make those investments move beyond just their HRMS and spreadsheet tracking but to an efficient process that ensure maximum value from their existing and future talent."
Ventana Research will detail the findings of this benchmark research in a live interactive webinar on August 18, 2011 at 11:00 AM Pacific time that will discuss the research findings and offer recommendations for improvement. Key research findings to be discussed will include:
- What distinguishes organizations from being innovative or tactical.
- How organizations are addressing information adequacy issues that surround communication and planning.
- How to address the high level of importance for integration of data and systems in organizations.
- Where finance and operations play a strategic role for sponsoring, improving processes or gaining access to information
- The current state, future direction of and potential investments
- Recommendations for organizations to act on immediately.
Register for the Webinar -www.ventanaresearch.com/TCMwebinar
Those interested in learning more about the benchmark research can find additional information at http://www.ventanaresearch.com/TCM/. The research was sponsored by SuccessFactors. As a part of your registration you will receive insights and education from Ventana Research on using technology effectively in business.
About Ventana Research
Ventana Research is the most authoritative and respected benchmark business technology research and advisory services firm. We provide insight and expert guidance on mainstream and disruptive technologies through a unique set of research-based offerings including benchmark research and technology evaluation assessments, education workshops and our research and advisory services, Ventana OnDemand. Our unparalleled understanding of the role of technology in optimizing business processes and performance and our best practices guidance are rooted in our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions in every industry. This benchmark research plus our market coverage and in-depth knowledge of hundreds of technology providers means we can deliver education and expertise to our clients to increase the value they derive from technology investments while reducing time, cost and risk.
Ventana Research provides the most comprehensive analyst and research coverage in the industry; business and IT professionals worldwide are members of our community and benefit from Ventana Research’s insights, as do highly regarded media and association partners around the globe. Our views and analyses are distributed daily through blogs and social media channels including Twitter, Facebook, LinkedIn and Business Week’s Business Exchange.
To learn how Ventana Research advances the maturity of organizations’ use of information and technology through benchmark research, education and advisory services, visit www.ventanaresearch.com.
Media: Copies of benchmark research report and interviews are available upon request.
Media Contact:
Mendeil Bailey
(925) 242-2412
marketing@ventanaresearch.com
