The focus on managing the effectiveness and maximizing the value of a workforce is a critical performance management imperative of this decade. This, in turn, requires a focus on the fundamentals and management of compensation. Managing compensation is not an easy task, though. It involves a variety of job categories and goes far beyond just doling out merit pay. It must address the planning for and management of the many categories of variable compensation used in the modern organization to incentivize improved performance.
Human Resources is of course central to compensation management. But responsibility for compensation is shared by operations and finance management as well; both must be involved to ensure the organization realizes the full potential. Compensation has changed dramatically in recent years within different organizational areas like call centers, sales and field service organizations. The complexities of compensation make more difficult the core challenge faced by HR: keeping employees satisfied and motivated.
The 2011 benchmark research findings help understand and improve use of total compensation management in your organization including:
• What distinguishes organizations from being innovative or tactical.
• How organizations are addressing information adequacy issues that plague communication and planning.
• How to address the high level of importance for integration of data and systems in 45% of organizations.
• Where finance and operations play a strategic role for sponsoring, improving processes or gaining access to information.
Learn more about the technology vendors and products in the Ventana Research Value Index for Total Compensation Management. We can help your organization find the right technology for your specific requirements by using our research and industry experience.
For more information on how to benchmark your organization's maturity and competency in people, process, information and technology using our research or how to use the Value Index, please contact email@example.com.
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