We are now in collections for the Next-Generation Compensation Management Benchmark. --- Compensation management is a key activity for supporting all workers and talent management processes. Determining and providing the appropriate compensation for each person, whether it involves base pay, merit pay or variable pay and incentives or bonuses, is critical to being able to attract and retain productive members of the workforce – full- or part-time employees, contingent workers and contractors alike. Incentive compensation tied to objectives often is critical in areas such as call centers, sales and field service. The complexities of compensation make more difficult the core challenge faced by human resources departments: keeping employees productive, satisfied and motivated.
For more than a decade Ventana Research has been the only analyst and market research firm assessing the business needs of buyers and users along with vendors and their products. Our examination incorporates the people, process, information and technology factors that underlie the effective use of software and impact purchase decisions. Our new program of Next-Generation Total Compensation Management research will examine the needs and opportunities in organizations of more than 100 employees and US$100 million in revenue. An examination of the need for process and management changes in compensation programs will be central to the research. We also will examine what the finance and operations functions need to be able to support total compensation management. Our previous research found that in one-quarter to one-third of organizations Finance plays a critical role in influencing compensation processes or has to use information from them.