Transcript of "TimeTrax eCompensation - Singapore - HRIS"
eCompensation Compensation, Benefits and Rewards Management System A product by EFROTECH SERVICES
Overview eCompensation greatly simplifies and automates the entire compensation management process. It provides all levels of management with secure, easy to use tools that manage compensation budget flow down and makes distributing merit-based compensation including base salary, variable pay, bonuses, and Shares. Accurate and Fair Adjustments – built-in checks and balances reduce errors and help ensure more accurate and fair incentives and compensation adjustments. Done on time – User friendly interface makes it possible to complete tasks on time. Plus it is available 24/7 through a Web browser. More Secure – Access to sensitive compensation information is strictly controlled. Eliminate the potential for lost or outdated paper spreadsheets. Integration – Integrated with Payroll system to get more accurate salary information.
Overview Provides Guidance – suggests adjustments and payouts based on Performance Development ratings. Updates payroll – Generate Report to feed in data in to payroll Workflow – Complete work flow of compensation process with the different view for compensation Administrator and Managers Improve accountability – Managers must approve/submit a total summary of compensation adjustments under their responsibility
Key Features Simple to use The customized interface based on the principles of user-centered design makes departmental budget distribution and compensation adjustments simple. Convenient budget distribution Administrators can allocate the percentage increase across all departments and allow line managers to make adjustments within these allocations. The system will update employee records with new compensation packages and track histories. Convenient access to essential data Detailed information on each of your employees — including, Quartile, Range Penetration, past appraisals, and guidelines for pay adjustments are all available in a single view.
Key Features Simple and flexible setup Compensation Administrators can upload different data from MS Excel to setup compensation process. Administrators can upload Historic Employee Master Data, Fixed and Variable Salary data, PD Rating data, Market/Hay Group Salary Matrix, Mapping of Hay Group Allowances, Job Families, and Levels etc. Instant, intuitive reporting for managers Compensation managers and line managers have instant access to several report types. A summary of the budget distribution is always in plain view and status reports, indicating where their group stands in the process. Plus, compensation summaries are generated for each employee and their histories tracked for handy reference.