QMR Labs\' Comp. Planner product optimizes salary structure in an organization, and allocation of budget at each employee level. It is a workflow-driven Intranet product, and comprises 5 modules: Salary Budget Estimation, Budget Allocation, Bonus Allocation, Stock Options Allocation, and Salary Distribution (Execution).
Manpower planning is important for companies to ensure they have the right staff with the right skills now and in the future. It involves 3 phases - developing manpower objectives based on company goals, managing resources to meet objectives through plans like recruitment and training, and ongoing evaluation and adjustment of plans. Proper manpower planning treats staff as an investment rather than just a cost, and integrates with the overall company plan. It requires analyzing current staffing levels, costs, attrition and recruitment trends to forecast future needs under different scenarios and accounting for factors like new technologies. Regular review and updating of forecasts and the plan is needed to control results against expectations.
Chinmaya Mishra is a Manager (Finance Planning & Controlling) at Sistema Shyam Telecommunications Ltd with over 7 years of experience in finance roles. He holds a B.com(Hons) and MBA(Finance, Marketing) and is seeking a new opportunity. His resume provides details of his educational qualifications and work experience across multiple companies in roles such as Assistant Manager, Deputy Manager, and Manager handling responsibilities like budgeting, forecasting, financial analysis and reporting.
This document provides a summary of Mufeed Kamil's professional experience and qualifications. He has over 11 years of experience in corporate finance roles. Currently, he works as the Finance Manager for Emerging Technologies in Abu Dhabi, where he prepares financial statements, models, and reports. Previously, he held Chief Accountant and Finance Manager roles for other companies in Dubai, where he oversaw accounting, budgeting, reporting, and more. Mufeed Kamil has an MBA and master's and bachelor's degrees in commerce.
Common-sense metrics about the learning curve for high-turnover, technical positions, particularly in IT, can yield shorter ramp-up time, more efficient staffing policies and decisions - and increased profitability. This paper presents the practical issues, the theory behind a low-cost solution, a straight-forward implementation plan, talking points to justify long-overdue change in staffing practices and true Human Capital accounting
Aligning your compensation philosophy with business prioritiesPayScale, Inc.
As an HR leader, you play a key role in your organization's success. It's crucial that you work with your company's executive leaders to develop a compensation strategy that supports company business objectives.
In this free, one hour webinar session, Stacey Carroll, SPHR, MBA will present the basics of leading an organization through the steps to align its compensation philosophy with its mission, and values. This webinar will give you a core understanding of the connection between business and compensation strategy.
The document discusses the challenges that companies face in managing their talent acquisition resources to meet fluctuating hiring demand. It argues that the traditional model leaves companies facing issues like increased costs, decreased quality, and stress on the talent acquisition team during peaks and valleys in demand. It proposes that using a recruitment process outsourcing (RPO) provider can help address these issues by allowing companies to scale up and down their recruiting resources more easily to match demand. An RPO provides a dedicated team to handle operations and allows the company to focus on strategy. This new model can improve key performance indicators, lower costs, and help companies avoid the "Groundhog Day" scenario of facing the same talent challenges repeatedly.
This profile summarizes an accounting and finance professional with over 16 years of experience leading financial activities for sizable companies. The professional has experience overseeing financial reporting, accounting, budgeting, forecasting, and ensuring integrity of financial information in accordance with IFRS. Core competencies include financial control, business analysis, cash flow forecasting, financial modeling, and policy development and implementation. Notable career accomplishments include preparation of financial forecasts and sensitivity analysis, implementation of financial reporting and an integrated financial system, and third party audits that identified cost savings.
The document is a resume for Syed Mahmood Hasnain, a senior finance professional with over 30 years of experience in financial management, consulting, and teaching. Some key details include:
- He holds an MBA and BBA from the Institute of Business Administration in Karachi.
- He has extensive experience in strategic planning, business development, cost management, and capital raising across various industries.
- His past roles include positions as a chief consultant, principal consultant, senior finance manager, and management trainee.
Manpower planning is important for companies to ensure they have the right staff with the right skills now and in the future. It involves 3 phases - developing manpower objectives based on company goals, managing resources to meet objectives through plans like recruitment and training, and ongoing evaluation and adjustment of plans. Proper manpower planning treats staff as an investment rather than just a cost, and integrates with the overall company plan. It requires analyzing current staffing levels, costs, attrition and recruitment trends to forecast future needs under different scenarios and accounting for factors like new technologies. Regular review and updating of forecasts and the plan is needed to control results against expectations.
Chinmaya Mishra is a Manager (Finance Planning & Controlling) at Sistema Shyam Telecommunications Ltd with over 7 years of experience in finance roles. He holds a B.com(Hons) and MBA(Finance, Marketing) and is seeking a new opportunity. His resume provides details of his educational qualifications and work experience across multiple companies in roles such as Assistant Manager, Deputy Manager, and Manager handling responsibilities like budgeting, forecasting, financial analysis and reporting.
This document provides a summary of Mufeed Kamil's professional experience and qualifications. He has over 11 years of experience in corporate finance roles. Currently, he works as the Finance Manager for Emerging Technologies in Abu Dhabi, where he prepares financial statements, models, and reports. Previously, he held Chief Accountant and Finance Manager roles for other companies in Dubai, where he oversaw accounting, budgeting, reporting, and more. Mufeed Kamil has an MBA and master's and bachelor's degrees in commerce.
Common-sense metrics about the learning curve for high-turnover, technical positions, particularly in IT, can yield shorter ramp-up time, more efficient staffing policies and decisions - and increased profitability. This paper presents the practical issues, the theory behind a low-cost solution, a straight-forward implementation plan, talking points to justify long-overdue change in staffing practices and true Human Capital accounting
Aligning your compensation philosophy with business prioritiesPayScale, Inc.
As an HR leader, you play a key role in your organization's success. It's crucial that you work with your company's executive leaders to develop a compensation strategy that supports company business objectives.
In this free, one hour webinar session, Stacey Carroll, SPHR, MBA will present the basics of leading an organization through the steps to align its compensation philosophy with its mission, and values. This webinar will give you a core understanding of the connection between business and compensation strategy.
The document discusses the challenges that companies face in managing their talent acquisition resources to meet fluctuating hiring demand. It argues that the traditional model leaves companies facing issues like increased costs, decreased quality, and stress on the talent acquisition team during peaks and valleys in demand. It proposes that using a recruitment process outsourcing (RPO) provider can help address these issues by allowing companies to scale up and down their recruiting resources more easily to match demand. An RPO provides a dedicated team to handle operations and allows the company to focus on strategy. This new model can improve key performance indicators, lower costs, and help companies avoid the "Groundhog Day" scenario of facing the same talent challenges repeatedly.
This profile summarizes an accounting and finance professional with over 16 years of experience leading financial activities for sizable companies. The professional has experience overseeing financial reporting, accounting, budgeting, forecasting, and ensuring integrity of financial information in accordance with IFRS. Core competencies include financial control, business analysis, cash flow forecasting, financial modeling, and policy development and implementation. Notable career accomplishments include preparation of financial forecasts and sensitivity analysis, implementation of financial reporting and an integrated financial system, and third party audits that identified cost savings.
The document is a resume for Syed Mahmood Hasnain, a senior finance professional with over 30 years of experience in financial management, consulting, and teaching. Some key details include:
- He holds an MBA and BBA from the Institute of Business Administration in Karachi.
- He has extensive experience in strategic planning, business development, cost management, and capital raising across various industries.
- His past roles include positions as a chief consultant, principal consultant, senior finance manager, and management trainee.
This document is a product roadmap template that outlines the key sections for describing a product roadmap, including an introduction, market and technology overview, the product roadmap itself spanning multiple years, and a section for supporting data. The introduction states that a product roadmap is a long-term plan for a product's evolution over time.
Ringkasan dokumen tersebut adalah sebagai berikut:
1) Dokumen tersebut membahas potensi dan aktivitas yang ada di Dayeuhluhur seperti curug, kuliner, budidaya ikan, dan kerja bakti warga.
2) Diberikannya motivasi untuk terus berinovasi dan berkolaborasi guna memajukan Dayeuhluhur.
3) Diberikannya informasi kontak untuk berkolaborasi dalam pengembangan Dayeuhluhur.
The document discusses strategies for developing a total compensation strategy at three levels - corporate, business unit, and functional. It provides guidelines for aligning compensation with business strategy and objectives. Key steps in formulating a compensation strategy include assessing implications, mapping the strategy, implementing it, and reassessing periodically. Three tests can determine if the pay strategy provides a competitive advantage: alignment with business goals, differentiation from competitors, and added value or return on investment.
The document provides 10 ways to identify if a product launch may be doomed to fail. It discusses issues like having no clear goals for the launch, basing the launch plan on a checklist rather than a strategy, unrealistic timelines, lack of sales training focused on customer problems rather than features, overproduction of unused collateral, no single accountable launch owner, decisions based on hunches rather than market evidence, mimicking competitors rather than customizing for your needs, and inadequate consideration of existing customers in the launch plan. The author provides actions companies can take to address each issue and improve the chances of launch success.
The document summarizes the 2009 Metro Football Championship tournament. It lists the team names that participated - Phoenix Knights, Keighley Massive, ET All Stars, Khanivores, Special Ones, and Return of the Incredibles. The final match was between Khanivores and ET All Stars, which ended in a 3-3 tie in regular time and went to a penalty shootout where ET All Stars scored on only one of five attempts, allowing Khanivores to win the championship.
The document summarizes the strategic role of product management. It argues that product management is needed to make companies market-driven by understanding customer needs and problems in order to build products people want to buy. It distinguishes product management from marketing, which it defines as creating customer-focused products rather than promotional activities. It also differentiates product management from sales by noting product managers focus on future products while sales focuses on current offerings.
The document provides tips and best practices for creating effective product roadmaps. It discusses different types of roadmaps, including market & strategy, visionary, technology, platform, and product roadmaps. It also outlines an eight step process for creating roadmaps, including prioritizing features, organizing features into themes or timed releases, and creating internal and external roadmaps. The document recommends collaborating with teams, using code names, and making internal roadmaps more specific than external ones.
The document outlines the key components of a pay model including compensation objectives, policies, and techniques. The objectives are efficiency, fairness, compliance, and ethics. Policies focus on internal alignment, external competitiveness, employee contributions, and management. Techniques tie the policies to the objectives and include variations to achieve the goals of attracting, retaining, and rewarding employees.
This document discusses Microsoft products and Bill Gates' daughter Jennifer Katharine Gates. It states that the best Microsoft product is not good and that Bill Gates' daughter Jennifer Katharine Gates is totally awesome.
The document discusses food quality changes during distribution from farm to fork. It focuses on quantifying color change and developing a mathematical model for color change over time of frozen beans stored at different temperatures. The methodology measures color, texture, and ascorbic acid content of raw and blanched beans stored at -10C, -5C and 4C. Results show all quality indices depend on storage time and temperature, with ascorbic acid potentially limiting quality at lower temperatures. A temperature survey of retail freezers showed variability requiring models to estimate quality during variable temperature distribution. Future work proposes determining important consumer traits, an ERP system to calculate shelf-life, and applying quality index methods used for fish to beans.
Sunita Williams captured photos of the Earth at night from the International Space Station, including shots of a sandstorm leaving North Africa, the Gibraltar Straits between Europe and Africa, the Swiss Alps, Iceland, the Black Sea, and the Red Sea. A satellite photo shows lights already on in cities in Europe like Paris and Barcelona but still daylight in others like London, Lisbon, and Madrid, with the Azores islands visible in the ocean. Another photo shows nightfall over Brazil, with lights visible from cities like Sao Paulo, Rio de Janeiro, Salvador, and others along the coast and inland. A final photo shows nighttime lights over the United States, with the brightest clusters around Boston, New
The document analyzes the market for processed food products in rural India. It finds that while awareness and consumption of certain branded products is high, factors like cost, physical accessibility, and local tastes limit popularity. Television emerges as the best medium to advertise in rural areas. For products to succeed in rural India, companies need local and geographically specific models, lower price points through smaller packages, and promotions tailored to each region's tastes and preferences.
The document describes the Product Roadmap Toolkit from 280 Group LLC. The toolkit provides templates and guidance for creating effective product roadmaps. It includes 43 slides on roadmapping best practices, 14 types of roadmaps, 75 quarterly and multi-year templates, and prioritization matrices. The toolkit also offers a 30-minute consultation. Examples of roadmap types include market & strategy, visionary, and internal/external product roadmaps for timed releases or theme-based planning.
QMR Labs develops business solutions using technologies like simulation and optimization. It offers a solution called Comp.Planner-Discoverie' to help clients optimize their compensation budgeting process. The tool uses compensation analytics and modeling to estimate factors like attrition and promotions to determine the optimal budget while balancing organizational resources. It provides extensive reporting, allows scenario building and benchmarking, and integrates with HR systems. The solution aims to simplify budgeting and allow HR managers to focus more on strategic activities.
HCC Industries transitioned from a stretch budgeting concept to a minimum performance standard (MPS) in 1986. Under stretch budgeting, division managers could earn bonuses for meeting 60% of budget targets. This led to consistent budget misses and lax performance. The MPS aimed to set budgets at a 100% probability of achievement but required exceeding normal capacity. However, managers were concerned about earning lower bonuses under the new system due to its vagueness. The report recommends quantifiably weighing performance goals to reduce subjectivity and increase transparency between corporate and employee incentives. This would help managers understand how to earn bonuses while meeting HCC's MPS goals.
Whitepaper: Forecasting, Budgeting and Accruing BonusesIconixx
This document discusses the importance of forecasting, budgeting, and accruing for bonuses as part of an incentive compensation plan. It notes that properly designing and managing bonus structures requires predicting future performance, revenues, and bonus payouts. It recommends using historical data and "what if" analysis to establish targets and assess plans. Finally, it emphasizes that automating these processes through an incentive compensation management system helps with strategic planning, accurate accounting, and ensuring bonuses are attainable and budgets are reliable.
This document provides an overview of a two-day training program on remuneration strategy and salary structuring. The training will cover topics such as introduction to rewards management, building a salary structure, variable pay schemes, and alternative remuneration structures. It includes an agenda with sections on strategic total rewards management, attracting and retaining top talent through rewards, and measuring the effectiveness of rewards programs. The goal is to help organizations design competitive and aligned remuneration packages.
This document discusses how to create an effective sales compensation plan that motivates employees in 3 key ways:
1. It should reward top performers appropriately while attracting and retaining top talent and encouraging poor performers to leave. This instills consistency in how salespeople are paid.
2. The plan should be easy to understand, administer, and align compensation with effort, productivity and results in order to increase sales and profits.
3. When developing the plan, companies should consider both internal equity between positions and external market rates to ensure compensation is fair. This includes conducting job analysis, evaluation and pricing.
This document is a product roadmap template that outlines the key sections for describing a product roadmap, including an introduction, market and technology overview, the product roadmap itself spanning multiple years, and a section for supporting data. The introduction states that a product roadmap is a long-term plan for a product's evolution over time.
Ringkasan dokumen tersebut adalah sebagai berikut:
1) Dokumen tersebut membahas potensi dan aktivitas yang ada di Dayeuhluhur seperti curug, kuliner, budidaya ikan, dan kerja bakti warga.
2) Diberikannya motivasi untuk terus berinovasi dan berkolaborasi guna memajukan Dayeuhluhur.
3) Diberikannya informasi kontak untuk berkolaborasi dalam pengembangan Dayeuhluhur.
The document discusses strategies for developing a total compensation strategy at three levels - corporate, business unit, and functional. It provides guidelines for aligning compensation with business strategy and objectives. Key steps in formulating a compensation strategy include assessing implications, mapping the strategy, implementing it, and reassessing periodically. Three tests can determine if the pay strategy provides a competitive advantage: alignment with business goals, differentiation from competitors, and added value or return on investment.
The document provides 10 ways to identify if a product launch may be doomed to fail. It discusses issues like having no clear goals for the launch, basing the launch plan on a checklist rather than a strategy, unrealistic timelines, lack of sales training focused on customer problems rather than features, overproduction of unused collateral, no single accountable launch owner, decisions based on hunches rather than market evidence, mimicking competitors rather than customizing for your needs, and inadequate consideration of existing customers in the launch plan. The author provides actions companies can take to address each issue and improve the chances of launch success.
The document summarizes the 2009 Metro Football Championship tournament. It lists the team names that participated - Phoenix Knights, Keighley Massive, ET All Stars, Khanivores, Special Ones, and Return of the Incredibles. The final match was between Khanivores and ET All Stars, which ended in a 3-3 tie in regular time and went to a penalty shootout where ET All Stars scored on only one of five attempts, allowing Khanivores to win the championship.
The document summarizes the strategic role of product management. It argues that product management is needed to make companies market-driven by understanding customer needs and problems in order to build products people want to buy. It distinguishes product management from marketing, which it defines as creating customer-focused products rather than promotional activities. It also differentiates product management from sales by noting product managers focus on future products while sales focuses on current offerings.
The document provides tips and best practices for creating effective product roadmaps. It discusses different types of roadmaps, including market & strategy, visionary, technology, platform, and product roadmaps. It also outlines an eight step process for creating roadmaps, including prioritizing features, organizing features into themes or timed releases, and creating internal and external roadmaps. The document recommends collaborating with teams, using code names, and making internal roadmaps more specific than external ones.
The document outlines the key components of a pay model including compensation objectives, policies, and techniques. The objectives are efficiency, fairness, compliance, and ethics. Policies focus on internal alignment, external competitiveness, employee contributions, and management. Techniques tie the policies to the objectives and include variations to achieve the goals of attracting, retaining, and rewarding employees.
This document discusses Microsoft products and Bill Gates' daughter Jennifer Katharine Gates. It states that the best Microsoft product is not good and that Bill Gates' daughter Jennifer Katharine Gates is totally awesome.
The document discusses food quality changes during distribution from farm to fork. It focuses on quantifying color change and developing a mathematical model for color change over time of frozen beans stored at different temperatures. The methodology measures color, texture, and ascorbic acid content of raw and blanched beans stored at -10C, -5C and 4C. Results show all quality indices depend on storage time and temperature, with ascorbic acid potentially limiting quality at lower temperatures. A temperature survey of retail freezers showed variability requiring models to estimate quality during variable temperature distribution. Future work proposes determining important consumer traits, an ERP system to calculate shelf-life, and applying quality index methods used for fish to beans.
Sunita Williams captured photos of the Earth at night from the International Space Station, including shots of a sandstorm leaving North Africa, the Gibraltar Straits between Europe and Africa, the Swiss Alps, Iceland, the Black Sea, and the Red Sea. A satellite photo shows lights already on in cities in Europe like Paris and Barcelona but still daylight in others like London, Lisbon, and Madrid, with the Azores islands visible in the ocean. Another photo shows nightfall over Brazil, with lights visible from cities like Sao Paulo, Rio de Janeiro, Salvador, and others along the coast and inland. A final photo shows nighttime lights over the United States, with the brightest clusters around Boston, New
The document analyzes the market for processed food products in rural India. It finds that while awareness and consumption of certain branded products is high, factors like cost, physical accessibility, and local tastes limit popularity. Television emerges as the best medium to advertise in rural areas. For products to succeed in rural India, companies need local and geographically specific models, lower price points through smaller packages, and promotions tailored to each region's tastes and preferences.
The document describes the Product Roadmap Toolkit from 280 Group LLC. The toolkit provides templates and guidance for creating effective product roadmaps. It includes 43 slides on roadmapping best practices, 14 types of roadmaps, 75 quarterly and multi-year templates, and prioritization matrices. The toolkit also offers a 30-minute consultation. Examples of roadmap types include market & strategy, visionary, and internal/external product roadmaps for timed releases or theme-based planning.
QMR Labs develops business solutions using technologies like simulation and optimization. It offers a solution called Comp.Planner-Discoverie' to help clients optimize their compensation budgeting process. The tool uses compensation analytics and modeling to estimate factors like attrition and promotions to determine the optimal budget while balancing organizational resources. It provides extensive reporting, allows scenario building and benchmarking, and integrates with HR systems. The solution aims to simplify budgeting and allow HR managers to focus more on strategic activities.
HCC Industries transitioned from a stretch budgeting concept to a minimum performance standard (MPS) in 1986. Under stretch budgeting, division managers could earn bonuses for meeting 60% of budget targets. This led to consistent budget misses and lax performance. The MPS aimed to set budgets at a 100% probability of achievement but required exceeding normal capacity. However, managers were concerned about earning lower bonuses under the new system due to its vagueness. The report recommends quantifiably weighing performance goals to reduce subjectivity and increase transparency between corporate and employee incentives. This would help managers understand how to earn bonuses while meeting HCC's MPS goals.
Whitepaper: Forecasting, Budgeting and Accruing BonusesIconixx
This document discusses the importance of forecasting, budgeting, and accruing for bonuses as part of an incentive compensation plan. It notes that properly designing and managing bonus structures requires predicting future performance, revenues, and bonus payouts. It recommends using historical data and "what if" analysis to establish targets and assess plans. Finally, it emphasizes that automating these processes through an incentive compensation management system helps with strategic planning, accurate accounting, and ensuring bonuses are attainable and budgets are reliable.
This document provides an overview of a two-day training program on remuneration strategy and salary structuring. The training will cover topics such as introduction to rewards management, building a salary structure, variable pay schemes, and alternative remuneration structures. It includes an agenda with sections on strategic total rewards management, attracting and retaining top talent through rewards, and measuring the effectiveness of rewards programs. The goal is to help organizations design competitive and aligned remuneration packages.
This document discusses how to create an effective sales compensation plan that motivates employees in 3 key ways:
1. It should reward top performers appropriately while attracting and retaining top talent and encouraging poor performers to leave. This instills consistency in how salespeople are paid.
2. The plan should be easy to understand, administer, and align compensation with effort, productivity and results in order to increase sales and profits.
3. When developing the plan, companies should consider both internal equity between positions and external market rates to ensure compensation is fair. This includes conducting job analysis, evaluation and pricing.
How to Build an Employee Benefits Package.pptxfarahat3
An employee benefits package is a set of perks and benefits offered to employees in addition to their salary. These benefits can include things like health insurance, retirement plans, paid time off, and professional development opportunities. Building an employee benefits package can help attract and retain top talent, as well as increase employee satisfaction and productivity. To build an employee benefits package, consider the needs and wants of your workforce, budget constraints, and industry standards. Then, choose benefits that align with your company's values and goals. Be sure to clearly communicate the details of the benefits package to your employees.
The document outlines a performance management system for an organization. It defines performance management and its objectives, which include maximizing employee productivity and improving organizational effectiveness. It describes the organization's philosophy of linking performance to vision, strategy, and culture. The design section explains the current compensation structure, the PMS process involving goal setting, reviews, and assessments, and the methodology of using a forced bell curve approach. It discusses the 3R's of review, recognition, and reward - including the review concept, timing, evaluation process, and payouts. Finally, it covers pre- and post-documentation and potential outcomes of the system.
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
help.mbaassignments@gmail.com
or
call us at : 08263069601
Are you interested in learning how much you could be saving by outsourcing some of your non-essential financial tasks? Use our interactive Finance & Accounting tool to get a headstart in F&A BPO.
Calculate how much you can save here: https://www.personiv.com/cost-savings-calculator/
The document summarizes an Electronic Compensation Management Toolkit (ECMT) that Co X is considering purchasing from Brightworks to help manage its employee compensation. The ECMT would help Co X attract and retain top talent, ensure internal pay equity, develop market-competitive compensation packages, and engage employees. It does this through job evaluation, market pay benchmarking, modeling the costs of pay adjustments, and producing customized reports. The ECMT license would last initially for one year and then be renewable, providing ongoing software updates, training, and support from Brightworks. Co X's acceptance of the proposal is requested to move forward with the ECMT purchase and implementation.
This document provides metrics for measuring various aspects of HR functions including strategic management, workforce planning and staffing, talent management, total rewards, employee relations, organizational effectiveness, risk management, and financial management. For each functional area, it lists specific metrics that can be used, provides formulas for calculating the metrics, and examples to illustrate their use. Some key metrics included are return on investment, time to start for new hires, turnover rates, cost of turnover, and ratios comparing HR expenses to revenue and operating expenses. The document emphasizes that metrics should be analyzed and lead to actions or decisions to be useful, and that the target audience and purpose of each metric should be considered.
Semi Standard Structured Report PowerPoint Presentation SlidesSlideTeam
It has PPT slides covering wide range of topics showcasing all the core areas of your business needs. This complete deck focuses on Semi Standard Structured Report PowerPoint Presentation Slides and consists of professionally designed templates with suitable graphics and appropriate content. This deck has total of twenty slides. Our designers have created customizable templates for your convenience. You can make the required changes in the templates like colour, text and font size. Other than this, content can be added or deleted from the slide as per the requirement. Get access to this professionally designed complete deck PPT presentation by clicking the download button below. https://bit.ly/3gfJIi5
R III Consultants offers professional consulting services in the area of rewards and recognition programs. They use both top-down and bottom-up approaches to design optimal reward structures. Their programs are tailored to each client's structure, culture, values, goals and other factors. R III believes rewards should drive short-term goals while recognition drives long-term loyalty. Their services include analyzing existing programs, designing new programs, and assisting with program transitions and outsourcing support needs. Well-designed programs from R III can increase productivity, save costs, improve alignment and loyalty. They provide a case study of overhauling a company's incentive structure which led to improved satisfaction scores and financial results.
Cash or short-term incentive plans (STIP) engage employees in the process of achieving business objectives, reward desired behaviors, and help execute the organization’s long-term strategy. Incentive plans, when properly aligned to business outcomes and rolled-out effectively, can be a powerful tool that enable organizations to “do more with less” and achieve a greater return on investment (ROI) in cash compensation programs.
This document provides an overview of why organizations prepare budgets. It discusses that budgets serve several key roles, including compelling planning, communicating plans, coordinating activities, allocating resources, authorizing spending, establishing responsibility accounting, controlling performance, evaluating performance, and motivating employees. The document distinguishes between forecasts, which predict what may happen, and budgets, which are quantified plans that organizations intend to achieve. It notes that for planning and control, budgets need to be quantified, though not necessarily in financial terms only.
The document discusses performance management systems (PMS), which provide a structured approach to communicate business strategy, establish performance expectations, facilitate management, and measure and motivate performance. A key part of PMS is setting employee performance expectations, maintaining ongoing performance dialogue, and conducting annual performance appraisals. PMS also includes procedures for addressing underperformance, encouraging development, training managers, and resolving disputes. The goals of PMS are to guide employee efforts, assess individuals, teams, and the organization, and inform decisions around promotions, pay, and training needs.
The document discusses compensation philosophies of IT companies in India. It explains that compensation philosophies establish a company's framework for paying and rewarding employees to attract, retain, and motivate them. Indian IT companies' philosophies support business goals and strategies. They aim to identify pay programs, attract talent, motivate performance, retain key employees, and ensure equal pay. Specifically, TCS, Infosys, and Wipro aim to provide market-based, performance-linked compensation to recruit and retain premium talent and exceed expectations. They utilize variable pay, stock plans, benefits, and annual reviews to achieve strategic goals and maintain competitiveness.
The document discusses labor management strategies for the 21st century. It outlines how labor is a major cost for many companies and labor management can help reduce costs through improved productivity and employee retention. Modern labor management involves setting engineered performance standards, measuring employee performance, and providing incentives like bonuses to motivate employees and reward high performance. Regular feedback is important and technology allows for near real-time tracking of performance. Case studies show how various companies achieved productivity gains and cost savings through implementing labor management programs.
This document discusses controlling as a management function that involves ensuring employee performance aligns with organizational standards through monitoring, comparing, and correcting actions. It describes controlling as both a corrective and foreseeing activity. The document outlines objectives to discuss the nature of controlling, link planning to controlling, and distinguish control methods and systems. It provides definitions for terms like standard and discusses the importance of management control for areas like working capital. The document also describes the typical control process of establishing standards, measuring performance, comparing to standards, and taking corrective action. It discusses accounting tools like the balance sheet, income statement, and cash flow statement that are used for organizational performance control and financial analysis. Finally, it covers quantitative and non-quantitative control
Similar to Compensation Planning & Optimization IT Product (20)
Compensation Planning & Optimization IT Product
1. QMR LABS
QMR’S COMP.PLANNER
Discover and Optimise your Compensation Budget Allocation for
Strategic Talent Management
Manage and retain Talent through strategic
Compensation Planning.
Discover the optimal Compensation Budget
for your upcoming annual Compensation Cy-
cle, while balancing the impact on organisa-
tion’s resources and optimally allocate your
Compensation Budget.
Reward your employees optimally for their an-
nual performance with Q M R ’s
Comp. Planner.
IMPROVING ON
IMPROVEMENTS
QMR LAB S PVT.LTD.
451, Central Facility Building,
APMC 2, Vashi
New Bombay - 400 709
Phone: +91-22-27882986
E-mail: contactus@qmr-labs.in
2. QMR’S COMP.PLANNER
PRODUCT DESCRIPTION
QMR’s Comp.Planner facilitates the HR Managers’ in estimating the most optimal Compensation Budget and optimally allocat-
ing the actual Compensation Budget to adequately reward employees for their performance and potential. HR Managers can thus
optimally spend the Compensation Budget as strategic tool for rewarding and retaining employees.
A. COMPENSATION BUDGET ESTIMATION
QMR’s Comp.Planner helps HR Mangers estimate the optimal Com-
pensation Budget for the upcoming annual Compensation Cycle by
varying over 10 parameters with respect to three key factors - Merit
Rating, Market Correction & Promotions.
B. SALARY PLANNING & ALLOCATION
QMR’s Comp.Planner helps HR Managers optimally allocate the an-
nual Compensation Budget towards annual salary increments and pro-
motions to employees on the basis of their Annual Performance assess-
ment & current compensation levels.
C. BONUS PLANNING & ALLOCATION
QMR’s Comp.Planner helps HR Managers optimize the allocation of
annual Bonus Budget to employees on the basis of Annual Performance
assessment and in line with organization’s Compensation strategies.
D. STOCK OPTIONS PLA NNING & ALLOCATION
QMR’s Comp.Planner helps HR Mangers optimally allocate stock options among key employees based on their seniority, per-
formance levels and talent potential, and thus use special incentives strategically to motivate and retain critical resources.
QMR’s Comp.Planner facilitates Optimal Estimation and Allocation of annual Compensation budget on the basis of::
Annual Performance Appraisal (Merit Rating)
Leadership Capabilities (Talent Potential)
Current compensation level with respect to industry benchmark (Market
Correction), &
Employees eligible for Promotion in the current Performance Appraisal
cycle (Promotions)
QMR’s Comp.Planner is intended to facilitate decision-making by Compensation
Planners by optimizing the Estimation and Allocation of Compensation Budget
across multiple parameters.
THE QMR ADVANTAGE: COMPENSATION ANALYTICS
QMR’s Comp.Planner is a 360o solution to your Compensation Budget Estimation
and Allocation Planning process, and comprises of two components:
QMR’s proprietary Compensation Analytics Framework, &
Compensation Budget Estimation & Allocation Planning Tool
QMR Labs’ proprietary Compensation Analytics framework optimises your Com-
pensation Budget Estimates by optimizing the employee data inputs along 3 key
factors by :
3. A T T R I T I O N M O D E L I N G QMR Labs’ proprietary framework predicts the expected Attrition level and the number of
New Joinees for a given Compensation Cycle, and therefore further optimizes the Compensation Budget Estimate.
P R O M O T I O N P R E D I C T I O N QMR Labs’ proprietary framework predicts the number of promotions at each level/
grade and further optimizes the annual Compensation Budget Estimate.
M A R K E T G R O W T H E S T I M A T I O N QMR Labs’ proprietary framework estimates the expected increase in market
compensation levels for the upcoming compensation cycle.
PRODUCT FEATURES
R O B U S T O P T I M I Z A T I O N QMR’s Comp.Planner helps HR Mangers estimate the most optimal Compensation
Budget at the beginning of the Compensation Cycle and allocate the actual Compensation Budget towards annual Salary &
Promotion increments & Incentive budgets (Bonus & Stock-options) in the most optimal manner with respect to employee
performance (Merit Rating) and current compensation levels (Market Correction), by varying over 10 different parameters.
E X T E N S I V E R E P O R T I N G & A N A L Y T I C S HR Managers can generate detailed reports to estimate the impact
of over 10 variable parameters, with respect to three key factors - Merit Rating, Market Correction & Promotions on Compen-
sation Budget Estimate & actual Compensation & Incentive (Bonus & Stock-options) Budget Allocation.
E A S E O F C O N F I G U R A T I O N HR Managers can configure over 10 variable parameters for three key factors - Merit
Rating, Market Correction & Promotions, as per their requirements to optimize the Compensation Budget Estimation and ac-
tual Compensation & Incentive (Bonus & Stock-options) Budget Allocation.
B E N C H M A R K I N G HR Managers can compare and benchmark current compensation levels with the best in industry, to
decide their own industry position, and estimate the optimal Compensation Budget and allocate the actual Compensation &
Incentive (Bonus & Stock-options) Budgets
in line with the organization’s desired posi-
tioning.
S C E N A R I O - B U I L D I N G HR Man-
agers can run numerous “What-if Analysis”
to estimate the optimal Compensation
Budget and allocate the actual Compensa-
tion & Incentive (Bonus & Stock-options)
Budgets under multiple scenarios, by vary-
ing up to 10 different parameters influenc-
ing the three key factors - Merit Rating,
Market Correction & Promotions. For e.g.
an HR Manager can estimate the Compen-
sation Budget if he wants to promote 5%
employees vs 10% employees.
II. TECHNOLOGY FEATURES
W O R K - F L O W M O D E L I N G QMR’s Comp.Planner models the work-flow for Compensation Budget Estimation and
actual Salary & Incentive (Bonus & Stock-options) Budget Allocation - Input Modeling & Upload, Scenario Building, Budget
Optimisation, Reporting & Analytics, and Output Visualization & Data Export.
U S E R - F R I E N D L Y I N T E R F A C E HR Managers can easily learn and use QMR’s Comp.Planner to generate multiple
reports by varying up to different 10 parameters influencing the three key factors - Merit Rating, Market Corrections & Pro-
motions.
I N T E R F A C E W I T H H R I S QMR’s Comp.Planner can be seamlessly integrated with the organization’s legacy appli-
cations through ODBC connectivity.
KEY BENEFITS:
I. PRODUCT BENEFITS
4. C O M P L E T E C O M P E N S A T I O N O P T I M I S A T I O N QMR’s Comp.Planner is a complete solution for estimation
of optimal Annual Compensation Budget and optimal allocation of Salary & Incentive (Bonus & Stock-options) Budgets with
respect to employee performance and current compensation levels.
S P E N D O P T I M I S A T I O N QMR’s Comp.Planner helps HR Managers optimally allocate the annual Compensation
and Incentive Budgets as per organizational policies, with respect to employee performance and their current compensation
levels inorder to minimize attrition levels among high performers and key talent. This in turn reduces/saves the additional cost
that would be incurred towards recruitment, training & induction of new employees, opportunity cost loss of sales due to attri-
tion, and advantage to competition. Thus the benefits from Optimisation of Compensation Budget – Estimation & Allocation
Planning far outweigh the product cost.
M O T I V A T I O N T O O L QMR’s Comp.Planner optimises the allocation of annual salary increments & incentives to em-
ployees on the basis of their annual performance levels and talent potential, thereby helping HR mangers use compensation as
a strategic tool to motivate and retain key employees.
V A L U E A D D E D B E N E F I T S QMR Labs’ Compensation Analytics framework optimises the input data through de-
tailed analysis of current and past compensation policies and other employee attributes, to further optimize the Compensation
Budget Estimates and allocation of actual Salary and Incentive (Bonus & Stock-options) Budgets.
V I S I B I L I T Y QMR’s Comp.Planner gives visibility to HR Managers on the contribution of three key factors to Compen-
sation Budget Estimate and actual Salary & Incentive (Bonus & Stock-options) Budget Allocation. The HR Managers can also
see the impact of Bonus Allocation under multiple scenarios, with respect to organizational policies & employee performance.
II. TECHNOLOGY BENEFITS
P R O C E S S A U T O M A T I O N QMR’s Comp.Planner automates the Compensation Budget Estimation and actual Salary
& Incentive (Bonus & Stock-options) Alloca-
tion processes, thereby standardizing and sim-
plifying the overall process flow, which in
turn reduces the process cycle time and re-
leases the HR Managers’ time for more strate-
gic activities.
RESOURCE INDEPENDENT
QMR’s Comp.Planner renders your Compen-
sation Budget Estimation & Salary & Incen-
tive (Bonus & Stock-options) Allocation proc-
esses resource independent, as QMR Labs
provides end-to-end solutions for optimal
Compensation Budget Estimation, actual Sal-
ary & Incentive (Bonus & Stock-options) Al-
location & Compensation Analytics & gives you the output - optimal Budget Estimate & Salary & Incentive (Bonus & Stock-
options) Allocation.
S C A L A B L E S O L U T I O N QMR’s Comp.Planner has a scalable architecture capable of meeting the organisation’s
growth needs in terms of people, business operations etc.
QMR LABS
QMR Labs is a young, upcoming organisation that develops innovative solutions across various sectors such as Supply Chain,
Manufacturing and Services. It is an Analytics & Decision Product-centric company that develops tailored business solutions
in Distribution & Logistics, Project Management, Discrete Manufacturing factories & Service industries, using leading-edge
technologies like Simulation and Optimization.
QMR Labs has till date successfully engaged with several leading clients in these areas. The company offers innovative solu-
tions across three broad business areas:
Decision & Collaboration (Web-enabled) Product Development,
Statistical Analytics &
Business Consulting.