This ppt will help you to understand about various HR challenges in current business environment & give you a brief insight to increase your conceptual idea in HR field.
Performance-linked compensation (PLC) is a form of payment from an employer to an employee, which is directly related to the performance output of an employee and which may be specified in an employment contract.
This ppt will help you to understand about various HR challenges in current business environment & give you a brief insight to increase your conceptual idea in HR field.
Performance-linked compensation (PLC) is a form of payment from an employer to an employee, which is directly related to the performance output of an employee and which may be specified in an employment contract.
Voluntary Retirement Scheme, Benefits, Adavantage to employer & employee, Drawbacks, Technicalities, Case Study SAIL, SBI, Nokia, Effective Implementation of VRS.
New Trends in Compensation Management (Group Mediclaim/Insurance Scheme, Personal Accident Insurance Scheme, Company Leased Accommodation,
Recreation/ATM facilities, Corporate Credit Card,
Club memberships, Cellular Phone/Laptop,
Personal Health Care, Loans, Educational Benefits, Regular Get together and other cultural programs, Wedding Day/Birthday Gift, Employee Referral Scheme, Maternity Leave, Paternity Leave, Work-life Balance, Pay Transparency, Broad banding,Variable Pay (Incentive Pay),
Flexible Benefits
This PPT contains about wage differentials or compensating differentials. it is an HR concept. it has meaning, reason, factors, types, and determinants of inter and intra industry wage differential.
E-Training is an up-coming concept. This presentation talks about the significance of E-Training. The chapter classifies the E-Training programs and acknowledges the advantages and disadvantages of E-training. The meaning of blended training and its relationship with C-Training is also discussed in this slideshow prepared by Welingkar’s Distance Learning Division.
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Voluntary Retirement Scheme, Benefits, Adavantage to employer & employee, Drawbacks, Technicalities, Case Study SAIL, SBI, Nokia, Effective Implementation of VRS.
New Trends in Compensation Management (Group Mediclaim/Insurance Scheme, Personal Accident Insurance Scheme, Company Leased Accommodation,
Recreation/ATM facilities, Corporate Credit Card,
Club memberships, Cellular Phone/Laptop,
Personal Health Care, Loans, Educational Benefits, Regular Get together and other cultural programs, Wedding Day/Birthday Gift, Employee Referral Scheme, Maternity Leave, Paternity Leave, Work-life Balance, Pay Transparency, Broad banding,Variable Pay (Incentive Pay),
Flexible Benefits
This PPT contains about wage differentials or compensating differentials. it is an HR concept. it has meaning, reason, factors, types, and determinants of inter and intra industry wage differential.
E-Training is an up-coming concept. This presentation talks about the significance of E-Training. The chapter classifies the E-Training programs and acknowledges the advantages and disadvantages of E-training. The meaning of blended training and its relationship with C-Training is also discussed in this slideshow prepared by Welingkar’s Distance Learning Division.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/SlideShareEffectHR
Join us on Facebook: http://www.facebook.com/welearnindia
Follow us on Twitter: https://twitter.com/WeLearnIndia
Read our latest blog at: http://welearnindia.wordpress.com
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Implementing A Holistic Approach To E-Learning Accessibilitylisbk
Slides for a peer-reviewed paper on "Implementing A Holistic Approach To E-Learning Accessibility"presented by Brian Kelly, UKOLN at the ALT-C 2005 conference in June 2005.
See http://www.ukoln.ac.uk/web-focus/events/conferences/alt-c-2005/
1
E-compensation
Cecelia Braima
Cleveland State University
MGT 640
Professor Dre. Wynn
Due Date
Introduction
Compensation refers to the payment offered to personnel as a form of exchange for their assistance (Newman & Gerhart, 2020). Direct pay (salaries and wages) and indirect pay (benefits packages) can be included. The history, future, and some of the benefits of the E-compensation system will be discussed in this article.
E-compensation systems are the software developed and used by firms. They are easily user-friendly by the employees through the internet from any location as far as ones connected to the internet. A formalized compensation handling program is the primary monitoring tool for ensuring that all company employees are served to satisfaction. In addition, there is the appropriate upholding of internal and external equity and proper control over the compensation expenses. A company with such a program will possibly attract the best talents, retain productive workers, and guarantee longevity while improving efficacy in using financial resources.
E-compensation is a digital tool that allows executives to more effectively develop, manage (Greene & Bryant, 2021), and communicate remuneration packages. E compensation is distinct from previous compensation solutions in that it is based on the internet rather than a client-server or stand-alone processor.
An applicable compensation handling program needs proper job analysis, assessment, and pricing (Jianping et al., 2022).). It's also critical to maintain and upgrade the program's features, such as wage banding, employee categorization, salary increment, performance appraisals, and longevity raises once it's been deployed.
Compensation has an impact on employee morale and job satisfaction. Thus, there are a variety of E compensation options. These include base pay, which is the initial payment made to an employee and does not contain any benefits, incentives, or raises. It could be on a daily, weekly, or monthly basis.
Commissions, which are payments made to an employee based on a sale, are typically paid to supplement the base income (Taha, 2021). Overtime compensates for additional work completed. Bonuses are monetary rewards given to employees and their regular pay. Stock options are a type of compensation in which companies provide employees the option to buy a certain number of shares of the company's stock at a discounted price. Finally, allowances are funds supplied for a specific necessity, such as food or housing (Quintner & Galbraith, 2022).
History of E-compensation.
Since the 1990s, most American companies' workforce relationships have changed from long-lasting. The institution provides career supervisors (Dulebohn et al., 2007) and workers managing their vocations as they transition between numerous companies. Flatter institutions provide a managerial instrument for enticing, preserving, and inspiring the talent required to remain competitive.
Companies ...
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Introduction on Workday Payroll Management System and Software SolutionsERP Cloud Training
Workday Payroll training Management system helps any organization to calculate the wages & compensation of any employee in a detailed & organized manner. We all know that Workday plays a vital role in each organization. Even small organizations began to deal with things with Workday. Workday is becoming increasingly popular daily.
Paylite is top choice for HR Management System and Appraisal Management Payro...Indranil Chanda
Citytech Software Private Limited has developed Paylite Software, specifically for the MENA member countries. Built with the latest Microsoft technologies, it can provide a rule-based and robust interface to manage all HR functions of an organization while eliminating all paper-based, time-taking and error-prone HR works. It's very popular and the top-most choice as HRMS across the MENA region.
10 Crucial Components of Online Payroll Management Systems!PayEaze
Online Employee Payroll Management Software refers to digital platforms that automate and streamline the process of managing employee payroll within organizations. These software solutions encompass various features, including employee information management, payroll processing, tax compliance, benefits administration, time and attendance tracking, direct deposit facilitation, reporting and analytics, compliance management, security, and integration capabilities. By centralizing payroll-related tasks and calculations, these systems help organizations ensure accuracy, efficiency, and compliance with legal and regulatory requirements while enhancing employee satisfaction through timely and transparent payment processes.
ReferenceGueutal H., & Stone, D. (2005). The brave new world of.docxdebishakespeare
Reference:
Gueutal H., & Stone, D. (2005). The brave new world of eHR: Human resources management in the digital age. San Francisco: Jossey-Bass.
CHAPTER 6
e-Compensation
The Potential to Transform Practice?
James H. Dulebohn
Janet H. Marler
In most U.S. organizations since the 1990s, the employment relationship has shifted from being lifelong with career management provided by the organization into being more short-term with employees having to manage their careers as they move between multiple organizations with flatter organizational structures. As a consequence, the role of compensation has become an important management tool for attracting, retaining, and motivating the talent needed to be competitive. In this chapter we discuss how e-compensation tools have the potential to transform the administration of existing compensation plans to better adapt to the dynamic demands of this evolving competitive landscape.
In the past, firms primarily hired employees at the lowest organizational levels, placed workers on career tracks, trained them for higher-level jobs, and promoted from within. The focus at that time for most jobs was on internal equity of compensation and less on external competitiveness. Today, however, organizations hire at all levels. Consequently, they must pay more attention to external market rates of compensation, thus increasing the demand for market salary data as well as tools to access, analyze, and communicate this data to hiring managers and to employees.
Through e-compensation tools organizations can adapt to shifting demands for information. e-Compensation tools enhance the practice of designing and administering compensation programs in a dynamic and competitive environment in three key ways. First, e-compensation tools can increase access to critical compensation information without the need for sophisticated or dedicated IT staffs and sophisticated technology infrastructures. They can simply access key information electronically on an as-needed basis. Second, e-compensation tools enable round-the-clock availability of meaningful compensation information to senior managers, HR managers, and employees. Third, e-compensation tools can streamline cumbersome bureaucratic tasks through the introduction of workflow functionality and real-time information processing.
Human Resource Information Systems and e-Compensation
e-Compensation represents a web-enabled approach to an array of compensation tools that enable an organization to gather, store, manipulate, analyze, utilize, and distribute compensation data and information. The term e-compensation connotes web-based software tools that enable managers to effectively design, administer, and communicate compensation programs. What distinguishes e-compensation from previous compensation software is that e-compensation is web-based, rather than client-server based or stand-alone PC-based. Using an Internet browser, the Internet and the World Wide Web, individuals ac ...
HumanPlus is a human capital management software (web & mobile application) localised for MENA regulations & rules, ideally providing Employee management, appraisal, talent acquisition, leave management, Announcements, Analytics and Logs. It enables the administrators to configure the standards used in the organization such as currency codes, Grades, ethnic codes, etc. This application also meets the employee's everyday needs like leave management, service requests, loans etc. It tracks existing employee data which includes personal history, skills, capabilities and accomplishments.
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Whitepaper: Using Technology to Manage and Optimize Incentive CompensationIconixx
In today’s complex business environment, companies increasingly struggle to manage their plans across hundreds or thousands of product lines, customers, territories and employees. Consequently, companies from all industries are using Incentive Compensation Management (ICM) technology to manage and optimize their compensation plans.
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Whitepaper: The Importance Of Automating Merit CompensationIconixx
Merit Compensation only works when everyone understands and internalizes the plan. How do you keep everyone informed and everyone pointed in the right direction?
You communicate effectively, ensure everyone has access to the Merit Compensation process, and leverage the automated workflow to keep people informed, engaged and focused on the company’s overall goals.
What are the integration capabilities does payroll software have.docxHR365 India
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LinesPay is a high configurable HR & payroll management system to make better strategic business policies and provide the finest control over employees and payroll management. Its inherent work-flow processing that will help organizations to move in a dynamic and intelligent way. LinesPay is fully customized and upgraded easily to meet the needs of organizations of any dimension.
We all have good and bad thoughts from time to time and situation to situation. We are bombarded daily with spiraling thoughts(both negative and positive) creating all-consuming feel , making us difficult to manage with associated suffering. Good thoughts are like our Mob Signal (Positive thought) amidst noise(negative thought) in the atmosphere. Negative thoughts like noise outweigh positive thoughts. These thoughts often create unwanted confusion, trouble, stress and frustration in our mind as well as chaos in our physical world. Negative thoughts are also known as “distorted thinking”.
Model Attribute Check Company Auto PropertyCeline George
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Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
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Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
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2. What is E-compensation?
Compensation is the total reward received by an employee in
exchange for services performed for an organization. It can
include both direct pay (salary and wages) and indirect pay
(benefits programme).
The e-Compensation systems are those software packages
which are bought or developed by companies and are
accessible through the company’s intranet or over the internet
which all the employees would be able to reach it through
browsers from anywhere (in case of internet).
3. Cont…
A formal compensation administration program is the basic
management tool for ensuring that employees are satisfied,
that both internal and external equity are maintained, and
that control is maintained over compensation costs. Such a
program will help attract top talent, retain core employees,
and encourage longevity while efficiently using financial
resources.
Establishing an effective compensation administration
program requires job analysis, job evaluation, and job pricing.
Once established, it is important to maintain and update the
following aspects of the program: salary banding, employee
classification, salary increases, performance appraisals, and
longevity increases.
4. How it was started?
During 1980s and early 1990s spreadsheets had been used to
manage compensation information of the employees (for each
manager one spreadsheet including its subordinates data)
which had been static (changes in data as bottleneck), and
time-consuming -months of efforts (Wright, 2003).
In 1990s client-server applications replaced. These
applications were customizely and expensively developed
based on company’s requirement and were needed to be
installed on each manager’s computer separately which all
these made it difficult to adopt with varying conditions of the
market easily.
5. Cont…
Late 1990s was an outset for a developmental migration to the
browsers instead of client-server applications by introducing
intranets which provided a centrally distributed application
with an ability to be updated readily without any dependency
on the manager’s computer (Wright, 2003).
In 2000 Barber and Bretz found the pay is an important factor
in both job choice and turnover decisions by employees and
from that time salary has been used as a lever to attract, retain
and motivate employees.
6. Types of E-compensation
Morale and job satisfaction are affected by compensation.
Base Pay
Commissions
Overtime Pay
Bonuses, Profit Sharing, Merit Pay
Stock Options
Travel/Meal/Housing Allowance
7. E-compensation system
Employee Information
Attendance Record
Leave Record
Emolument & PF details
Generate Pay Slips
Annual Returns (TDS Forms)
Form 16
Employee Training Identifier
Training & Induction Programs
8. Need for E-compensation
To maintain uniform, error free, accurate compensation
To retrieve past records within seconds
To protect the data
To manage the pay package for international work force
To calculate easily
To link other system like performance appraisal, training,
recruiting
To match with budget, financial budget
9.
10. Oracle
Oracle's PeopleSoft Enterprise E-Compensation with Manager
Desktop is the solution for administering compensation
programs for employees, either individually or by groups,
through compensation planning, administration, and reporting
activities.
Managers are also able to provide total compensation
reporting to their employees, a valuable retention tool for the
organization.
11. Cont…
The E-Compensation Manager Desktop business processes
integrate with these PeopleSoft applications:
PeopleSoft HCM.
PeopleSoft Stock Administration.
PeopleSoft E-Performance.
PeopleSoft Global Payroll.
PeopleSoft Payroll for North America.
PeopleSoft Payroll Interface.
12.
13.
14.
15.
16.
17. PeopleSoft
In PeopleSoft HCM, E-Compensation integrates with E-
Performance to drive funding based on performance
achievements. This integration also enforces proposal
guidelines.
Stock awards are given through the Variable Compensation
business process. Because of this integration, stock awards are
included with all other variable monetary and non-monetary
awards for total variable compensation reporting and history.
18. Enhancements to the Load Pay sheets process enables you
to Add multiple source codes for ‘Other’ Source Type
19. Source will be displayed in Online Pay sheet and Paycheck pages
20. Procedure of E-compensation
Discussion of the objectives of the executive benefit program
Planning the preliminary design
Exploring funding and security alternatives
Developing a final plan
Analyzing and selecting funding vehicles
Developing implementation plans and executive plan
administration
Storing all the plans and the data into system
21. Software for E-compensation
PeopleSoft HCM 9.2:
PeopleSoft Compensation is a Global solution for
administering competitive compensation programs around the
world.
PeopleSoft Compensation can utilize a configurable matrix
when calculating salary increases.
PeopleSoft Compensation gives managers the tools to make
quick but informed decisions on how to distribute the funding
budgets for their group.
22. Cont…
Mercer WIN:
Mercer WIN | ePRISM is a comprehensive compensation
management, modeling and planning tool that enables you to
align your organization’s compensation plans with current and
future objectives. By combining compensation-specific tools
with powerful analytics, Mercer WIN | ePRISM gives you the
power to evaluate data, develop strategies and execute
compensation programs with confidence.
23. Cont…
Halogen Software:
Halogen E-Compensation greatly simplifies and automates the
entire compensation adjustment process. It provides all levels
of management with secure, simple to use tools for
distributing merit-based compensation including base salary,
variable pay, bonus pay, and stock options.
Features-
Complete compensation plans on time
Establish confidence in company-wide pay rates and
adjustments
Avoid legal hassles
24. Benefits of using E-compensation
Compensation Alerts notify managers when a Compensation
Cycle is available for their group. When complete, changes are
submitted and routed for approval
Automated Salary proration and eligibility rules further
eliminate manual intervention
View total compensation-related information for direct reports
from a central location, including salary, cash components, and
non cash items
Request or grant base salary increases for employees, which
are automatically routed for approval, either during targeted
review periods or on an ad-hoc basis
25. Cont…
Request or grant a base salary increase for a group of
employees, which you can optionally track against an
approved salary-increase budget
Easily set up workflow to automate approval routing
Use PeopleSoft's global functionality to ensure that all text,
date formatting, and data elements are appropriate for
multinational operations
Conduct business in any of 14 languages, or use Unicode
support to translate PeopleSoft Enterprise eCompensation
into 200 additional languages