BONUS REVIEW AND SALARY REVIEW SYSTEM
Software Tailor Bonus Review and Salary Review System is designed by certified compensation experts for any users in your office. Software Tailor Bonus Review and Salary Review System software allows you to analyze pay competitiveness and simplify automate approvals all in a single, cloud-based solution. The Software Tailor Bonus Review and Salary Review System allows quick, streamlined analysis of your internal pay practices against company established reference rates. Ensure pay program competitiveness versus the referenced rate, analyze internal pay equity, model the cost of performance-based merit increase programs and adjust your compensation plans accordingly.
Salary Changes & Adjustments
Software Tailor Bonus Review and Salary Review System is committed to ensuring that total compensation is commensurate with the work performed. It is critical that salaries within your area of responsibility be fairly administered and in compliance with company's management policies.
When considering salary changes, either during the annual year-end adjustment process or as an off-cycle adjustment, Software Tailor Bonus Review and Salary Review System allow managers to make decisions that reflect both the relative performance of individuals as well as their position within the salary range with a focus on rewarding high performers. Salary differentiation is also an important consideration that encourages improved performance and increased retention of valuable contributors.
Features and Benefits
- Year End Salary Adjustments
- Year End Bonus Proposal
- Salary Exception Processing
- Quickly assess pay program competitiveness and internal equity
- Easily analyze and model internal pay structures against market rates and evaluate various cost scenarios
- Model the cost of performance-based merit increase programs with ease
- Eliminate manual market pricing processes to save time and reduce errors
- Easily capture and save benchmark job matches made throughout the year
- Centralize storage of bonus and salary information so they are accessible anytime, anywhere
- Web or mobile interface depending on their device
- Make proposal anywhere 24/7
- Email confirmation notifications and reminders
- Build customized templates for your organization’s job structure and content
- Enable line managers to participate in the process of building and reviewing
- Allows you to analyze pay competitiveness and automate approvals all in a single solution
Case of the Month
The TÜV Rheinland Group is a leading provider of technical services worldwide. Founded in 1872 and headquartered in Cologne, the Group employs 20,000 people worldwide with thousands of people in Greater China. They used Software Tailor Bonus and Salary Review System for all management level users to make bonus and salary proposal to their direct reports.