PeopleFluent Compensation software helps line-of-business managers use compensation to attract, retain, and motivate employees to achieve business goals. The solution dramatically reduces the time and effort required to manage salary planning, incentive planning, stock rewards, compensation plan configuration, and rewards communications. PeopleFluent compensation management software is also the only solution in the marketplace that provides enhanced flexibility and visibility without any of the hassles or costs associated with customized software code. As a result, managers are free to think about people, performance, and pay strategically, fostering a dialogue between employees and managers that helps motivate and retain top performers.
PeopleFluent has been offering compensation management capabilities for over a decade. A global solution, PeopleFluent Compensation includes easy to use capabilities, such as salary planning, year-round planning, incentives rewards, stock rewards, and total rewards planning.
PeopleFluent Compensation software is configurable to reflect the plan design and planning preferences of your organization. Planning worksheets help managers by not simply allowing managers the ability to enter a discretionary reward but also guide them through a successful planning process, including adherence to budgets and other salary plan guidelines. The solution also helps:
PeopleFluent Compensation software helps organizations budget to invest rewards in the people who drive bottom line business results for your organization. Solution capabilities include cycle-process workflow support for those organizations that continue to follow an annual, quarterly or other periodic payout cycle. Just as important, it also allows you to consider your budget and spend on a year-round basis – and tie those budgets to workflow for reward actions including:
Our compensation software also supports manager-discretionary or automatic incentive and bonus reward plans. Employees who understand how their bonus is calculated appreciate the motivating value of the reward. By handling complex calculations and then displaying the results in clear fashion on the screen, PeopleFluent vividly articulates this value. For organizations that tie performance goals directly to incentive payouts, PeopleFluent links goal results to incentive payouts to calculate the appropriate reward. By doing so, performance toward achieving goals is explicitly aligned with resulting rewards outcomes.
PeopleFluent Compensation software supports planning for stock grants and rewards, including options, restricted shares and other reward types. The solution includes the flexibility to plan in currency amounts, for a target reward value, for total number of options, total restricted shares or a combination.
Organizations that have a compensation planning process that includes more than a single reward type can include planning options for salary, incentive and stock rewards on a single worksheet.
PeopleFluent Compensation software includes visual drill-down report capabilities for managers and HR professionals. Best practice report templates feature a reward cycle summary that shows budget detail, including reward amounts that have already been invested versus those remaining. Amounts planned "off cycle" can also be reflected in salary planning and total pay reward reports. Managers or employees have self-service access to generate individual rewards.
Alerts, coaching and requirements needed to justify a reward are easily available on-screen to help coach managers to smart reward decisions. A convenient snapshot of relevant information around cash compensation is available including key ratios as well as a more comprehensive view into the employee's total compensation history.
Part of keeping managers in alignment with budget pool guidelines is establishing those pools and providing access by HR professionals to manage the different reward pools available to the business. This helps control the process, while also establishing a financial benchmark for accurate reporting not only of spend and current budget, but also adjustment totals, transfers and allocations. Those with administrative access also have auditable access to make edits to the budgets as necessary to define or revise reward amounts.
As planning managers make decisions, PeopleFluent's planning screens allow them to see the immediate impact of those decisions. Calculations take place immediately and if a currency value is entered as a reward recommendation, percentage increase is automatically calculated and vice versa. By providing this visibility PeopleFluent helps managers understand the budget impact of proposed people investments relative to guidelines.
As managers make decisions, second level managers and the business have line of sight into budget impact. Role-based security is defined so that only those who should have access to sensitive compensation information do so by role. Higher level managers can view summary reports and budget details conveniently as manager submissions "roll up" for consideration and sign-off. Compensation software data is protected throughout.
PeopleFluent offers the best solution to deliver an easy-to-understand global compensation planning solution to support the different countries in which they do business. Currencies may be converted from current planning currency to a selected currency.
Planning worksheets are configurable at both an administration level as well as on an individual level. Organizations may configure the solution with as few or as many columns on display as preferred. Columns displayed may either be mandatory or optional. For optional fields, the field chooser allows selection, by preference, of additional columns to add to the worksheet (including order and placement of the column). Data on the worksheet is immediately refreshed once a selected column is added to show the new data values.
Audit history is stored in the system to record the context of a compensation planning change, along with the date and time it occurred, the person who made the change, and whether or not it was a change made by a planning manager directly or done by proxy.
To learn more about how our Compensation Planning software can benefit your business, please contact us today.