Published: May 19, 2022Time to read: 2mins Category: Compensation
Coffee Beans Can Add Up Too
Joe and Suzy work for a coffee retail giant. When Joe and Suzy started, they were each crafting lattes at the local store which, at the time, was one of only 12 establishments. Today, with nearly 400K employees, and thousands of locations in the US alone, Joe and Suzy are leading the organization’s people strategy as HR executives.
Recently, Suzy learned that many of the new hires were comparing their compensation packages to people who had been there from the beginning. She realized that her path from barista to HR executive was certainly unique as she “grew up” with the company. She asked Joe if he too felt that his compensation and rewards package was “special” in comparison to those of new hires. Turns out it was…
As a growing and publicly-traded company, they wanted to get things back in line. Their investigation uncovered a number of inaccuracies due to the complex geographic and financial aspects of the company. Further, the high number of special arrangement compensation plans due to internal moves like Suzy and Joe’s was a significant administrative burden for HR.
Finding the Right Compensation Management Tool
Suzy and Joe reached out to a number of providers in the HR tech space who could support a company of their size. They ultimately chose PeopleFluent and its compensation product because it could support change management, complex calculations, and role-based reporting. With PeopleFluent Compensation, the company could now configure hierarchies and provide the flexibility that retailers need. They could also pro-rate without manual intervention, which reduced inaccuracies, saved time, and allowed the company to easily manage internal job changes and off-cycle increases.
All in all, Suzy and Joe’s decision to use PeopleFluent Compensation resulted in streamlined workflows and calculations across all business units and improved manager decisions—and that was before PeopleFluent enhanced its Compensation product with People Analytics.
Now for the numbers, within 18 months of using PeopleFluent Compensation, the company achieved pay equity and continued to save more than $1M annually.