Feb 10 2021
“Today, we have robust cloud-based compensation software that can completely automate the entire complex activities of the Total Rewards teams.”
The endless impossibilities of crunching numbers to create that perfect model (and yes, accompanied by equally endless possibilities of making errors); spending months together to prepare the roll-out of the compensation review process; incorporating last-minute comp change requests from the management; racing against time to catch the month-end payroll; spending sleepless night to distribute e-letters...well, well, well…this is the story of every C&B professional around the world who has not leveraged best in class HR Tech solutions.
It’s quite intriguing that a high-impact function such as “compensation planning” (that almost always consumes a sizable part of the organisation’s budget) is accorded the least priority in the Digital HR journey. Wonder why? Well, the answer is Total Rewards specialists believe that it is almost impossible to automate the complex function they manage. Is that true? Well, definitely not.
Today, we have robust cloud-based compensation software that can completely automate the entire complex activities of the Total Rewards teams. And these smart HR Tech solutions can effectively deliver on the following compensation planning activities seamlessly:
Key benefits of leveraging Compensation Management software:
Globally, while the pandemic has provided a strong flip to performance management solutions, there has been a resultant downstream spurt in the interest for compensation software solutions too. This has been triggered mainly due to market-shifting factors such as data-driven decision making, and an increasing need for efficient compensation policies and talent retention models. Organizations are increasingly deploying such smart HRTech solutions to view and alter related policies if required, and efficiently plan rewards, bonuses, and promotions for their employees.
Compport is one such cloud-based HR software that focuses on Compensation Management, backed by People Analytics & Employee Surveys. Compport offers a tailored fit solution to precisely meet your needs through:
Compport’s existing and growing capabilities to manage your compensation programs not only aim to bring enormous efficiency in processes and efforts by HR and managers but will also strengthen and accelerate your journey of creating an empowered culture. Learn, test, deploy to see the SEA of advantages through Compport.
Sachin Bajaj is the Founder and Managing Director of Compport. He has 20+ years of experience spanning across various industries like hospitality, telecom and pharmaceuticals for international and global organizations like ITC Group, Bharti Enterprises, Etisalat and Takeda Pharmaceuticals International. He is also the Founder of an innovative Rewards platform called “Compport”, which supports organizations in managing Rewards in a very innovative, efficient and business impacting ways.
Sachin is an expert in designing and implementing performance-based reward strategy and programs that have resulted into valuable business outcomes for large multinationals and global organizations. An innovative business focused thinking, nurturing talents in C&B area and influencing the key stakeholders from multiple cultures has been Sachin’s key ability and strength.
Sachin's vision is to explore opportunities and possibilities to continuously innovate in the area of Strategic Rewards and use his experience and expertise for supporting organization in transformational reward program. He is also a frequent public speaker in various Rewards conferences where he likes to share his successful experiments and opinions with C&B Network for collaborative development.
He is a graduate of business studies and has done his Executive MBA in Human Resources from India.
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