As the old saying goes, compensation isn’t the reason employees stay, but it can be the reason they leave. If you want to keep your best employees around, you need a sophisticated approach to using compensation as a strategic tool for engaging them, while staying in line with company compensation guidelines.
Harness information and tools to make better compensation decisions
Decisions about compensation happen during intense periods ¬— so how can you be sure they’re right for both your employees and your organization? ADP Compensation Management provides managers with software, resources and insights that:
- Support merit, bonus, stock, promotion, and a wealth of other rewards
- Help HR to define guidelines, salary ranges, and use market data, and top–down or bottom–up budgets
- Provide better control, visibility, and overall governance of compensation decisions
- Support adherence to corporate guidelines and budgets, and route compensation transactions through approval workflows
- Simplify administration while compressing compensation planning cycles
The result is a comprehensive understanding of data and trends coupled with clear and concise processes to help ensure you hit the perfect mark, every time.
Go Global, Regional, or Just Across Business Units
If your organization operates globally, across regions, or across diverse business units, compensation management can be complex. Our solutions can help simplify your work by:
- Supporting multiple elements, languages, currencies, and international date/time formats
- Ensuring accurate, consistent compensation decisions and reporting on a global basis
- Offering flexibility to support multiple plans and processes without compromising corporate governance
- Driving common practices and enforcing corporate guidelines across all geographies and business units
- Providing powerful reporting, analytics and decision support in the form of guidelines, salary ranges, market rates, historical employee data, and budget allocations
With ADP, you get a reliable solution to the unique challenges that diverse businesses face when developing and administering compensation packages for employees.