Many of today’s senior executives name pay-for-performance as the most critical tool in achieving the greatest financial results at their companies. But, implementing real pay-for-performance is easier said than done.
Effective-People helps you to quickly and easily implement a powerful pay-for-performance strategy.
- Improve employee retention: Employees who outperform their peers will be rewarded appropriately, feel valued and happy-and more likely to stay with your company.
- Be open, honest and accountable: Design your compensation strategy with objective data and communicate it company-wide showing a clear link between compensation and performance expectations.
- Optimize your budget: Run “what-if” scenarios to instantly see how increasing merit pay to your best employees will impact your budget.
- Save time and money: Eliminate thousands of dollars by making sure you’re not overpaying low performers. Also, the easy-to-use automated system will save compensation managers time and money.
- Eliminate human error: Manage your compensation in a secure environment with streamlined workflows where your data is determined via calculation and eligibility engines-eliminating privacy breaches and human calculation errors.
By rewarding great execution, you will retain more of your top talent and drive organizational performance that exceeds all expectations. Plus, you’ll enjoy clearer visibility into individual employee performance when it comes time to make critical compensation planning decisions.
Effective-People helps companies establish powerful compensation management processes, supported by user-friendly solutions – all delivered by experienced consultants.
Effective-People has helped more than 400 companies implement SuccessFactors. We use technologies and methods that are used by more than 28 million employees in more than 4.200 companies globally.