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. And among clients that have implemented SuccessFactors, the Variable Pay module ranks as one of the most complex – and flexible – modules.
With experienced and certified consultants, GP Strategies helps you implement a powerful bonus process with SuccessFactors Variable Pay.
- 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 Variable Pay and Bonus strategy with objective data and communicate it company-wide showing a clear link between company, team and individual bonus targets.
- 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.
- Assurance that budgets are used wisely. Automated monitoring of compliance with variable pay guidelines, keeps payouts in line with budgets. Plus, save time as bonus and merit recommendations are automated from employee performance data. Run “what-if” scenarios to instantly see how increasing merit pay to top performers will impact budgets.
- Eliminate human error: Manage your bonus processes in a secure environment with streamlined workflows where your data is determined via calculation and eligibility engines-eliminating privacy breaches and human calculation errors.
- Significantly reduced risk with improved audit compliance. Data for audits is automatically stored, greatly reducing this burden for compensation administrators.
- Tightly linked to your goal and performance management processes
- Prepare end of year bonus statements for easy self service access within People Profile
By rewarding goal achievement and great execution, you will retain more of your top talent and drive organizational performance. Plus, you’ll enjoy clearer visibility into individual employee performance when it comes time to make critical compensation planning decisions.
GP Strategies helps companies establish powerful Variable Pay processes, supported by user-friendly solutions – all delivered by experienced consultants.
GP Strategies has successfully completed more than 550 SuccessFactors engagements. We use technologies and methods that are used by more than 40 million employees in more than 5.000 companies globally.