The major job of the compensation team includes salary administration, salary reviews across organizations, and deductions. TalentComp helps plan, organize and control employee payments and streamlines the salary administration process. It enables routing, approval, and distribution of salaries and bonus. It is a complete compensation management solution.
With the salary increments and recommendations being routed electronically, supervisors can approve salary hire, make changes to the salary, and make salary adjustments on the fly. TalentComp enables setting the amount for the department pool for raise and bonus, as per the company policy. It also enables calculating the "What if?" scenarios with great ease.
The information about salary history and grades of employees can be easily collected from any HRIS and payroll system. TalentComp helps keeping the employee compensation information up-to-date by regularly implementing, upgrading, and maintaining the compensation details.
Security of the compensation information is the key feature of TalentComp. We use best of the breed technology to protect the compensation details. In addition, TalentComp allows only the authorize users to have access to the information and limits the document sharing ability of users’ to protect the sensitive data.
Managers can enter merit increases and bonus and stock recommendations for their direct and indirect reports. This view also shows each employee's current salary and calculations based on your specific guidelines. Information can be configured according to your needs.
Choose Show All to see all direct and indirect employees at once.
To see indirect reports of lower level managers, simply click the manager's name to drill down the hierarchy.
The Budget or Pool section at the top shows the amount available to distribute. This number changes based on the employees in view on the table below.
Clicking the magnifying glass icon can show additional demographic or historical information about the employee to aid in decision making.
Managers and administrators can review a variety of real-time statistics for the current cycle as recommendations are passed up through the TalentComp system.
Completion percentages, as well as summaries detailing how total amounts are allocated for merit, promotions, bonuses and more, can be reviewed.
Graphical views of increase distribution can aid in visualizing data.
Information can be exported as a PDF with a single click.