Compensation Rewards

What is Compensation Rewards ?

Expectations of compensation and performance rewards will remain the only constants in time and space in the realm of performance management.

Incorporating compensation rewards best practices, the Compensation Rewards solution provides a platform for

1.     budgets for increments and bonuses by business units,

2.     define rules for compensation rewards,

3.     allowing recommendations and moderation of the manager,

4.     finalize and communicate rewards through official documentation

Driving performance for more than 10 years, Compensation Rewards has identified and adopted its key needs in compensation rewards to define the following critical commandments of the offering

Main features

1.General budgets for increments/bonus payment must be set up in advance

Rewards should have a performance-dependent relationship, and therefore the reward pie should be distributed accordingly.

With Compensation Rewards, budgeting for increments and bonuses can be done at the company, department, or business unit level.

2.Rules to be set to reward increment/bonus

Rewards can no longer be distributed unilaterally by the Administration – there must be fairness in the way increases and bonuses are awarded.

With Compensation Rewards, rules can be set for increments and bonus payments. These rules can be tied to the budget and salary levels of the business unit.

3.Managers should get involved to recommend increment and bonuses

Performance is not always a function of skills and hard work. Thus, an unbiased human opinion helps provide a perspective on who really deserves what.

With Compensation Rewards, managers can recommend increments and bonus payments within budget limits that can be approved by moderators of various levels after verifying the fairness of the recommendations.

4.As finalized rewards will be communicated through official letters

Compensation is a sensitive subject and organizations must ensure that any communication about rewards is formally made and recorded.

With Compensation Rewards, official increment and bonus letters can be customized and issued electronically to employees once bonus raises and payments are finalized.

System Requirements:

CPU: 1.8 GHz dual core processor

RAM: 2 GB

HDD/SSD: 50 GB of free space on main drive

Operating system: Microsoft Windows 10, Microsoft Windows 8 32-bit, Microsoft Windows 7 32-bit, and Microsoft Windows Vista 32-bit

Resolution: 1024×768

Supported Operating Systems

Mac OS X 10.5x (Leopard), Mac OS X 10.6 (Snow Leopard), Mac OS X 10.7 (Lion), Mac OS X 10.7 (Mountain Lion), OS X 10.9 (Mavericks), and Mac OS X 10.10 (Yosemite)

Hardware requirements

Memory - 1 GB RAM and more

Free disk space - 50 MB

System type - 32-bit and 64-bit OS