Plateau Compensation Planning enables complete planning and management of all types
of compensation programs including salary, merit increases, market adjustments, lump sum payments and other discretionary pay components.
Compensation planning system is required to reduce the number of planning cycles which managers have to undergo while improving accuracy and equity in compensation decisions.
A good compensation planning system should provide a flexible approval workflow through configurable and automated alerts; inform managers of their adherence to current policies that supports an unlimited number of approval levels. Manager worksheets, employee profiles and confirmation statements should be easily configurable to fit your organization. It should ensure that real-time sensitive data is accessible only to managers with appropriate permission based on reporting hierarchy. Executive dashboard should have features of providing real-time graphical overview which includes drill down or roll up capability.
It should have powerful reporting capabilities that provide managers with the necessary information for creating competitive compensation plans and monitoring the business impact as they are administered. With end-user configurability, the products standard report template should provide flexibility to all user groups. It should allow organizations to manage salary survey data and company data to determine market pricing for jobs.
The tool should support the development of compelling compensation programs by providing managers with access to historical salary, bonus, stock options, performance ratings and titles. It should have additional built-in simulation functionality ensuring accurate implementation of compensation programs with simulations of proposed compensation plans.