Solution for Compensation Planning

In Articles, Solutions by donhagell

The overall purpose of Salary Planning is to:

  • Ensure adequate workforce to meet the strategic goals and operational plans of your organization – the right people with the right skills at the right time
  • Keep up with organizational, economic, legislative and technological trends that impact on workforce in your area and in the sector
  • Remain flexible so that your organization can manage change if the future is different than anticipated

 

Salary planning the future workforce needs of the organization after analyzing the organization’s current human resources, the external labour market and the future workforce environment that the organization will be operating in.  The analysis of HR management issues external to the organization and developing scenarios about the future are what distinguishes strategic planning from operational planning. The basic questions to be answered for strategic planning are:

  • Where are we going?
  • How will we develop workforce strategies to successfully get there, given the circumstances?
  • What skill sets do we need?

Specific to salaries, planners will input into the Salary Planning application and update the corporate financial plan automatically.  This process is used by the planners at the Business Unit level of the organization and corporate planners a full workforce planning view.

The following activities are covered by this solution, you will be able to:

  • Salary Planning, Budgeting, and Forecasting
  • Pre-start to the process
  • User Updates
  • Forms in each folder
  • Loading data
  • Employee Edits
  • Action Items (from Menus)
  • Calculations – Definitions
  • Optional: Moving Data from TBH to Employee