Franklin Templeton Case Study

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Based in San Mateo, Calif., Franklin Templeton is a publicly-traded investment company with $1.6 trillion under management. It has grown to be one of the world’s largest asset managers, acquiring well-known brands, including Putnam Investments and Legg Mason.

Franklin Templeton recognized there had to be a better way to meet their compensation needs. Specifically, they needed configurable permissions to adapt to the compensation procedures of more than 40 independently run units, flexible planning grids that incorporate historical compensation data, and self-service reporting to support decision-making by business leaders without manual effort by the compensation team.

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Compensation Best Practices

Performance and Compensation, Connected

Performance and compensation are managed as two separate systems, run by two different teams, on two different calendars. Employees don’t see any of that. They see one question: did my work change my pay? When the answer is unclear, the entire performance cycle starts to look like ceremony, and the merit budget behind it gets spread further from where it was actually meant to go.

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Compensation Best Practices

Eliminating the Seam

Performance and compensation are managed as two separate systems, run by two different teams, on two different calendars. Employees don’t see any of that. They see one question: did my work change my pay? When the answer is unclear, the entire performance cycle starts to look like ceremony, and the merit budget behind it gets spread further from where it was actually meant to go.

— Continue Reading