This Car Rental Group and its subsidiaries operate one of the world’s leading car rental brands, providing business and leisure customers with a wide range of services at more than 2,100 locations in the United States, Canada, Australia, New Zealand, Latin America, and the Caribbean region. They have more than 20,000 employees worldwide.
The team needed to combine and automate Merit, Bonus, and LTI processes for over 7,000 employees in the US and Canada. They were using an off-the-shelf software solution that they felt would streamline their current process, however, the bulk of Merit and Bonus processes remained manual, and long-term incentive plans were still not being addressed. The existing manual processes were time intensive and unreliable but appeared necessary based on the complexity of the company’s Bonus plan structure. In addition, with manual processes, unnecessary dependencies between human resource directors and the compensation team grew.
After evaluating numerous solutions, the client selected Compose as their web-enabled workforce compensation solution.
The Compose team:
• Created a centralized data source for Merit and Bonus information
• Created a single point of entry for Merit and Bonus planning, management, and deployment
• Provided manager self-service for Merit processes
• Created quick turn-around for a narrow Bonus processing window
• Updated Bonus calculations directly from current financial data
• Allowed for the administration of over 50 plans, some containing over eight components
• Facilitated regular imports of over 90,000 rows of financial data, which directly affect Bonus calculations
• Facilitated rapid response to any last-minute financial adjustments that affected Bonus calculations for large segments of the employee population
• Provided the ability to automate individual employee overrides to Bonus calculations
A customized HCM software solution to help decrease overhead and streamline the complexity of their Annual Incentive Plan (AIP), while addressing specialized modeling and auditing needs.
Utilizing the company’s investment in its Oracle HRIS system, Compose complimented existing workflow and added efficiencies through custom automation of Merit and Bonus processes.
The solution eliminated manual processes while maintaining a familiar workflow. It increased efficiency, removed time-consuming dependencies, and improved data integrity.