The case for using compensation software to reduce errors while saving time & money
Bleary-eyed employees on your compensation team work over 60 hours per week preparing for the annual compensation cycle. They pour over the spreadsheets that track your compensation and rewards. At best, they track every penny that goes out, relying on formulas and macros. At worst, they let exhaustion win out, and just hope everything adds up.
Does this sound like your company?
You may have noticed more errors lately, and more complaints from employees – i.e. incorrect paychecks, missing bonuses, and unfulfilled promises. This is just the small stuff. Errors could be, and will be much worse if your current process continues on.
The simple truth: managing your company’s compensation through spreadsheets is dangerous. It’s not if, but when, the system will fail you and cost your firm a shocking amount of man-hours and money. It’s not if, but when, a hacker will break through your thin password system and steal all your employee information.
Thankfully, there is another option. It involves the practice of using secure, web-based, centralized compensation software, instead of spreadsheets, to manage your company’s total compensation. This practice reduces errors, improves security and saves your organization time and money.
Fewer bleary-eyes. Fewer late nights. System accuracy. More security.
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