With a strong mission, defined values and clear business concept, this global fashion retail firm of 132,000 employees is a leader in their marketplace. Their expansion target is to increase the number of stores by 10-15% each year.
Bonus incentive payouts occur on a monthly, quarterly, and annual basis. This includes performance metrics for Sales Per Hour, Sales, Service Performance, Average Purchase, and Conversion Rates, based on store, district, and regional financial results. However, these payouts could not be completed without standard calculations and centralized data.
Decusoft addressed these challenges all within its specialized workforce compensation solution, Compose. Its centralized database enabled the administration of total payouts per employee, with real-time views, across all incentive types throughout the year, while streamlining performance-based union and non-union employee annual merit calculations.
With Compose the client was able to achieve:
• Central repository for incentive and merit calculations, complete with historical employee payment information
• Flexibility to accommodate numerous complex bonus programs on varied timetables
• Dramatic increase in timely, up-to-the-minute employee bonus calculations and payments
• Streamlined, automated data import from multiple sources
• Web-based, real-time view of total payouts across all compensation types throughout the year
• Elimination of manual spreadsheet processes with a drastic reduction in error rates
• An automated way to archive incentive transactions, offering a full audit trail year over year
The need for a software solution to manage, track and automate union and non-union employee base annual merit cycle, as well as complex, high-volume, component-based incentive calculations for 16,000+ U.S. employees.
Using Compose to leverage data in their existing HCM software suite, the Compose solution provides the tools required to effectively plan and manage the client’s evolving incentive programs.
With Compose, the firm created more flexible bonus plans as new lines of business were added, resulting in an increased capacity to attract and retain employees in a highly competitive market.