This global security firm is dedicated to advancing fire safety and security through tailored, industry-specific solutions that save lives, improve businesses and protect people in their homes and workplaces. Their 57,000 member workforce resides in more than 900 worldwide locations.
Administering the Annual Incentive Plan (AIP) plan modifiers in the tail end of their compensation cycle presented a challenge, involving rolling-up individual employee awards to the division and subdivision levels for overall review and adjustment, followed by a modification of the impacted employee level calculations. The firm wanted flexibility and real-time audit access to facilitate more expedient data-based business decisions. Unfortunately, their existing software did not provide the customized configuration required for their merit plan administration and procedural tasks.
In a Decusoft-hosted environment, the specialized workforce compensation solution offered by Compose addressed their AIP modeling and auditing challenges by automating the needed custom plan modifiers; including modeling, comprehensive audit trails and fast time-to-deployment. Plans are now in place to move manager planning and statement generation from their existing legacy systems to Compose.
Today, the firm’s user base consists of a core team of 5,000 global planning managers and more than 30,000 payees across all compensation types. Compose is supporting the firm’s business growth, with additional compensation types to include equity and merit.
• Removal of issues associated with various complex plan modifiers
• Increased accuracy with centralized and auditable results
• Elimination of spreadsheet dissemination and collection, with a drastic reduction in error rates
• Greatly reduced turnaround time for last-minute adjustments
• Web-based, real-time views of modifier modeling across all incentive types throughout the year
The need for 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.
In less than 60 days, Compose was added to the company’s business operations, enabling the administration of their AIP, including exports back to their existing source systems.
Because of their high level of satisfaction with a more simplified plan administration, the client custom configured Compose to administer its merit and equity plans as well.