Compensation is one of the most critical and sensitive factors for any employee and the employer. Every organization handles it with utmost care when it comes to defining the same. The entire organization team comprising of its management leaders, compensation administrators and managers jointly collaborate in tandem while the compensation review cycle is triggered. During this time they attend few regular task items such as:
- Managers needing their direct reporting teams data in one common place so that they can easily do a comparative analysis
- Compensation Administer tracks progress on compensation cycle
- Management leaders require accurate reporting and updates every single time the compensation cycle proceeds
PeopleSoft Compensation 9.2 is the best answer for all these needs. It provides interactive pivot grids for users to have more strategic decisions, dynamic reporting with proper data security. Managers can also make use of analytics provided at Compensation History for individual employee compensation history.
Pivot Grids basis is PS Queries, which display the gathered data into easy to use grids and charts. There are delivered pivot grids in Compensation which can be configured based on specific needs.
PeopleSoft Compensation 9.2 delivers following Pivot Grids:
- Compensation Peer Analysis- Enable managers to compare compensation by position, location and department for their direct reportees.
- Compensation Cycle Admin-For Admin to track progress and status of open compensation cycles
- Compensation Distribution
- Compensation by Performance
Other than Pivot grids, PeopleSoft Compensation 9.2 has also delivered an enhancement which is mostly expected and required by today’s customer while implementing eCompensation i.e. on cycle job changes. This feature was not available in earlier versions which always raised questions from customers, what happens if any changes are made in Job Data while Compensation cycle is open? The answers used to be that PeopleSoft (till 9.1) does not support changes in Open cycle.But now no more cutoff period for HR transactions, as PeopleSoft 9.2 enables you to generate alert messages when employees with one or more of the pre-selected job changes are identified during the open cycle. These alerts are available when managers and administrators access the allocated compensation component and it gets displayed next to the associated employees in the View Alert column.
With these new features, easy to use grids & charts and a comprehensive strong Core HR base; PeopleSoft Compensation 9.2 creates its unique edge in the market.