Digitise. Consolidate. Communicate. Real-time reward data on everyone’s desktop.
Where Are You on the Digital Total Reward Maturity Cycle?
Whether your focus is on Cost Savings in Administration or Employee Engagement, our experts will help you assess where you sit on the digital reward maturity cycle and map your journey to reach your goals.
Automated global consolidation of reward for all employees, supporting instant access to total reward data and personalisation of employee reward, enterprise-wide analytics, automation of complex reward processes. Reward policies are fully documented and data can be drilled from the group total down to an individual employee. Pay ratio and pay gap reporting is instantly available by any combination of variables.
Reward is a collection of isolated systems and activities that come together once a year in a tax or reward statement. Reward processes are heavily dependent on manual activities. Reporting on total reward at the employee level is dependent on extracts from multiple systems consolidated and reworked in spreadsheets. Pay ratio and pay gap reporting is based on samples and assumptions rather than comprehensive data.
How Do We Do it?
Here are the product components and how they can be used to benefit you regardless of where you are on this cycle.
- Record all policies, rules and their dependencies digitally so that the system can analyse and make predictions
- Our Total Reward System automates the consolidation and validation of data from multiple reward systems into one central database for all employees and all types of reward
- 24/7 live data by automated data feeds
- No manual input is needed
- Integrates seamlessly with HRIS platforms
- Inbound and outbound links to other systems
- Look and feel aligned to your organisation’s brand guidelines
- Modularised system tailored to individual user needs
Personalised Total Reward Statement
A digital real-time system available to all employees at any time
- Instantly accessible at any point when an employee might want to plan to buy a house, start a family, check pay (and the full range of benefits) against the market
- Employers who want to offer “Ultraflex” can allow employees to personalise their package by moving reward between any combination of categories (pay, incentives, pension, stock, benefits)
The opportunity to get feedback on employee preferences and what is and isn’t working
Employees are surveyed on what is important and satisfactory in their own personal package
This facility is ‘always on’ and is not a once a year exercise
Revealing where spend may be wasted or opportunities being missed
Providing personalisation to help employees respond to circumstances and change over time, and tailor their rewards to their lifestyle needs.
Employees increasingly want to choose how their reward is allocated across the major categories – pay, bonus, pension, benefits, shares, and the system provides this capability.
Flexible Reports and User Dashboards
Full spectrum reporting across all categories of reward in all entities and all countries sets:
- Accurate total cost of reward at user fingertips
- Users can tailor reports based off their needs and the output they want
Package Modeller and Workforce Planning
Without a Total Reward System, modelling reward packages for individual employees is a complex manual assembly of parts from separate categories of reward.
In workforce planning or delayering the task of collating data from all reward categories against groups of employees is regarded as too difficult, so major decisions are taken based on a subset of data. By contrast Total Reward system data is comprehensive, and instantly available, facilitating much more flexible package tailoring and better decision making. In delayering exercises it can easily be combined with merit or cost data to identify groups who should be targeted for review.
Documentation of Reward Policy
Document and apply a common, consistent policy standard to all reward, all in one place
Salary Survey Kit
A digital process with validated survey data extracted from a central database
Automated benchmarking data loading and calculations in a central database with instant access to reporting and analysis
Ultraflex – Future Vision
This is the future vision of technology in reward.
Ultraflex enables employees to personally tailor their reward by flexing across all categories (pay, pension, benefits, and incentives)
The Ultraflex approach will give employees:
- More control and greater ability to tailor their reward to personal entrepreneurial goals
- Greater satisfaction, productivity and retention, whilst reducing the annual spend on reward by removing reward items that employees do not value
This is a solution for multi-national firms which are struggling to satisfy this core demand from younger talent
The updated version of TRS (to be released in 2019) will allow other companies to share this functionality and efficiency