With limited resources and wanting less errors from manual manipulation of spreadsheets, the client required a productivity tool to streamline the merit budgeting process.
Turnover is always an issue. The recent war on talent has made this more challenging. The Client thought reminding employees The client had been using complicated spreadsheets for determining merit budgets for each country based upon competitive market analysis. This process was an administrative burden, error proned and very time consuming. They could not find a system to replicate their budgeting process allowing both country managers and headquarters to review and analyze the data together.
uFR automatically extracts all reward data for all employee and consolidates it to produce an always-on annualized view of total reward. With this platform it was possible for the client to:
- Map all rewards to market Benchmarks (e.g., Total Target Cash)
- Map populations to specific market populations (e.g., Hay refence level)
- Provide Local managers the ability to propose merit increases and new pay scales per population and country
- Automatically calculate pre and post merit market positions and compensation data, compa ratios, cost to bring to minimum and other evaluation metrics
- Permit Headquarters to quickly review the on-line merit recommended submission by country which streamlined review and approval processes to ensure both market fairness and estimated payroll cost impact guidelines were met.
The uFR platform is now critical for the calculation of the annual pay review budget. The budget numbers are loaded to Workday and the actual merit allocation process is completed in Workday, using the data and analysis derived from the uFR platform.
The new solution delivers higher quality data and analysis on their various country budgets. It is challenging to exactly measure the benefits of using higher quality data and a productivity tool. However, the opportunity cost of the amount of time saving from the HR team (both local and global) is immeasurable as the HR team was freed up to spend time on more value-added activities.