This requires managing a careful balance of merit increases against market movements for 160,000 employees in 100 countries globally – no easy feat.
Unilever started this many years ago using spreadsheets, but it proved an extremely resource intensive exercise for all involved.
Today the process is completely automated
All Total Reward data is centrally held and organised in a real-time digital reward application.
- Maps all company rewards to market Benchmarks (e.g. Total Target Cash)
- Maps company populations to market populations (e.g. Hay reference level)
- Imports any form of market data
- Allows local managers to propose merit increases and new payscales per population and country;
- And Automatically calculates pre and post merit market positions, total reward cost, compensation data,
compa ratios, cost to bring inline policy and more.
This enables the central team to negotiate all salary increases across the world, with a detailed understanding of both market position and estimated total reward cost impact – in real time! So, budgets, salary increases and an total reward cost can be agreed in advance of salary review.
update/ add rewards without having to go to the central team every time. 2. Benchmarking – the excel upload of market data is really cool. Overall, I think the new system is user friendly, I like it.”
more intuitive and I am making really good promotionals with my Team in LATAM because in past years it did not have good reviews. I think once the benchmarking process start they will see this big changes too!”