Overview of Workforce Compensation Management
As a line manager, you can allocate compensation, such as merit increases or stock grants, to groups of people on a focal, anniversary, or periodic basis. You can also promote people, rate their performance, and communicate compensation changes.
You can use models to automatically calculate compensation, and even allocate it. You can analyze proposed changes for equity among peer groups and by manager. You can also analyze how these proposals align with the market. And you can analyze how proposed changes align with organizational compensation strategies for performance.
If you're a compensation manager, you can do these same tasks for oversight, to override, and to act as proxy. If you're a compensation administrator, you process and transfer approved workforce compensation to people's HR records.
Line and compensation managers can manage workforce compensation using the task. Compensation managers and administrators can use the task.