Compensation

Overview

  • In today's dynamic work environment, effective compensation management is crucial for both organizations and their employees.
  • HR HUB 360 introduces a robust Compensation module designed to streamline and enhance the management of employee compensation.
  • This module is an integral part of the HR HUB 360 suite, offering vital tools and functionalities for both administrators and users. Here's an overview of its key features and capabilities.

Purpose

The Compensation feature within HR HUB 360 is crafted to provide a holistic view and management of employee compensation. It consolidates various sessions aimed at supporting both administrators and users, ensuring seamless and transparent compensation processes.

User Capabilities

Users have access to a comprehensive set of features that allow them to view and analyse their compensation details. Key capabilities include:

1. View Current, Future, and Past Compensation

Users can easily view their compensation history, including:

  • Current Earnings
  • Future pays projections
  • Past compensation records.

Users can see their compensation breakdowns (such as base salary, Additional earnings, & other earnings) all at once, in a single view or interface.

2. View Compensation Insights and Summary

  • Users can see their compensation details across different pay frequencies (e.g., monthly, bi-weekly).
  • Users can see summaries that break down their salary, bonuses, benefits, and other compensation elements, helping them understand the full value of their employment package.

3. Export Compensation Details

  • The Compensation section, look for an option to download compensation data. Additionally, users have the option to choose the file format for the download, such as PDF & Excel.

Admin Capabilities

  • Administrators have robust tools to manage compensation across the organization. Key features are:
01 Add New Compensation

Admins can add new compensation with the user interface guides admins through a step-by-step process this includes updating current and future base, additional earnings and other earnings

02 Update Existing Compensation

The admin possesses the capability to make changes to both existing and upcoming compensation information for users.

03 History Tracking

The module maintains a detailed history of any added, modified, or removed compensation types. This audit trail is essential for transparency and accountability, allowing admins to track changes and understand the evolution of compensation policies over time.

04 Draft and Award Compensation

Admins can add compensation details as drafts, which can be reviewed and edited before being marked as active. This feature allows for careful planning and approval processes before finalizing compensation changes.

05 Activity Monitoring

The module includes tools to monitor all compensation-related activities, providing admins with real-time updates and the ability to manage and rectify any issues promptly.

06 Task

when there is an addition or update related to compensation, a new task will be generated.

  • Compensation Added: When new compensation information (such as salary, bonus, or other benefits) is added, a task will be created.
  • Update a Task: Similarly, when there is an update to existing compensation information, a new task will also be generated.
  • When compensation information is added or updated, a task will be created, and an email notification will be triggered to the business user and HR/Admin.
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Features of Admin Compensation

Add New Compensation

Begin by establishing clear and well-documented compensation policies and procedures. Define compensation structures, eligibility criteria, and guidelines for salary adjustments, bonuses, and incentives.

2. Centralize Data Management

Centralize compensation data in a secure and accessible database. Maintain accurate records of User salaries, bonuses, performance evaluations, and other relevant information. Centralization facilitates easy retrieval and analysis of data, enabling informed decision-making and compliance with regulatory requirements.

3. Advance filters

  • Country Filter: Allows administrators to filter compensation data based on the country where the User works.
  • Employment Type Filter: Enables administrators to filter compensation data based on employment type, such as
    • 1099- Independent Contractor
    • CORP-CORP
    • Internship
    • W2 - Full-time
    • W2-Hourly
    • W2 - Management
    • W2 - Parttime
    • Others
  • Users Filter Provides administrators with the ability to search for specific Users by name. This filter facilitates targeted analysis and management of compensation for individual Users, simplifying tasks such as salary adjustments, bonuses, and performance evaluations.
  • Active and Inactive user Filter: Allows administrators to filter compensation data based on the employment status of Users, distinguishing between active and inactive Users.

Privacy and Security

  • HR HUB 360 is hosted on secure and compliant infrastructure with robust physical and logical security measures in place to safeguard compensation data.
  • Role-based access controls are implemented to restrict access to compensation details only to authorized personnel based on their roles and responsibilities within the organization.

Conclusion

HR HUB 360's Compensation feature is a critical tool for managing employee compensation effectively. With its comprehensive user and admin capabilities, advanced features, and strong focus on privacy and security, the module ensures that compensation processes are transparent, efficient, and secure. This empowers organizations to maintain competitive and fair compensation practices, ultimately supporting employee satisfaction and retention.

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