Compensation

All Blog

  • The Compensation page on HR HUB 360 has been meticulously crafted to provide users and employers with an exceptional experience, offering comprehensive insight into their compensation structure. Our product is designed with careful consideration for both parties, emphasizing ease of use for all stakeholders.
  • Our platform Compensation page acts as one stop for all user queries related to their compensation. This was designed to minimize the need for HR support reducing hours of manual work. User can view their gross pay along with a well-defined breakdown such that no external support is needed for understanding it.

Components of Compensation

  • Users can access transparent information about their compensation, including base salary, variable pay, bonuses, and benefits through the platform. This transparency fosters trust and helps Users understand how their compensation is determined.
  • Base Salary: While base salary remains a fundamental component of compensation, its significance has evolved. Today, it serves as the foundation upon which other elements, such as bonuses and incentives, are built.
  • Variable Pay: Organizations are increasingly adopting variable pay structures, including bonuses, commissions, and profit-sharing schemes, to align employees' interests with organizational goals and performance metrics.
  • Annual Bonuses: Additional payments given to employees based on their performance, company profits, or other criteria.
  • Others: HR HUB 360 offer personalized recommendations and insights based on organisation preference.

Features of User Compensation

  • HR HUB 360 supports the management of multiple compensation statuses for the same compensation type, enabling flexibility in tracking changes and updates over time.
  • HR HUB 360 design features a simplified layout, presenting compensation information in an easy-to-view format using both Tile and Grid layouts for enhanced accessibility and user experience.
01 Compensation type
  • HR HUB 360 allows for the addition of multiple compensation types, each with its own effective date. When a new compensation type is added, the existing one automatically expires at the effective date of the new one, ensuring seamless transition and accurate record-keeping.
02 Compensation by Month
  • The Compensation section, look for an option to view compensation data by month.
03 Compensation history
  • will be displayed according to the specific compensation type, providing a comprehensive record of all changes and updates related to that type of compensation.
04 Compensation log
  • is a detailed record or journal that tracks all changes and updates related to an employee's compensation over time. It serves as a comprehensive history of compensation-related transactions and events, providing valuable insights for both administrators and employees.
05 Compensation summary
  • provides an overview of an employee's total compensation package, including base salary, variable pay, bonuses & others. It serves as a concise snapshot of the various components that make up an employee's compensation.
06 Compensation download:
  • The Compensation section, look for an option to download compensation data. Additionally, you may have the option to choose the file format for the download, such as PDF & Excel.

Admin Compensation

  • As an HR/Administrator, your role in overseeing compensation processes is pivotal for maintaining employee satisfaction and driving company performance. You play a crucial role in ensuring that compensation practices are fair, competitive, and aligned with organizational goals.
  • This comprehensive guide offers valuable insights and best practices for enhancing compensation management from the administrative standpoint.

View Compensation

Features of Admin Compensation:

1. Establish Clear Policies and Procedures

  • 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

Overall, the HR HUB 360 compensation module enhances the User experience by providing transparency, self-service options, access to resources, performance integration, personalization, communication channels, and compliance assurance. By streamlining compensation management processes and empowering Users with tools and information, the platform contributes to a positive work environment and fosters User satisfaction and engagement.

Contact Us
expand_less