why beqom for performance and compensation management
DESCRIPTION
SPOTLIGHT ON COMPENSATION PLANNING SOFTWARE Tuesday, 14th October 2014 | LONDON E-REWARD.CO.UK CONFERENCE Presentation to conference by: Trish Cosgrove, Head of Sales UK & Ireland, beqom Trish shares how beqom's customers drive workforce behaviour by leveraging multiple factors, including the definition, communication and tracking of individual objectives that are clearly mapped to corporate goals.TRANSCRIPT
Copyright © beqom SA 2013-2014 All Rights Reserved. No part of this document may be reproduced without express consent of beqom SA.
eRewardDriving Workforce Behaviour 14th October 2014
Copyright © beqom SA 2013-2014 All Rights Reserved. No part of this document may be reproduced without express consent of beqom SA.
Why?
People are a company’s biggest asset
People are also one of the biggest costs
Copyright © beqom SA 2013-2014 All Rights Reserved. No part of this document may be reproduced without express consent of beqom SA.
Current State
Most large organisations still use Excel / homegrown systems or a combination of….
Believe there is no way of systemising reward processes effectively
‘Put up’ and struggle with the difficulties of managing the processes
Copyright © beqom SA 2013-2014 All Rights Reserved. No part of this document may be reproduced without express consent of beqom SA.
Future State
The unknown is certainly achievable
As demonstrated by our clients
Example processes:• Salary Alignment• Bonus / STIP• LTIP / Deferred Bonus• Sales Incentive Management
Copyright © beqom SA 2013-2014 All Rights Reserved. No part of this document may be reproduced without express consent of beqom SA.
FINANCE
• Increased focus on process improvements, data consistency, transparency and IT costs
• Mergers, aquisitions, reorganisations, sell-offs require the ability to ensure rapid integration, negotiation and transparency
• Pace of business is getting faster• New products are launched faster and
product life-cycles are shorter• Cumbersome home grown systems
Copyright © beqom SA 2013-2014 All Rights Reserved. No part of this document may be reproduced without express consent of beqom SA.
BNP Paribas
Need
• Link employees more closely to orgnanisation strategy through effective KPI management
• Transparent compensation process• Reduce costs by improving global
productivity• Manage a very complex LTI
management process
Results
• Compensation processes compliant with regulatory guidelines and security requirements
• Highly flexible management of all deferred bonus and LTI processes at Group level
• Easily managed in one solution from initial allocation to payments over the year/s
• Ability to manage situation changes
Copyright © beqom SA 2013-2014 All Rights Reserved. No part of this document may be reproduced without express consent of beqom SA.
Fidelity International
Need
• Reduce the risk of Key-man dependency
• Manage ASR; Bonus and LTI/deferrals in ONE solution
• Manage a complex, multi level (upto 20) approval process
• Global ( 24 countries ) multi-currency
• Handle mobility
Results
• HR/reward in control of the processes
• Internal users can load data, create new reviews, update review parameters without IT
• Simulate impact of new reviews• Clear communication to the
employees• Reduction in time and ease of
managing the processes
Copyright © beqom SA 2013-2014 All Rights Reserved. No part of this document may be reproduced without express consent of beqom SA.
TELCO / TECHNOLOGY
• Need to manage many different processes• International context multi-lingual/currency,
regulations by country• Optimise plans to achieve highest effectiveness vs.
available budget• Complex compensation plans
• for different roles• different products and services• complex revenue recognition rules: overlay quota’s, sales
splits etc.• Complex ASR – individual performance/country/region/etc.
Copyright © beqom SA 2013-2014 All Rights Reserved. No part of this document may be reproduced without express consent of beqom SA.
Microsoft
Need
• Manage STI for sales and professional services
• Have a consistent view and approach to plans worldwide
• Simplify the plans to effectively drive individuals
• Simplify and improve communication worldwide
• Close integration with SAP/HR• Ability to implement quick changes
to compensation plans
Results
• Improved communication has led to higher engagement with employees
• On-time and accurate payments• Greater control of each step of the
process: Set-up; Simulation; Accrual; Communication; Payment
• Managing 1000 different Comp Plans for 25k employees rolled out to 100+ countries
Copyright © beqom SA 2013-2014 All Rights Reserved. No part of this document may be reproduced without express consent of beqom SA.
Vodafone
Need
• A compensation platform to accelerate their HR transformation
• A global framework with local autonomy
• Save time and resource and improve motivation
• Needed strong analytics and simulation engine
• Global; robust to manage 85,000+ employees
Results
• A clear view of the Vodafone organisation hierarchy
• Accommodating a myriad of different local rules within a common framework
• Access to source data – worldwide central installation
• Performance Evaluation with calibration
• ASR, Bonus and LTIP
Copyright © beqom SA 2013-2014 All Rights Reserved. No part of this document may be reproduced without express consent of beqom SA.
MANUFACTURING
• Need for Total Compensation platform• Complex ASR and Bonus processes, multi-
company; multi-brand; multi-region …• Need to optimise budget allocation for
merit increases and bonus across companies/divisions/ business units
• Transparent, consistent and structured communication of reward to employees and sales partners/dealers globally in currency
Copyright © beqom SA 2013-2014 All Rights Reserved. No part of this document may be reproduced without express consent of beqom SA.
Total
Need
• Replace bespoke (Excel) development
• Automate very manual processes• Simulate staff cost• Manage a very complex and
detailed salary review process• Provide managers with all the
information required at their level to carry out the reviews
Results
• Automated and self-service processes
• Quality of communication and clarity of rules
• Ability to manage matrix-based envelope definition over 35 populations for base and bonus with special envelope for new promotion, gender equality
• Manages a very complex workflow • Global processes drastically reduced
in time and resource
Copyright © beqom SA 2013-2014 All Rights Reserved. No part of this document may be reproduced without express consent of beqom SA.
SERVICES
• Need for cost modeling, benchmarking and scenario simulation
• Complex matrix based organiastions with multiple hierarchies
• Management of promotions as a separate process
• Transparency and risk management• Total compensation statements
Copyright © beqom SA 2013-2014 All Rights Reserved. No part of this document may be reproduced without express consent of beqom SA.
Logica CGINeed
• Replace bespoke (Excel) development with a robust workflow driven solution
• Put line-managers at the centre of the process
• Rapid deployment• Deliver in French and English• Comprehensive management
information and Executive reporting
Results• HR now focus on process control
and analysis• Managers are provided with all the
information needed to be involved in the process and make decisions
• Managers have access to benchmarks and can propose increases in compliance with HR guidelines
• Removal of duplication and reduction of risk across the firm
• Access to analysis and reporting at all levels
Copyright © beqom SA 2013-2014 All Rights Reserved. No part of this document may be reproduced without express consent of beqom SA.
What do the stories tell us?
• There are common drivers for automating compensation processes
• Every company manages compensation slightly differently
• The importance of key ‘needs’; ‘must haves’ varies
• Often there are many more benefits than those first identified
Copyright © beqom SA 2013-2014 All Rights Reserved. No part of this document may be reproduced without express consent of beqom SA.
What do you get from an automated tool?
• A way to drive workforce behaviour rather than just managing it
• Transparency, security and control
Happy People