Still trying to manage compensation planning with cumbersome spreadsheets and manual approval processes? Wasting time and resources sending worksheets back and forth to ensure the approved compensation data gets back into your HR system? This approach is tedious, time-consuming, and leaves too much room for error. There’s a better way.
Kronos Workforce Ready® Compensation Management, an add-on module to Kronos Workforce Ready HR, automates and streamlines the entire compensation management process. It enables you to set up compensation cycles with remarkable speed and ease — supporting annual, nonannual, cycle-based, and off-cycle merit- and promotion-based salary increases. For optimal flexibility, you can even define program eligibility and manage plans that cross multiple business units.
Define the budget for each compensation cycle using an intuitive, spreadsheet-like interface. The application supports both top-down and bottom-up budgeting processes — with appropriate approval workflows — and your choice of salary structure. Optional access to PayScale-powered salary reports from within the Workforce Ready interface lets you use up-to-date compensation data and research to guide budget decisions.
Proposed increases are automatically routed through a configurable approval workflow — and automated alerts and reminders keep the process moving forward. Security controls let you determine at each step in the process who can access specific information and functionality and who has override privileges. And a “mass-finalize” function makes it easy for HR or compensation managers to review and approve increases for all employees without having to drill down into each proposal.
Kronos Workforce Ready Compensation Management is part of the fully integrated, cloud-based Kronos Workforce Ready suite that delivers the complete automation and high-quality information you need to manage your workforce — from pre-hire to retire — using a unified workforce management platform with a common user interface, database, and workflows.
Workforce Ready Compensation Management integrates with Workforce Ready HR to simplify the entire compensation management process — from defining programs and guidelines through budgeting and modeling to routing proposals for approval. Seamless integration with Workforce Ready HR reduces error-prone data entry, provides access to employee information, and helps improve data consistency.
Reduce administrative burdens with automated tools and workflows
See more clearly into all phases of your compensation planning
Enforce compensation guidelines automatically
Allocate increases in alignment with corporatewide compensation strategy