Award-Winning Provider Responds to Market Trends and Client Requests with Compensation Enhancements
MELBOURNE, AUSTRALIA – June 6th, 2011 – Leading Talent Management solutions provider, PageUp People, today announced its latest product release, which adds compensation functionality to its performance management system.
With this latest offering, PageUp People integrates compensation with its performance management module to enable line managers to grant annual merit increases as well as allocate bonuses and stock options based on company policies and guidelines. Having these capabilities coupled with the performance processes enables organizations to effectively correlate the impact of compensation on high performance.
According to the latest compensation planning and analysis research bulletin from Bersin & Associates, “Getting Compensation Right: The Value of Compensation Analysis and Planning Tools,” more than 90 percent of performance and talent management software applications are not integrated with any form of compensation management solution1. As a result, HR is spending more time on program administration than analyzing data to effectively support their people strategy.
With PageUp People’s new functionality, managers can prevent compensation budget overruns by allocating increases and bonuses more effectively and reduce flight risk by rewarding high potentials and top performers.
“Compensation modules have traditionally been the least deployed of the talent management applications because compensation practices differ based on an organisation’s culture and pay philosophy,” stated Karen Cariss, Global CEO, PageUp People. “Recognizing that compensation is a critical component in attracting and retaining talent, PageUp People has responded with a flexible solution that automates and streamlines compensation planning and can be tailored to support each organisation’s unique pay practices. Integrating compensation planning with the performance system will support an effective compensation program and drive bottom line results.”
Bringing compensation technology into the performance management suite helps guide busy line managers through each stage of the process, ensuring standardization and reduced risk. PageUp People’s combination of its leading Software as a Service (SaaS) solution and best practice talent management consulting practice provides a foundational platform so that effective individual performance discussions can achieve intended business results.
PageUp People’s Performance Management solution allows an organisation’s employees to benefit from clear objectives and ‘no surprises’ performance reviews with remuneration linked to performance. More information about PageUp People’s Performance Management solutions can be accessed here.
1 Bersin & Associates, Research Bulletin, “Getting Compensation Right: The Value of Compensation Analysis and Planning Tools,” 14 April, 2011