Compensation management that supports higher performanceLinking compensation plans to employee performance is difficult, especially for companies using manual processes and complex spreadsheets. Without an automated and integrated compensation management system in place, managers are required to enter data that never gets used. Without any real insight into performance, market or historical compensation information, merit-increase decisions become subjective, based on who managers might ”feel” deserves it — without any tangible tie to performance. When this happens, employees don’t understand their value to the organisation because it’s not clear how merit increases and bonuses are determined. Overall, the whole compensation management process can take its toll on engagement.
With Saba's compensation management software, the process is simplified for everyone, and you can create a strong pay-for-performance culture based on objective, fair employee incentive plans, and transparent processes that align rewards directly with performance.
Finally an effective way to connect pay to performance
Saba’s compensation management solution provides managers with better support for decision making and empowers them to effectively use budgets to recognise top performers, while adhering to compensation guidelines. Leveraging easy-to-use dashboards, managers can get detailed information about each employee in the system, such as comps-ratios, past appraisals, market data, goals, development plans, notes, guidelines for pay adjustments, and more. It can also show a manager a score rating the employee’s value to the org, the risk of the employee leaving the org, and whether or not that employee is being paid fairly.
Workflow and Notifications
An automated workflow lets you route all incentive and compensation plan adjustment tasks and approvals to the right people with timely email reminders that keep things on track.
Improve compensation management with budget planning capabilities. With Saba, you can easily build compensation plans within the guidelines of your agreed upon budget and corporate guidelines. Saba's compensation solution can handle multi-national and multi-currency budgeting and forecasting, within the single platform.
Create compensation formulas based on any field or criteria defined by you, including data from within Saba Cloud, such as any performance or talent data; or from outside of Saba Cloud, such as sales, finance, or customer satisfaction metrics and more. Saba's system will then automate the calculation process of these formulas, providing greater accuracy and transparency into how employees are paid.
The Intelligent Mentor
Use Saba’s AI capabilities - ”The Intelligent Mentor” - to help you identify employees at the intersection of high performance, retention risk, and who are paid below or above target, compared to market and peer compensation data. TIM also offers personalised suggestions for corrective compensation actions designed to reduce the risk of attrition and to retain your top talent, all while considering the costs involved for your organisation.
Reporting and Analytics
Get real-time reports for processes underway, let managers view their budget distribution summaries, compensation summaries for each employee, and compensation histories for handy reference. Compensation administrators can also analyse compensation data and pull reports to help stay in compliance.
After hating the merit pay-increase matrix for 25 years, imagine my delight in seeing that Saba plans to debut a big data and machine-learning product that encourages you not to treat every employee the same, tells you who needs to be treated differently and even indicates how much the good ones may cost to keep them from leaving.
— Bill Kutik, HR Technology Columnist and Co-Chair Emeritus of the HR Technology® Conference