Mark Smith's Analyst Perspectives

New Generation of Compensation Software Enhances Human Capital Management

Posted by Ventana Research on May 9, 2016 12:09:04 PM

Compensation management is a key activity for engaging all employees and thus for human capital management. I discussed this connection in my perspective on unifying human capital management. In a further step in that direction, I am excited to announce the launch of our next-generation compensation management benchmark research. Determining and providing the appropriate compensation for each person, whether it involves base pay, merit pay, variable pay and incentives or bonuses, or a combination of these, is critical to being able to attract and retain productive members of the workforce – full- or part-time employees, contingent workers and contractors alike. Incentive compensation tied to objectives often is critical in business areas such as call centers, sales and field service. The complexities of compensation make more difficult the core challenge faced by human resources departments: keeping employees productive, satisfied and motivated.

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Topics: Human Capital Management, HCM, Compensation, Total, Uncategorized