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Compensation Rewards

Expectations of Compensation rewards and performance will remain the only constant across time and space in the performance management domain.

 

Incorporating the best practices of Compensation rewards, GroSum’s solution provides a platform for

  1. budgeting for increments and bonus by business units,
  2. setting rules for compensation rewards,
  3. allowing Manager recommendations & Moderation,
  4. finalizing and communicating rewards through official documentation

 

Boosting performance for over 10 years, GroSum has identified & adoped your key needs on Compensation rewards to define the following critical commandments of our offering

Key Features

Compensation Rewards Feature 1Overall Budgets for increments/bonus payout be set upfront

Rewards should have a dependant relationship on performance and thus, the pie of rewards should be distributed accordingly.

 

With GroSum, budgeting for increments and bonus can be done at a company, department or business unit level.

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Compensation Rewards Feature 2 Rules be defined for rewarding increment/bonus

Rewards can be no longer unilaterally doled out by Management – there should be fairness in how increments and bonus are awarded.

 

With GroSum, rules can be defined for increments and bonus payouts. Such rules can be linked to both the budget and salary levels business-unit wise.

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Compensation Rewards Feature 3 Managers be involved to recommend increment & bonus

Performance is not always a function of skills and hard work. Thus, an unbiased human opinion helps to provide perspective on who actually deserves what.

 

With GroSum, Managers can be allowed to recommend increments and bonus payouts within budget limits that can be approved by multi-level Moderators after verifying fairness of recommendations.

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Compensation Rewards Feature 4 Finalized rewards be communicated through official letters

Compensation is a sensitive matter and organizations should ensure that any communication on rewards be formally done and recorded.

 

With GroSum, official letters on increment and bonus can be customized and issued electronically to employees once increments and bonus payouts are finalized.

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Power your compensation rewards program with GroSum