Compensation Management with HR TMS Compensation
...making Pay-for-Performance and compensation planning both simple and precise.
Effective compensation planning just got easier! HR TMS Performance is a platform that is extraordinarily nimble in data structures and work flow. With applications like Form Builder and the built-in configurability, our customers have always had some compensation management functionality, but it was nowhere as rich as our performance management chops. With this new set of technologies we are taking the lead in compensation management with HR TMS Compensation.
The HR TMS compensation tool is the only one in the industry that offers:
Companion Application to TMS Performance
With this software, HR TMS has applied the same standards of complete requirements, full utilization of existing forms, spreadsheets, business rules, and work flows and coupled it with uncompromising simplicity. Performance reviews, including 360 Performance Reviews are one-click away throughout the Compensation tool.
Like HR TMS Performance, HR TMS Compensation:
- has a user interface based on Microsoft Outlook® so navigation and interaction are intuitive
- integrates information from a number of sources, including HR TMS Performance, off-line workbooks, or a POS or HRIS system
- uses existing enterprise authentication for access control and digital signing
- robust built-in analytics leveraging all the power of Microsoft Excel® workbooks but with much more functionality including advanced sorting and sub grouping
- automated communications and work flows based on roles
On-line and Off-line modes
For organizations currently using workbooks to manage this information, no training is required. Managers will be able to use precisely the same workbooks in one of two ways:
- Work online – get instant, real-time feedback, output is instantly available to the organization and saved
- Work offline using Excel and upload workbook. Work as you always have to budget, plan, and analyze, but then integrate your work with the rest of the organization's using just one-click to up-load
Long Term Incentives (LTI)
Compensation planning has become much more intricate and nuanced. Handled properly, HR and line managers have a diverse collection of short-term and long-term incentives to offer employees to reward accomplishments, drive behaviors and support and inspire the level of commitment to the organization that is desired. But are these tools applied in a way that reinforces the large strategic goals? Do the risks associated with vesting and maturity schedules meet with the benefits to the organization?
Even the most talented of line managers lack the visibility or the contextual understanding that is required developing and applying these policies on their own. Who are they incenting to stay and how is that affecting the balance sheet?
With HR TMS Compensation, the entire management structure can have secure access to the data and business rules required for their organization. Consequently, they can then apply the STI and LTI policies necessary for compensation planning. The LTI data for each employee is made clear and accessible, with appropriate scope, to each level of management.
Features include:
- An LTI rules manager that enforces programmatic policies set by the CFO or other corporate governance
- Data collection from LTI partners with secure and appropriate access to the entire management structure
- Reporting and analysis tools
- A separate workflow and employees groupings for LTI reviews and approvals
- Secure management portal for complete line-of-sight into employee Long-Term Incentive (LTI) data, including brokerage account details, outstanding shares, vesting schedules, and trading history
- Capture corporate LTI and STI business rules and policies
- Manage corporate LTI recommendations using a potentially separate, more discreet workflow
Multiple Perspectives (Grid, Employee Row, Single Column)
Compensation Groups
In TMS Compensation, Employees are assigned to a Compensation Group so decisions can propagate appropriately. The Group details are all customizable.
- Manage Group name, membership rules, behavior, Excel® form, or any other parameter
- Managers submit one or more groups for approval
- Note: this is different to TMS Performance, where workflow is based on an employee, not a group
