F+-+e-Comp&Benefits


 * __e-Compensation & Benefits__**

- Pay Surveys and Job Evaluations are tools used to make appropriate compensations decisions. - Pay Survey - What is industry/region paying for particular job? - Job Evaluation - A description of a job and any of it's outstanding qualities.
 * __Compensation__** - the wages, salary, profit sharing, stock options, etc. an employee earns for working for an organization.

//Three Ways to Maintain Equity:// 1. Internal Equity
 * Goal is to make information easily accessible at any given time
 * Pay differences should be in accordance with differences in responsibility.
 * Time consuming and challenging process.

2. External Equity
 * Pay must be comparable throughout the competing companies in the industry
 * Recruiting may become difficult if pay does not measure up to industry standards.
 * Systems provide managers with information at any given time regarding internal and external pay rates.
 * Challenges include the appropriatness of the information and how quickly it can be integrated across internal and external systems.

3. Individual Equity
 * Employees should feel that their pay rate is equitable to those that hold similar positions in the organization and even the industry.
 * Organizations are fully aware of the information that is required to regarding pay rate, pay structure, and compensation.
 * PeopleSoft HRIS and Kadiri are two good examples of integrated work systems.


 * __//e-Compensation//__** - Software tools that allow managers to effectively design, administer, and communicate compensation programs.

Advantages of e-Compensation: 1. Provides around the clock access to compensation information without the use of IT personell. 2. Can sreamline bureaucratic tasks through the use of workflow functionality and real-time processing. Diadvantages of e-Compensation: 1. Systems do not allow for and integrated assessment of internal and external equity. 2. Can only be as good as the data possessed by the organization. 3. Unclear on final decision maker. 4. Limited functionality

//Strategic issues in e-compensation: Keys to Success// Managers must make clearly communicated compensation decisions supporting organizational success. Having a proper strategy will cost cost and help build and embed compensation policies into software. Communication is also very important because it provides increase access to information, more timely information, and more effective utilization of that information.

The major goal of e-benefits is to provide what is needed, when its needed, in the simplest, quickest, most intuitive form possible. The most important thing to remember is that it's all about the information. In order to improve you system you must: - Organizer you information by life events, work, and by activity.
 * //__e-Benefits__//**
 * Determine who will use the system
 * Determine what questions these people ask
 * Determine how you can attract people to the system
 * Follow the STAR guildlines
 * STAR**
 * S**tate goals and metrics clearly
 * T**ie your metrics into a timeframe
 * A**lign metrics with your organizational goals
 * R**ealistically determine when these goals can be accomplished