The costs associated with employees likely represent your largest single operational expense. And direct compensation typically accounts for 60% to 70% of this cost. So how can you have full control over all your compensation planning needs, allowing you to better manage this process by making better, more informed decisions?

The answer is simple:  turn this common operational expense into a competitive advantage with more strategic compensation management. All you need is TalentScope’s Compensation Management process, which is integrated with the TalentStudio talent management software suite.

TalentStudio solution

TalentStudio provides you with real time management and analyses of your compensation plans. You can configure TalentStudio with security options that enable any level of management to access their team’s compensation data. Plus you can decide if they are enabled to modify, view, report or analyze elements of pay. With this level of configurability for example, you can provide a single manager reporting to you with the ability to manage their people, but retain the ability to directly manage your other employees. TalentStudio also enables you to:

• Create any number of different processes for any number of employee groups
• Keep compensation management distinctly separate or marry it into a single-process performance review cycle with your pay planning process by employee group
• Perform pay equity analysis to highlight potential system and assessor bias
• Track all elements of pay to analyze your investment into your critical workforce
• Combine any pay element with reports, analyses, succession charts and/or organization charts for a quick determination of appropriateness and effectiveness of your pay philosophy
• Compare against market index, compa ratio and/or historical trend factors

Regardless of your compensation management needs, TalentScope has the right solution for you. Most of our clients find that the standard compensation management process fits their organization well, but some require a higher degree of flexibility and functionality. We have a solution for that too. CompStudio is an expanded featured compensation and salary planning solution that can be implemented as a standalone package or integrated into the TalentStudio suite.