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HR and sales leaders are challenged to streamline the compensation process while attracting and retaining top talent, supporting business strategy, and maintaining regulatory compliance.
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An increasing number of compliance initiatives are changing how HR departments are managing their compensation processes.
The SEC is requiring that companies prove executive pay is directly tied to company performance. Similar requirements have already been enforced across Europe by CRD IV and Solvency II directives.
Companies are also facing internal pressure to establish that compensation policies are managed and executed in compliance with corporate policies.
In order to meet these new challenges, HR managers must guarantee compensation processes are transparent, compliant with external regulations, compliant with internal policies and tightly controlled.
So, what does this exactly mean for HR managers?
Published By: Ascentis
Published Date: Sep 28, 2010
HRIS solutions designed for very large organizations can be costly to set up and maintain, and often require the services of an army of consultants to keep them operational. Systems designed for very small organizations concentrate on either HR functions such as attendance and compensation, or on benefits management, but usually lack the ability to integrate the two areas. To be a practical investment choice for a mid-tier organization, a satisfactory HRIS solution must have its HR and benefits functions highly integrated. It must be agile so it can easily be kept aligned with the constant change in compliance laws, and it must be robust and secure, built on a tried and true platform foundation.
HR is all about serving your people, whether they are shiny new recruits or lifetime employees. But all too often, outdated and cumbersome paper-based processes get in the way of those goals.
Discover how HR departments are using electronic signatures to streamline the on-boarding experience, increase employee satisfaction, and focus staff away from mundane tasks.
Watch this webinar and discover how eSignatures can help you:
- Simplify the new hire process: NDAs, offer letters, background checks and on-boarding
- Streamline compensation and benefits: comp plans, stock option grants, and benefit plan notices
- Reduce admin overheads: holiday requests, contractor agreements, and internal approvals
- Ensure compliance: ISO compliance, new hire check-offs and audit support