Today when organizations started to reap great values of worthy tools, cloud-based solutions are playing a role of great equalizer by providing easy and affordable solutions even for the smallest business. Oracle’s compensation offerings are helping global organizations in managing their business process by effectively aligning interdependent yet disparate enterprise populations and providing a holistic view of end-to-end compensation process for entire organization.
A workforce compensation allocation campaign starts with a vision and at the end of the process; purpose has to be achieved to call it successful. With the fusion of tools and process, you can easily demonstrate how technology can be used to satisfy increasing demand of extremely personalized and incredibly user friendly applications.
Three things that help you to make your global compensation allocation process a success are:
1. Uncover the information that decision makers have to have in the context of your campaign objectives. As everyone from top executives to line managers uses same tool, make sure that they have easy access to the information they need, where they need and when they need. In a nutshell you lay the foundation of success by providing the information your users will need before they take the plunge.
2. Persuade decision makers to move out of anchoring bias in decision-making by providing data that talk about past, present and future. Most of the people anchor on first set of recommendation as a starting point but this information can be irrelevant which can derail your whole process. You should make all the efforts to ensure that the tool provides initial recommendation as per your compensation strategy. It will not only help you to attain your goals but also help decisions makers to get rid of hardwired destructive behaviors which force them to think in certain patterns.
3. Finally, equip the tool with target and tolerance alerts which can work as an early warning system during the process. It will allow you to detect and correct any compensation anomaly on time, every time. You don’t need a human to perform check and balances, tools are invented to do it better.
These three things are simple to understand, easy to implement and practicing them produces remarkable results. Have a successful compensation campaign ahead…
Originally posted @ Oracle HCM: Modern HR in the Cloud
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