September: the end of summer, the beginning of fall. Endings and beginnings. A lot going through your mind as a professional, a parent, or a student. At any given moment, fifteen bubbles float on top of your head – each bubble containing its own subset of bubbles. A hundred plus thoughts floating around. How do you break through the noise and accomplish anything?
Stop – breathe – take a moment to break down a bubble – and get started. No matter what the task at hand, it helps to break down the bubble – to simplify it – and to move forward. Life Happens – Simplify.
Here at MorganHR, Inc., we help companies solve HR problems, and build for the future to help optimize the use of technology and analytics in your decision making. Whether you need the assistance of our MorganHR Consulting group, technology to simplify and make data-driven compensation decisions with SimplyMerit, or the assistance of one of our Partners, we’re here to help you “break down your compensation bubble” into smaller working elements. A productive fall turns into a productive year-end, setting the course for a productive new year.
Simplifying compensation so your greatest assets – your employees – are appreciated.
Showing your employees you value them comes in many forms: caring about their time, respecting their talent, and rewarding their effort with merit and bonus incentives. SimplyMerit is here to help. Let go of time consuming, error-prone spreadsheets and provide your managers with a simple, yet powerful compensation management application connected to your HRIS/HCM.
Breaking down the compensation bubble into a handful of bubbles typically goes something like this:
- Market Data – Gather data to help price jobs and gain insights. Did you know one of our Partners offers a FREE Version to get started on this process: Check out Payfactors Free.
- Budget – Work with your upper management team to formulate the budget.
- Goals – No matter the size of your company, it is important to set clear goals to drive a sense of community, an overall plan, and measurable results. Typically this starts at the top and cascades down with effective communication and collaborative teamwork driving results. Determine the hierarchy of goals for your company, divisions, departments, managers, and individuals.
- Performance – Establish expectations and parameters to measure outcomes. Whether you utilize a tool for this or not, the process must occur in order to measure performance. Some organizations utilize scores, others do not. Either way, you must have meaningful conversations to promote overall team effort and drive effective results.
- Training – Ensure your managers are equipped to lead their teams with effective communication, and with an understanding of how to utilize the data you gathered for accurate, relevant decisions.
- HRIS/HCM – Utilize this as your system of record. Still choosing a system? Let us know, and we’ll help you find a good fit. SimplyMerit is compatible with any HRIS/HCM, however we do have integration partners to make your life easier.
- Compensation Management (Merit and Bonus) – Evaluating technologies can take time, but if you utilize a cloud-based application like SimplyMerit, it will save you time and simplify the compensation process while eliminating errors. Focus on strategy, not spreadsheets. Whether you have 50 or 15,000 employees, simplifying the process is never a bad idea and helps eliminate compliance concerns at the same time. Hear what our customers have to say and schedule a demo before the “Fall busyness” kicks in.