What can SMS do for you?
Streamlining your company's salary administration process can be a challenging task without the proper tools by which to store relevant data in one database. SMS provides an effective solution to this problem, integrating easy-to-use data analysis tools with a consolidated database in order to facilitate quick access to the information you need to make sound salary management decisions.
SMS features:
- Online and Web-based Salary Planning Module
- Windows "Wizard" Functionality
- Electronic Survey Data Management
- Sophisticated Market Analysis Tool with Batch Pricing Feature
- Custom Fields
- Multi-Level Security
- Linkage to HRIS or Payroll System
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Have you given up on trying to track job duties/tasks or competency based attributes?
Maintaining information on jobs, whether incumbent or job-specific, is becoming more important with the automation of performance management and with the flattening of corporate structures. Having a tool to formalize job duties/tasks or competency-based attributes provides an advantage to compliance, development and assessment processes within the HR function. Providing access to this information is a helpful management tool in the pricing, evaluation and salary planning processes.
- Unlimited performance criteria inventory capabilities -
more
- User-defined requirements via customizable lists
- Quick-list view of applicable employees - more
- Customized formatting of job documentation via the custom report writer
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Do you have an effective means to link your jobs to the market?
Linking a company's jobs to applicable market surveys is often a process that has to be repeated annually when new survey data is published. SMS' unique Benchmarking tool gives users the capability of performing a one-time map to the market that remains in place as long as your job doesn't change.
- The benchmarking system catalogs survey data based on functionality - more
- Mapping process enables quick access to survey data
- Capsule descriptions from the benchmarking system can be used to form basic job descriptions - more
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Are you tired of juggling surveys every time you want to calculate the market rate for a job?
Market pricing can be a rather cumbersome process when you have to rely on multiple sources of survey data. And once you determine the data you are going to use, you then must create spreadsheets to house the data, develop formulas for weighting and aging the data, and hope that you don't have to add data to the spreadsheet that will invalidate your original formulas. SMS' Market Data Management tool provides a simple way to manage and manipulate survey data in order to determine market competitiveness. It also provides an excellent platform for outsourcing some or all of your market data collection process.
- Capability of storing an unlimited number of surveys
- Electronic survey data library lends itself to using more survey sources - more
- Built-in weighting and aging functionality eliminates the need for developing your own formulas - more
- Auto-pricing feature enables you to price multiple jobs at one time
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How do you determine values for jobs for which there is no market data?
In this age of highly technical and specialized jobs, it is often difficult to find appropriate market data to value these key jobs. As a result, these jobs are sometimes overvalued or undervalued, because you do not have adequate systems in place to accurately equate these jobs to their market priced counterparts. With SMS' Measurement tool, users have the capability of quickly and easily determining the relative value for non-market priced jobs.
- PeriscopeIQ's proprietary Factor Evaluation System (FES) provides users with an empirical approach to comparing jobs and determining relative value
- Visual scoring tool makes evaluating jobs easy - more
- Evaluation point totals from other systems can be integrated into SMS' other tools via the Measurement tool
- Measurement profiles can be used to assign jobs to salary ranges - more
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Are you managing pay based on out-of-date salary structures?
An ongoing responsibility of a compensation group is to maintain competitive pay structures that are in line with the market and the company's pay philosophy. So often, however, pay ranges and/or band zones are not frequently updated to reflect the market because of the time it takes to manage the update process and apply the revised ranges to employee salaries. With SMS' Valuation tool, maintaining and updating structures is easy, freeing up valuable time that can be used to analyze the cost impact of the updates to the organization.
- Multiple structures can be maintained - more
- Regression analyses can be conducted with market results and internal points
- Graphs can be generated displaying how employees fit within their assigned grades - more
- Structures can easily be copied and adjusted for use in cost/impact analyses, with all appropriate cost documentation provided
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Are you managing your increase planning process or is it managing you?
Managers need tools if they are going to be expected to effectively deliver pay to employees. The individual spreadsheet approach just does not provide managers with the information necessary to make informed decisions about employees, especially in light of budget constraints and market pressures. Salary Planning in SMS offers unique modeling capabilities and relevant data to managers at the click of a button in order to develop meaningful ways to deliver pay.
- A robust modeling tool may be used by the compensation group for planning increase amounts prior to manager administration and approval
- Multiple increase guidelines can be developed and tracked within a salary plan
- Increase-specific budgets can be set and monitored during the course of the planning process - more
- Managers can access employee information via the Web-based approvals tool and complete a performance appraisal online prior to recommending an increase - more
- Allows managers selective access to incumbent data such as salary increase history and performance ratings
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