"Organizations that aren´t able to properly tie performance to compensation are likely short-changing their top-performing employees as well as their organization when these star players move over to the competition," said Kevin Rhone, senior vice president and general manager of Workforce Management at Workscape. "By automating performance and compensation management, organizations are equipped to build a more productive, motivated workforce that is aligned with corporate goals and creates competitive advantage."
The report includes several key recommended actions, two of which are that technology enablers are needed to automate support for performance management and compensation, and that organizations should use variable compensation everywhere possible to share responsibility for corporate performance at all levels. In fact, the research found that more best-in-class companies use variable compensation for their top performers and that, enabled by automation, these companies gave 64 percent of all pay raises to high performers. Workscape´s suite of integrated, Web-based workforce management applications is designed to provide managers with the tools and information they need to manage pay and performance throughout the year. The company´s OneForceTM suite enables complete pay-for-performance solutions that drive the most effective use of compensation dollars and higher workforce performance across the enterprise.
Workscape´s OneForce/Compensation PlannerTM is an on-demand solution that drives higher workforce performance by aligning rewards with employee performance. The solution features robust planning, analysis and reporting tools to handle all phases of the compensation process, including planning, execution, and ongoing management throughout the year. OneForce/Compensation Planner supports multiple compensation elements, such as base pay, bonus, and stock, and provides HR, managers, and executives with real-time, strategic reporting on pay trends.
"This report validated what Workscape has long known - that best-in-class companies benefit from technology-based automation of their employee management initiatives," noted Rhone. "This approach enables organizations to quickly and easily link compensation and performance management to adequately track, reward and retain their most valuable asset - their employees."
The AberdeenGroup report can be accessed prior to June 30, 2006 by visiting http://www.aberdeen.com/link/sponsor.asp?spid=30410281&cid=2857
About AberdeenGroup
AberdeenGroup, Inc. provides fact-based research and insights focused on the global, technology-driven value chain. Aberdeen´s benchmarking, market and solution assessments, sales acceleration programs, and conferences support Global 5000 value chain and technology executives -- and the solution providers who serve them. For more information, visit www.aberdeen.com or call 617-723-7890.
About Workscape
Designed for the workforce, Workscape's solutions transform the delivery and adoption of HR services across the enterprise to maximize ROI and enable a higher-performing organization. An innovator in HR self-service, Workscape provides a full range of outsourced HR solutions including benefits administration, compensation management, performance management, employee and manager self-service, an employee portal, HR service center, and data center and network management services. Workscape's applications and services are configurable to support each client's unique business processes and are easily integrated into multi-vendor environments to ensure protection of existing technology investments. Workscape's award-winning solutions have been embraced by millions of employees worldwide. For more information, visit the company website at www.workscape.com or call (888) 605-9620.
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