WEB BASED COMPENSATION AND BENEFIT PLANNING

The compensation and planning is about managing the personnel expenses budget, setting the performance standards, setting the transparent compensation policies and introducing the competitive benefits for employee. The organization with effective compensation and benefits drives its personnel costs, manages the performance of employees and rewards the extraordinary performance.

This website has become a trend where almost every organization applying this system to prepare for salary planning budget and the level of salary increase to be paid based on the merits of each employee's performance evaluation, bonus allocation experience, and equity awards. The main purpose of this system is to bring the needed information to those who make pay decisions quickly, accurately, and in useful form because this system provides up to data information. Moreover, it provides proper, efficient workflow according to procedures and external compensation survey data.

The main advantages of web applications is 24/7 access. Users can access the program using a standard web browser anywhere and anytime they want without going to the office just to get information on compensation, salary and update their personal profiles. Employees can view their pay and benefits information and update their personal profile at home or even at vocation. Compensation based on seniority with the company shows that the organization appreciates employees' achievement and opted to stay with the company for the long term. This encourages new employees to continue to build their career in the organization and prevent workers from switching to another company.

Besides that, it can save time for HR staffs do not have to spend a lot of time to answer all questions asked from the employees. This is because every employee can access the HR department through the web provided includes current information about compensation policy, program description, an explanation of qualifications, new forms of compensation, and answer questions on the Web.

Each organization must develop a compensation strategy and practices that fits its circumstances. Compensation program is not the total responsibility of any one group in the organization. Top management must be involved in establishing the goals and policies of compensation. The compensation staff provides the expertise and can do the technical aspects of compensation. The supervisors are the people who see that the system is perceived as fair and motivates their employees. All three must be working together for a compensation program to achieve its goals.