Features of the GreenLight
Compensation Management System
GreenLight makes it easy to transform the compensation process into a motivating experience for all involved. This incentive management system enables you to interface with corporate human resources information systems (HRIS) and financial systems. Salary matrix management gives managers a tool to allocate merit, bonus, and stock pools, as well as one time bonus exemptions for people in top salary ranges. Managers can also access historical information on employee appraisals, assessments and performance. Because managers get a consolidated view of compensation pool allocation, direct reports, and all employee performance data, they are empowered to make the best compensation decisions possible.
Make the link between employee performance and compensation!
With GreenLight's Web-based employee incentive software, the link between performance and compensation can be established simply, fairly, and effectively. Some features of the GreenLight compensation management software include:
Security controls to ensue proper access of confidential compensation data
Automated reminders to ensure on-time completion
Load an established set of corporate targets easily into the system, which can consist of a bonus pool, merit increase pool, and/or stock pool
Establish bands of payout guidelines tied to performance ratings. Bands of payout guidelines can be strictly enforced or be used to auto-allocate the initial pool amount as a starting point for managers. Allocation is faster and more closely aligned with corporate guidelines
Distribute pools of compensation types throughout the organization with flexibility to use either whole amounts or percentages
Allow managers to easily allocate pools within a group of individuals and validate that the employee's performance appraisals support the allocation
Flexibility for managers to adjust allocations to ensure the overall pool target is met
Modify a performance appraisal to ensure changed allocations are supported by valid appraisal results
Support for merit bands to ensure compensation aligns with corporate standards for a particular job, position level, and performance metrics
A negotiation workflow can allow for compensation pool approval loops, including pool additions and allocations
Allow for spot awards in lieu of promotions where corporate guidelines do not allow for a typical merit increase
