HUMAN RESOURCE INFORMATION SYSTEM: WEB FOLIO 3 : WEB BASED COMPENSATION AND PLANNING

TOPIC 3:

WEB BASED COMPENSATION AND PLANNING

Hello everyone. Today I want to share with all of u about my reflection in Web Based Compensation and planning. Last week, my friends present in class about this topic. When we talk about compensation, we will remember that it consists of three that is compensation in term of fixed compensation, variable compensation and stock compensation. What it is??

From my understanding, fixed compensation something are rewarded for KSA to perform job such as bonuses, pay wage, promotion, merit increase and so on. This paid for employee for performing specific task responsibility.

Second is variable compensation that is plus to the fixed part. It given in term of accomplishment in certain goal and results. For example commission, individual and group incentive plan, profit sharing plan, recognition award and so on. In simple word, if we perform better, it will give more also.

Lastly is stock. What I understand. It give an opportunity to employee buy stock or product and it shows appreciation from organization to the employee. Example of stock that I learn in class is restricted stock, stock grant, stock options and so on.

Other than that, in web based compensation and planning, it used for eight applications that is payroll, salary surveys, salary planning, job evaluation, incentive plan, benefits management, relocation services and compensation consultant. I will explain between salary surveys and salary planning. For your information, the different is when in salary surveys, it find and gain the information and the standard that required such as wages while in salary planning we planning the performance of workers to give more merit in good performance.

In simple word, this web based compensation and planning give the advantage in term increases the effectiveness of the accurate information. The example all the information are save properly and it always up to date the information. Other than that, I see the changes from using the evaluation form we determine the compensation given while now in web based compensation and planning, it record all the evaluation and others record that it related in giving compensation. It shows very fairness and measurable.

I more thing, don’t confuse between compensation and benefits. Because compensation earn income for work performed such as wages, salary. But for benefits, it a benefits for cash and non-cash reward included wellness program, pension and others.

I hope u all can understand from my simple explanation. And in Hr scope, this system very familiar with the employee as well. The web based compensation and planning is the system to attract, retain and motivate employee to become good workers. When this topic combined with explanation and picture with system, it become more interesting.