When we first developed our compensation software, we expected it to be used to produce year-end benefit statements or recruiting tools. However, our focus group research identified an additional value to COMPackage compensation software – annual performance reviews.
If you want to create performance reviews with your compensation software, you’ll have to work a little differently than you would if you were creating year-end benefit statements. Instead of providing the past year's value as you'd do in year-end reports, you’d prepare this report on a pro forma basis using last year's data to build out next year's annualized outcome.
The management objective is clarity and motivation. By handing your employee something tangible, you’ll be able to better communicate your other management messages. The compensation statements also include a salutation area perfect for communicating desired objectives (MBOs). Let this report be part of your communications tool. It's not just what you pay them; it's how much you compensate them in total.
Don't miss this opportunity to communicate, especially since this secondary use of your compensation software is available at no extra cost! Download your COMPackage software today.