We also already cover about the web based compensation and
benefits planning. According to (Bidgoll, 2004) compensation has been defined as all
direct or indirect payments to individuals. In this topic the information that
we got is this web based is used for organization for pension, insurance,
payroll and so on. From this topic, I also discovered about the components of
online compensation systems that can divided into two; fixed compensation such
as merit, promotion specific KSA that employees need to perform a job and
variable compensation which is including the bonuses, commissions, performance
shares and variable merit. According to the (Susan E. Jackson, 2012) merit pay are lies
on employees’ yearly rises. For the online benefit system, their components is
for pension plan, workers’ compensation, insurance, medical and health benefits
and paid time off.
There are also have the changes of using the web based in
the compensation and benefits planning from the old version. The changes that I
can list are real-time monitoring. If the organization using the web based
related, it will helps the managers easily to visualizing the whole progress.
Second is dashboard view. This can be helps because they can see the overall
budget and target with entering the values guidelines in quick reference table.
Third is easy to use excess control planning worksheet through viewing into the
visual compensation data, improve budgeting, and reduce errors. Next is own
unique set of guidelines for allocation. This can be beneficial because it not
only in base pay decision but also in numerous variable and pay incentive
components. Lastly is the web based is provides online access to and secure
storage.
From the presentation also, I can state the advantages of
using web based compensation and benefit planning in the organization. The
advantages are enable the planning and budgeting of the employee salaries and
also any increase in their payment of their wages, improve the effectiveness of
the accurate information, provide extensive reporting and presentation for top
management, streamline the compensation cycles or planning, and empower
managers at the organization to pay for the top performer.
There is also having the disadvantages if the organization
implement the web based compensation and benefits planning in their
organization. The disadvantages are this kind of the system does not have any
disadvantages yet. It has reduced some of the task of the human resource
workers and helps them in planning and recording the data about the
compensation plan. Web based also one of the ultimate technologies that the
human resource does in their daily responsibilities like record data and
processing all the human resource activities.
Bibliography
Bidgoll, H. (2004). The Internet Encyclopedia.
New Jersey: John Wiley & Sons, Inc.
Susan E. Jackson, R. S. (2012). Managing Human
Resources. USA: South-Western Cengage Learning.
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