Saba, a leader in cloud-based intelligent talent management, has announced availability of Compensation@Work, a predictive solution for simplifying and personalizing the employee salary and incentive pay process.
The Saba solution uses predictive analytics algorithms to surface hidden indicators, or “signals,” of the value, engagement, and cost of team members.
“Compensation@Work sifts through dozens of signals in your business to net out the intersection between pay, value and risk and then recommends pay and incentives for the people driving your business. Strategic compensation doesn’t have to be complex, but it needs to be right,” said Saba Chief Technology Officer, Hemanth Puttaswamy. “Compensation@Work is both simple and sophisticated; it is to incentive pay what TurboTax is for expediting tax filings. “
Compensation@Work provides functionality including:
- A comp plan-building wizard that makes the plan creation process more straightforward for administers at various levels of expertise. Built-in “What if?” budget creation tools, analytics, and best-practice worksheets inform budget strategies.
- Analytics algorithms identify high risk/high value individuals and then provide concrete and personalized recommendations, comparing the real cost to retain versus replace them. Access to this data makes it possible to be proactive about retention strategies. Salary and incentive recommendations can be compared at individual, departmental, and company-wide cost levels.
- User friendly worksheet configuration includes a built-in advanced rules and formulas builder. Compensation administrators can access and load external data from multiple sources for big data-based audience segmentation and worksheet configurations.