Incentive Calculation & Payment
Raising performance without the headaches
Incentives invariably raise productivity, reduce labor costs and improve workforce morale and retention. So why don’t more companies use them?
Tracking performance won’t do much good unless you can compare it to well-defined methods and standards.
The potential headaches of tracking incentive-eligible performance, calculating correct incentive amounts, and getting them paid on a timely basis has kept many companies from using incentives in their performance improvement strategies. But those difficulties can easily be overcome.
RedPrairie’s Incentive Calculation & Payment application automates incentive data capture, calculation and payment to take the headaches out of using incentives, so only the benefits remain.
Since Incentive Calculation & Payment is an integrated part of RedPrairie’s Workforce Management suite with its Performance Tracking capabilities, incentive data capture is a natural byproduct of operations. This data is subjected to company-defined rules and government regulations to calculate incentive pay for individuals and teams.
Gross incentive pay is reviewable by managers online for adjustments and approvals. Incentive pay detail is kept historically for use in retroactive pay calculations and other adjustments. Final incentive pay amounts are interfaced to your payroll system to be incorporated into normal pay processes. Results are accurate, defensible, and readily acceptable to unions.
With RedPrairie’s Incentive Calculation & Payment, you can improve workforce performance without adding administrative burden.