Comprehensive Compensation (CoCo)
CoCo streamlines salary planning by reducing the time, resources, and costs associated with the completion of this process. By assisting organizations with a reduction in time and financial commitment, it allows all staff members involved in the process to be more productive in the allocation of time for other activities that impact a company's bottom line.
Why Use CoCo?
CoCo reduces the time spent on Salary Planning from months to days. Throughout the salary planning process HR has the ability to maintain control by adjusting the system administration settings applying to the organization's current business rules. The burden of data extraction and recombination is eliminated with the use of CoCo. Items such as data analysis often requiring timelines measured in weeks could be retrieved in seconds. Managers would have an easy to use tool, enabling them to access key employee information throughout the year without the involvement of HR personnel.
CoCo provides opportunities for businesses to alter the circumstances directly influencing the resources which affect the loss or gain of time and money. In providing these two elements, companies are given an opportunity to maximize staff resources and allow their employees to continue doing what they do best…managing and promoting organizational effectiveness.
HR often has the responsibility of overseeing a process where employees are awarded compensation adjustments. The adjustments may come in the form of salary increases, one-time cash bonuses, promotions, stock and stock option plans. Though HR needs to empower managers to perform the salary planning process for employees, they must ensure the organization’s business rules are enforced and confidential information is safeguarded.
Intuitive and easy to use
Single point of Communication and Control
Point and click interface
Real time budget calculations
No spreadsheets required
Secure movement of confidential information
Intuitive user interface — everything is at most 3 clicks away