Preparing for implementation
The process through which employee earnings are calculated and remittances paid to employees and other stakeholders.
compensation administration
What is the major disadvantage of outsourcing Compensation administration?
Employer may lose touch with emerging problems and issues
Communicate information on the system is step___ of the implementation process.
5
Who conducts calculations of employee earnings and deductions paid to governmental agencies?
Payroll professional uses programmed algorithms developed together with Com&Ben professionals
Which benefit of outsourcing is achieved when vendor's staff can specialize in compensation administration on a full-time basis?
Economies of scale
When using the commuter simulation of the new system organizations aim to ___________.
Test the new compensation system
Preparing for CopmSys implementation, at which step organization must document assigned responsibilities for carrying out the various compensation processes and develop the internal process of communication for effective operations
Step2 - Planning for compensation administration
Which benefit of outsourcing is achieved when outside providers employ specialized legal and professional experts
Expertise
After testing the new system and confirming that calculations are appropriate, Com&Ben professionals should proceed with_____.
Training all the impacted stakeholders, such as managers, supervisors, administrators.