Data41 Compensation & Headcount Planning
Data41 Systems LLC
Overview
The Data41 Compensation & Headcount Planning model is a framework of common components used in a TM1 deployment. This model focuses on the headcount and compensation planning areas of the budgeting and planning cycle. The application is a planning module that makes headcount, salary, and compensation planning efficient across the enterprise. Designed with pre-built components that are based on best practices, the model simplifies the planning of workforce and workforce-related expenses, such as bonuses, benefits, overtime, and merit increases. Additionally, the framework can be tailored to an individual company's policies and processes allowing them to accurately assess, in real time, the business impact of workforce decisions on the overall expense plans.
Benefits
- Real-time compensation / headcount during the budget, planning, and forecast cycles.
- Aligns payroll budgets with operational plans and targets.
- Ability to assess real-time impact of salaries and associated workforce expenses.
- Robust security so that sensitive information is available only for those who need it.
- Ability for management to define the global, departmental, and employee-specific compensation parameters (i.e. salary increase).
- The model enables the pinpoint accuracy of compensation expenses, because it is computed at the employee level.
- The solution goes beyond just calculating salary, as it performs real-time calculations for payroll taxes, 401k, PTO, and overtime for current and new employees.
- Headcount is calculated and consolidated automatically, so that management can analyze data at any organizational level.
- For organizations with employees throughout the country, payroll taxes can be easily computed for any state.
- Ultimately reduces the workforce planning cycle times.
Features
- Empowers management to analyze their compensation costs down to the employee level.
- Users can customize their output to suit their needs and see the results of their changes in real-time, during the budgeting and forecasting process.
- Robust variance analysis and versioning allows users to compare any combination of the actual, budget and forecast data. Users can enter commentary to explain the variances and/or assumptions. Rolling forecast capability and historical archiving can be used for the multi-year trend analysis.
- Salary and benefit parameters such as annual increases, bonus, 401k, overtime, PTO, multi-state payroll tax, and other rates are centrally stored and can easily be changed for any version.
- Multi-currency is available for multi-national organizations.
- Compensation can be configured for a live link to any GL model within the IBM Cognos TM1 platform. Any changes to the compensation model will automatically update the compensation and benefit accounts in the GL model.
- Payroll data is automatically loaded for up-to-date variance analysis.
- Users enter minimal inputs for new employees and all the salary and benefit calculations automatically flow through the model in real-time. No ETL process is required.
- Salary and hourly employees can be configured to calculate for a mid-month hire, for termination dates, and for 4-4-5 timeframes.
- Headcount is automatically calculated based on the salary data.
- Current Excel templates can be easily linked to the compensation model so users don't have to learn a new interface.
Architecture
The Data41 Headcount & Compensation Planning model was created within the IBM Cognos TM1 platform. IBM Cognos TM1 is the unified business performance management platform powering the application, which provides the capability for strategic analysis of financial, operational, and employee data. Additionally, the IBM Cognos TM1 Turbo Integrator ETL tool provides the opportunity to interface the headcount and compensation model with HR and payroll data, other IBM Cognos TM1 applications, or other organizational systems requiring data interchange.
Availability
For more detailed information, visit our website: www.data41.com
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