Getting Year Round Value from

your Compensation Solution

Ruth Thomas Curo Compensation

COMPANY HEADLINES

• Operational at the start of 2010. London and Edinburgh based.

• SaaS base solution for compensation management :

o Annual comp review

o Comp reporting, modelling and budgeting

o Comp market data analysis

o Consolidation of all comp related data

o Compensation Letters

• Live clients covering over 50,000 employees in 45 countries with 35 different currencies.

All referencable.

• Emerging comp solution of choice for the leading Talent Management solution providers

o Reseller deal with HRsmart

o Global referral deal with NetDimensions.

o Technology license deal with one other global TM solution provider

REFERENCE CUSTOMERS

COMPENSATION SOLUTION ADOPTION RATES

“Compensation adoption is generally thinner than other component adoption…. This is because many organizations have complex compensation processes, and because most vendors haven't really developed the required flexibility.”

Magic Quadrant for Talent Management Suites March 2013

“Research shows that spreadsheets are still the primary tool for compensation planning in one out of four (26%) organizations and used often by an additional one-third (35%)”.

Ventana Research Total Compensation Management Software 2014 Value Index

BUSINESS CASE WHERE TO START?

Operational Efficiency“Companies get 20% savings on HR headcount on admin and support

of compensation with usage of technology enabled compensation.”

PROCESS GAINS

• Delivers an annual compensation review cycle that is much

simplified, underpinned with both consistency and transparency

• Rigorous governance in line with reward policies

• Provides absolute confidence in complex compensation

calculations and the underlying data integrity

• Key-man dependency has been removed, budget over-runs

have been eliminated and there is consistency in compensation

recommendations between Line Managers

• Reduced administration and increased confidence in data

integrity

Budget Control

GovernanceData

SecurityConsistency Visibility

HERE’S WHAT OUR CUSTOMERS SAY• “Made budget allocation and management so much easier and automated the roll-

up process which was a huge challenge with spreadsheets” – Towergate

• “Huge reduction in errors in review process and provided great flexibility in internal benchmarking as well as being able to demonstrate absolute alignment of pay with performance” - SMBC

• “Reduced administration and increased confidence in data integrity and ease of access to data that prior to this implementation needed IT resource and time to extract. Now we do it ourselves” – Old Mutual Wealth

• “Made the comp review process more robust, managers can model different combinations of options before submitting and embedded comp letters, which were always managed as a separate process.” Clifford Chance

• “Much improved user experience and all the issues Internal Audit had with the spreadsheet related processes have gone away” – Old Mutual Group

• “Reduced risk, improved operational efficiency, real-time workflow control and no chasing spreadsheets” – Markit

• “Guaranteed Line Managers adhered to budgets and having all comp data in the one place was a real plus” - BUPA

C SUITE APPEAL

“You’re asking me to invest

in something that I’m only

going to use for 3 months

for the year and makes

your life easier?

I don’t care - there are

bigger issues in the

business and really it is

just your job!“

OPPORTUNITY COST & HR VALUE ADD

• Poor line manager capability to manager performance

and reward messages

• Reward Managers need to upskill to become fully

contributing business partners

• HR needs to become more of a business enabler and

needs to provide a talent strategy to effectively support

and enable business strategy

HR AS BUSINESS ENABLERS

• Understand the true cost of people to the organisation

• Demonstrate how compensation awards are aligned to an employee performance

• Present performance, compensation and benchmarking data in a meaningful way to senior executives

• Access all compensation and compensation related data from within a single database and easily run analytics against data that is always current

C SUITE APPEAL

“You’re asking me to invest

in something that I’m only

going to use for 3 months

for the year and makes

your life easier?

I don’t care - there are

bigger issues in the

business and really it is

just your job!“

BUSINESS CASE : YEAR ROUND VALUE

YEAR ROUND ACTVITIES

Formulate strategy Analyse current success and alignment to business goals

Design programmes Model merit distribution scenarios

Utilise existing eligibility, salary and bonus plan rules to model

future budget scenarios

Measure and refine Monitor off-cycle compensation changes to ensure budget

compliance

Run accurate accruals and people cost reporting year-round

Compare actual practice to programme design

Report on whether budget adherence has been achieved

Ensure allocations have been made in-line with corporate

policies

Understand external

market and internal

equity

Run analysis and exports for survey submission

Undertake market gap analysis that is updated as either

employee or market data changes

Understand compensation data so as to realign compensation

budgets to most needed employee groups

Ensuring fairness and equity in compensation distribution

CURO’S EVOLUTION

“That’s great – now that we are in control of

the comp review process - we want to use

Curo all year-round and we want it to

support us improving the value of the

service we provide to the organisation”

WHAT THE FUTURE WITH CURO LOOKS LIKE

• Reward Team are freed from time consuming administration and data management so can add more value and insightReward

• Leadership will have a better and always current view on all aspects of how compensation is being spent and managed Leaders

• As an organisation you can start to think strategically about your largest expenseOrganisation

TAKEAWAYS

• Build a solid business case

• Focus on :

– Operational efficiency

– Opportunity cost of HR Value add

– Year round value

– C Suite appeal