Online compensation is all about a web enable an
organisation to collect, store, analyse and distribute the compensation data
and information. Besides, there is online benefits system. This system is based
on type of employer-sponsored retirement plan. The amount of the benefits is
based to the number of factors including the employee’s average salary before
retirement, age at retirement and the length of employment. Nowadays, most of
organisations provide employees with benefits electronic on annual basis.
Regarding to this system, it allows employees to check any dissatisfaction on
their file with their employer or Human Resources. Furthermore, it can give
employee an opportunity to use benefits electronic. Besides, this system can
eliminate paper-based system and it can save time to handle it.
Here are the advantages of online compensation. Since this is the ultimate technology, Human Resources
do not have any disadvantage.
ADVANTAGES
1.
On
screen reports
Online compensation is easy and fast to use. It is
because you can get all the information and data that you need to manage
payroll efficiently. All the information is right at your fingers. Online
compensation is widely approach such as vacation report, sick report and etc.
Therefore, you can still advantage of online reporting to access your
organisation’s data at any time with complete security.
2.
Eliminate
paper-based system
By using online compensation system, it changing the
way of your administer in payroll. You can eliminate the paperwork and manage
your payroll by clicking the mouse. Besides, you can improve effectiveness in
term of the accuracy of information or by using the technology to simplify the
process.
3.
Save
time
Online compensation system can save employer and
employee time. For example, it can let the manager ready access to information
that is useful both to them and to their employees. Besides, this system does not
have to go through with a third party.
IMPLICATION
1.
Although
E-compensation and E-benefits creates new opportunities for line management and
employees the organizational practice can be limited in using these
opportunities because of a lack of time and the willingness to pick them up.
2.
Improve
the HR services by improving two way communications leading to higher levels of
engagement and satisfaction with HR.
3.
Help
the management of the organization to redefine the employees’ responsibilities
in HR.
REFERENCES
- Dr. Nur Naha, web based compensation & planning slides. ppt, 30 January 2007
- http://www.shrm.org/Research/SHRMCompensationDataService/Pages/OnlineCompensationReports.aspx
- http://www.tpsgc-pwgsc.gc.ca/remuneration-compensation/txt/faq-employe-employee-eng.html
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