Product:
LTI Management Software
Industry:
Manufacturing, Energy & Utilities
Challenges
- Manual processing and tracking of highly valuable LTIP program for senior executives and key talent left the organization at risk and struggling to communicate the full value of awards.
- Time-consuming manual process of calculating annual incentives across seven independent businesses introduced a risk for errors and costly mistakes.
- Inability to drive change management across the family of business with manually independent compensation processes.
Key Results
- HRSoft’s LTIP Management and Bonus Management modules were configured to manage all seven business units within one platform with proper access rights for leaders and administrative staff.
- HRSoft’s seasoned compensation consultants learned the highly customized LTIP program and enabled its setup of unique rules and vesting schedules within the flexible framework of HRSoft’s platform.
- HRSoft’s employee portal gave employees year-round access to LTIP portfolio as well as What-If scenario modeling tool.
- Standardized incentive bonus calculation across all business units and reduced processing time for admin team.
- Improved employee engagement, understanding of LTIP program and the true value it provides to all eligible employees.
- Flexibility to evolve, adjust and update incentive and LTIP programs in the future.
- Consolidated reporting available in seconds as opposed to days or weeks.