NuView Systems Enables Employee Compensation Management
Latest Module in HRMS Suite Makes Strategic Impact on Companies - Significantly Improves the Effectiveness of the Compensation and Budget Planning Process
WorldatWork Total Rewards Conference, Booth #269, Orlando, FL -- May 6, 2007 -- In its continuing effort to empower organizations to improve human resource business processes and retain and reward star performers, NuView Systems -- developer of the award winning NuViewHR product suite, today announced the latest addition to its strategic Human Resource Management System (HRMS). NuView's Compensation Management module enable managers and human resource professionals to perform advanced salary planning, incentive and stock-planning functions based on an employee's contributions. Not only does Compensation Management link individual employee performance with compensation, it also streamlines budget increases by department or by payment plan, using a merit matrix model.
NuViewHR now has the capacity to allow Managers to look at gaps in employee knowledge, performance goals attained and learning actions undertaken, while considering compensation budgets and managing the allocation of funds. This information, delivered at the line manager level, allows every Manager to have access to relevant and business critical information while making compensation decisions. As a key addition to the NuViewHR modules of Recruiting Management, Performance Management, Training Administration and Metrics, the Compensation Management module brings out the strategic value of employee effectiveness to an organization.
In an environment of increased globalization and regulation, a compensation management solution that can provide a clear measurement of how employee performance aligns with the company objectives can result in a sizable competitive advantage and increased profitability. However, in order for HR to effectively facilitate the development of a high-performance workforce and reward its high achievers, it must be able to break down its functional information silos, support its end-to-end processes via sophisticated workflows, and have an integrated and common set of competency data models.
"As organizations continue to struggle with attracting, retaining and developing talented employees, they must have the ability to seamlessly assess individual employee competencies and job performance. More importantly, they need to link employee contributions to an organization's business goals," said Shafiq Lokhandwala, CEO of NuView Systems Inc. "Our new Compensation Management module was developed specifically to help corporate and HR executives meet these workflow optimization challenges and recognize the employees who contribute most to their bottom line."
About NuViewHR Compensation Management
NuView's Compensation Management module is an advanced salary planning tool that allows managers to balance salary increases against budget, while displaying the variance for all pay and earning types. More specifically, the system supports both direct and indirect roll up totals so Department Managers, Compensation and Benefit Specialists and C-level Executives can determine if the company is over or under budget when it comes to employee compensation. Once all recommendations have been finalized and approved, NuView's Compensation Management module feeds the organization's payroll system with the approved increases at the completion of the planning process. Additional features and benefits include a standard report library encompassing 'Actual vs. Planned Increase' and 'Departmental Increase' summaries, as well as the ability to generate wage increase confirmation letters for all employees. Lastly, a built-in ad hoc Report Writer and Query tool provides greater flexibility in generating answers to employee inquiries by providing quick and easy access to all compensation-related fields for inclusion in user-defined reports. To learn more about Compensation Management, visit http://www.nuviewinc.com/CompMgmt.htm.
About NuView Systems, Inc. NuView Systems provides an award-winning Human Resource Management System (HRMS) to global companies who have a strategic HR vision, and who view technology as the method to carry out that vision. Founded in 1994, NuViewHR leverages technology to manage people, process & strategy across the enterprise. A web-native human resource platform, NuViewHR empowers organizations to improve strategic business processes, create efficient workflows, and adhere to compliance reporting. NuView's complete product suite allows organizations to integrate all of the major HR components via a secure, role-based platform that easily distributes relevant information to Managers and Staff via personalized Employee Self-Service portals. Unlike other HR offerings, NuView offers a proven set of modular solutions, including HR & Benefits Administration, Compensation Management, Recruiting Management, Candidate Self- Service, Training Administration, Performance Management, Succession Management, Employee Self-Service, Manager Self-Service, Metrics, Reporting, Time Entry and Payroll, enabling an organization to meet their immediate needs and deliver a rapid return on investment, then ramp up the strategic modules and grow the solution across their world-wide locations. For more information, visit www.nuviewHR.com or call (978) 988-7884.