Automating and securing the compensation review process for mid-sized businesses

⇨ Automation of the compensation review process enhances accuracy and fairness, helping HR teams eliminate bias and maintain compliance with changing regulations.

⇨ Robust security measures, including secure data storage and strict access controls, are essential for safeguarding sensitive information during automated compensation reviews.

⇨ Automated systems allow for personalised compensation strategies that align with employee career goals, helping to attract and retain top talent while managing complex pay structures.

As transparency and fairness are becoming more important to staff, it is no surprise that the compensation review process is shifting beyond just a routine HR task on companies’ agendas. However, ensuring accuracy and fairness when maintaining compliance with changing regulations can be challenging.

To help respond to these obstacles, HR and payroll company Zalaris advises that by automating and securing the compensation review process, companies can streamline it while also creating a dynamic compensation strategy to boost growth and enhance employee engagement.

Instead of manually crunching numbers and cross-referencing multiple spreadsheets, automation can help HR teams process data promptly and accurately. In addition, automated systems can also help eliminate bias and enforce consistency by applying the same criteria and policies for all staff, removing discrepancies that can arise from subjective judgement.

Safeguarding sensitive information

As companies embrace automation, the need for robust security measures becomes paramount for a few reasons:

• Secure data storage – The primary defence in safeguarding the compensation review process involves securely storing data, using advanced encryption techniques. Automated systems usually implement multiple security layers, including firewalls and regular audits, to protect against external and internal threats.
• Access controls and permissions – Effective data security also hinges on regulating access to sensitive information. Automated systems enforce strict access controls, such as role-based permissions and two-factor authentication, reducing the risk of internal breaches.
• Compliance with regulations – Adhering to data protection regulations like GDPR and CCPA is essential for companies to avoid significant penalties. Automated compensation systems facilitate compliance by ensuring robust data handling practices, including obtaining consent and supporting transparent reporting for audits.

Personalising compensation reviews

While automation and security are critical, automated compensation reviews can help companies personalise, adapt and scale according to their needs. In this way, automation enables companies to offer tailored benefits and incentives that enhance employee satisfaction and help attract and retain talent by aligning compensation with personal career goals.

As organisations expand, their compensation systems may become more complex, often overwhelming manual processes. Automated systems can also scale to accommodate larger datasets and intricate compensation structures, ensuring the review process remains effective and manageable regardless of company size.

Optimising with SAP SuccessFactors and Zalaris

As Zalaris helps organisations by providing HR insights, expert experience and platform and application options, it has designed an all-in-one HCM solution and approach, leveraging SAP SuccessFactors. 

This strategy helps automate the compensation process with SAP SuccessFactors to ensure that compensation reviews are efficient, accurate and fair, allowing companies to manage complex pay structures and comply with legal standards.

With trust, transparency and fairness becoming even more important within modern workforces, organisations exploring their options can help transform their compensation strategy, creating a process that is not only more efficient and secure but also more personalised and flexible.