OCTOBER 2019HR TECH OUTLOOK8In MyOpinionGain Valuable Insights with Compensation AnalyticsNew Technologies and New Possibilities Advancements in technology have opened up a new world of possibilities for HR professionals. Now, HR can obtain valuable talent analytics just-in-time to address business priorities; integrate compensation data with talent and financial data to provide a holistic view and drive value from internal metrics and comparisons.With the user-friendly functionality of new technologies, visual displays are readily available, facilitating understanding and insight development. Additional data cuts, comparison groups, and outliers can be examined with technology drill down capabilities. Questions are answered in real-time, allowing for HR to derive insights and monitor progress towards pre-specified compensation KPIs.Technology-driven internal compensation analyses are customized for the audience and assess alignment with compensation philosophy and programs. Ideally, these analyses will:· link to talent and business strategies, evolving to address specific timely questions rather than being attached to a compensation process or cycle;· easily be accessed, created, and interpreted; and· targeted to the right comparisons such as different talent or workforce segments and relevant time periods to help aid interpretation.Five Compensation Analyses You Can't IgnoreThere are many compensation metrics from which to choose, and it is easy to lose focus and look at ones with little significance while missing important KPIs. The following five analyses build on one another to Marina VassilevMarina Vassilev, Director, Compensation, Executive HR & Mobility, BASFMelissa Feigelson, Human Capital Intelligence Leader, BASFBy
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