Smooth sailing: Manage employee churn with Oracle Incentive Compensation and Oracle HCM

The pain of disconnected incentive compensation and HCM solutions

In today's fast-paced business landscape, companies rely on effective incentive compensation management to motivate and reward their employees and partners. However, employees constantly change positions. Handling onboarding and internal transfers is typically one of the most labor-intensive parts of ensuring accurate compensation payments. Oftentimes organizations find themselves sorting through endless emails and spreadsheets prior to payroll to ensure the most recent employee changes are reflected in compensation plans. 

Five reasons why Oracle Incentive Compensation and Oracle Human Capital Management (HCM) are better together

Fortunately for Oracle Incentive Compensation customers using Oracle Human Capital Management (HCM), employee management can be handled with ease:

1. Onboarding made easy: The process of onboarding new hires can be completely automated so that employees are ready to go on day one. Oracle Incentive Compensation automatically onboards eligible new hires and associates the new hires to the correct compensation plans and pay groups. This adds efficiency and reliability for teams managing their organization’s incentive programs.
2. Seamless transfers and updates: Oracle Incentive Compensation, together with Oracle HCM, ensures employee transfers don’t get missed and that employees are moved on to the correct compensation plan. As changes are detected in Oracle HCM, they are reflected in Oracle Incentive Compensation and relevant effective dates, assignments to compensation plans, and pay groups are updated. When employees leave an organization, automated termination handling ensures their association with all compensation plans are deactivated and that their final payouts are correct. Plan assignments can be deactivated effective immediately or after a specified time to allow for adjustments or outstanding sales to be entered prior to final payment. Disputes can be handled, and corrections can be made even after an employee has left the company.
3. Streamlined plan document distribution: Oracle Incentive Compensation’s plan document capabilities makes plan distribution a breeze. Once employees are assigned to a compensation plan, their documents are generated and ready for distribution, review, and acceptance. The distribution tool alerts employees in-app and sends an e-mail requesting their acceptance. Support for multi-level approvals means managers can even review documents before they are sent to their team. Plan acceptance is tracked, and documents are available for review at any time. 
4. Enterprise grade integration: Oracle Incentive Compensation allows administrators to easily define rules on which employees should be eligible for compensation plans. Administrators can also either automatically map employee data to compensation plans or enable optional review and approvals processes prior to the mapping being effective. Once configured, the process of managing employee onboarding, updates, and assignments moves from a time-consuming task to something that just simply happens.
5. Unified reporting: Oracle Incentive Compensation’s connection with Oracle HCM means that you can enrich incentive compensation reports seamlessly with additional HR information. The ability to combine this information gives you broader visibility into overall employee performance, pay distribution, and plan effectiveness without the need to integrate into an external system. The additional information in Oracle HR can also be used to better explain payments to employees to avoid unnecessary disputes. Analytics are key to the success of any program and Oracle Incentive Compensation with Oracle HCM makes discovering insights easy.

Oracle Incentive Compensation is stronger with Oracle HCM 

Oracle Incentive Compensation calculates sales incentives accurately and helps ensure timely payments to payees. With built-in connectivity to Oracle HCM, organizations can automatically onboard employees. Organizations can also handle internal transfers based on detailed job history captured within Oracle HCM, and automatically associate the employee with the correct date-effective compensation plans.

Data integration and data quality can be one of the most challenging and important pieces of any implementation. With built-in connectivity, organizations can increase efficiency while reducing risks and total cost of ownership.

Learn more about the benefits of Oracle Incentive Compensation and Oracle Human Capital Management. 

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