The topic of compensation and
planning is interesting because it usually involves the process of compensation
data and information. Online compensation is the web based approach of
compensation tools that enable organization to gather, store, manipulate,
analyse, utilise and distribute compensation data and information. Whereas,
planning is a systematic approach to estimating the future needs of a company
in terms of labor and supply.
After understanding the main concept
of this topic, the web based compensation is the process that using technology
as a means to manage it. Usually compensation is related with the monetary and
rewards, thus, managing it might be difficult and hard since everyone wanted
the rewards. With using web based tools, managing the process will become
easier.
There are two components in
compensation, first is the fixed compensation and second is the variable
compensation. Under fixed compensation are bonuses, pay wage, merit pay and
equity adjustments. Meanwhile, under the variable components are individual
incentives plan, group incentives plan, profit sharing plan and productivity
gain sharing programs. Online compensation may be beneficial in terms of
streamlining the administration of employee’s compensation and benefits.
Process to streamline the administration will become easier since the
technology helps a lot. Other than that, it improves the effectiveness either
by in terms of the accuracy of information or by using the technology to
simplify the process. The information entered may went wrong and does not align
with the real information, so using the online can fixed the information and
detect where is the part that going wrong. Manager also can access to the
information that they wanted and does not have to go through the third party. The
record of the compensation can be referred if there has any problems that arise
in the future.
In my opinion, e-planning is the
process to estimating the future needs of the organization. Every organization
must have planning for the whole year in order to make sure that the journey of
the organization runs smoothly. Thus, the planning should be planned thoroughly
so that the plan will be execute according to the plan. Employees play
important roles in executing the plan because they are the main element of the
organization. Without employees, the organization may decrease in productivity
due to the absence of the employees.
Online compensation and planning is
actually made the process in the organization become easier. I have learnt new
things and I was satisfied because I know the new knowledge in the information
system. (414 words)
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