Enable Alignment of Financial Incentives to Business Objectives
Incentive compensation has been proven effective at reinforcing positive employee behaviors by attaching monetary rewards to the successful completion of goals.
See How it Works
The underlying goal of FlexComp is simplicity, because managing bonus compensation programs is anything but. Often, HR professionals are left with a tangled mess created by disjointed bonus programs and tracking the KPIs and goals set by individual divisions and departments. Deciphering this chaos can be a painstaking effort that eats up valuable time. FlexComp simplifies the confusion by allowing companies to create unlimited bonus programs and goals and effortlessly score performance. Then, effectively funnels that information into a simplified, digestible stream to payroll.
Creating Bonus Programs
Top-level executives design, approve and finalize an unlimited number of incentive programs, with any number of components and flexible scoring. FlexComp organizations can truly customize their bonus compensation programs to meet any needs.
Setting and Approving Goals
Goals are created, added or removed pending approval of senior managers and employees are added to the bonus programs. FlexComp offers complete flexibility in designing goals, in terms of the number of goals and types.
Entering and Approving Achievements
FlexComp makes it easy for managers to enter scores and see goal achievement progress calculated immediately. There are multiple ways to enter scores and the feed can seamlessly be sent on to payroll to begin dispensing bonus payments to employees.
Reports & Comp Statements
Compared to traditional, spreadsheet reporting of bonus compensation, FlexComp creates a much cleaner deliverable to employees. There’s no confusion, no navigating dense excel pages, and no extra work for HR – just an easy-to-understand final report.
No limit on the number of Comp Statement templates with your own branding and messaging.
4 Ways To Score
Managers Enter Achievement and FlexComp Calculates
Use Existing Excel Formula
Managers Assign Ratings which converts to Score
Manually Enter Scores
What Our Clients Say…
“CWS is a great company to work with! The system is extremely easy to navigate and maintain. Best of all, their customer service and technical support specialists are awesome! I highly recommend this team and their products! ”
Compensation & HRIS Manager
“I have now used TimeOut for over ten years at three different companies. I introduced it to two of those companies as well as referring it on to other HR professionals at other organizations. The flexibility and customizations make TimeOut the perfect solution for our staff in the US and in our international locations.”
DIRECTOR OF EQUITIES
“Just wanted to share with you that we met with the CFO today to discuss our merit process. He has several Fortune 500 companies in his experience and he told us that the TalentComp planning system and the level of detail and complexity is the best he’s seen. He was extremely complimentary about it and the comment was completely unprovoked.”