Compensation and Benefits

The EmployWise™ Compensation and Benefits module enables you to generate accurate input data for your financial payroll software or third-party payroll processing vendor by collating data from the leave and attendance inputs, recruitment and separation processes.The EmployWise™ Compensation & Benefits module lets you define and maintain accurate employee benefit entitlements with workflows for online employee self service benefit and reimbursement claims like medical reimbursements, LTA claims, conveyance, and other benefits.

Employee compensation and benefits are a key HR responsibility and the number one contributor to employee engagement. While the actual payroll processing is often outsourced to a third party payroll processing vendor or processed by company finance using a payroll software, it is still HR’s responsibility to provide accurate and timely data before payroll can be processed. In addition employee benefits must be tracked, communicated and processed as and when employees make claims against their benefit entitlements.

Generating payroll processing data is a painstaking exercise that must happen every month requiring several iterations and check to make sure no mistakes happen. While critical, this repetitive task is time-consuming and tedious.

Benefits to the Organization

• Get at-a-glance reports and identify cost centers
• Set policies easily and update them without hassle
• Control manpower cost budget

Benefits to HR

• Eliminate employee dissatisfaction on account of delayed payouts
• Improve analytic s and take informed decisions
• Enhance transparency
• Free up the HR department from administrative work to have time for strategic HR development

Benefits to the Employees

• Online claim submission and payment process without any need to chase claims
• Keep track of pay and benefit claims online
• Stay better informed of policies
• Plan finances easily
• Get timely disbursements