Compensation managers have a lot on their plates these days – managing remote employees, keeping tabs on the changing competitive job market, state and federal regulations, finding and retaining talent. It can be hard to simply find enough time in the day to complete the typical tasks associated with the role, let alone spend valuable hours responding and solving compensation questions or errors.
Managing compensation details using the spreadsheet method can contribute to the daily challenges felt by compensation managers. If your organization is still managing employee pay, incentive compensation or other employee data using spreadsheets, you may have just identified a major source contributing to the stress you feel on a daily basis.
So, how are spreadsheets contributing to your daily challenges? Here are just a few of the ways that spreadsheets cause problems for compensation managers:
Overall, spreadsheets can be useful for managing compensation data, but they may have limitations that can lead to errors, inefficiencies, and security risks. Using specialized compensation software or cloud-based HR platforms can help compensation managers overcome these challenges and streamline their compensation processes.
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