nGen Bonus and Incentive Compensation Features
Eliminate the Hassle of Manual Bonus and Incentive Management
Easily design, create and manage your complex bonus, discretionary, MBO's, and variable incentive plans. nGen Bonus's user interface allows users to easily create modular, re-usable compensation elements for use in building plans. nGen products have the ability to manage all of your complex plan elements:
- Date Effective Hierarchy and Participation Management
- Titles
- Custom Periods
- Company Performance Grids
- Achievements
- Custom Groups
- Weighting of Pay Elements
- Manual Payments
- Non-cash Incentives
- Formulas
- Payout Rules
- Tiers
- Discretionary Payout Pool Management
Bonus Worksheets and Management Approvals
Large organizations require the ability to view and approve large hierarchies of subordinate based bonus and payout information. The 'Worksheet' functionality allows for an electronic form that has the flexibility of Excel but with security and information that resides in one place, eliminating the need to pass hundreds of spreadsheets throughout the organization. The same integrated workflow that allows for field level HR requests and sales disputes also handles bonus worksheet creation and approvals. nGen Bonus allows for easy setup and distribution of bonus plans via automatically generated worksheets with bonus suggestions, ranges, total budgets, discretionary bonus pool allocations and complete security by role. Now you can create a timely and orderly process for bonus allocation and reward, without the hassle of time consuming emails and paper documents.
Compensation Forecasting, Analysis and 'What if' Payout Viewing
Easily design and review plans before they are implemented. With nGen you can create variable pay plans in a 'Model' environment before releasing them into 'Production'. Now you can see your plans, make changes, view participant payouts before releasing to the field. Also, compare two plans for differences, pay elements, and participant payouts or run past, present and historical transactions to see 'real time' calculated results for individual payouts. Take control of your variable pay plans instead of letting them control you.
Communication
nGen Bonus has a simple, configurable, security based dashboard allowing all personnel and Management to view information in one place including all related reports (Monthly/Quarterly/Yearly pay statements, details of attainment, etc). The Dashboard allows for users to view their individual performance and link to other HR areas like benefits and 401K information. From the dashboard, users can also access a roles-based 'workflow inbox' and the Total Compensation 'What If' areas to visualize how individual and team performance will effect their payout. The power is given to the field to drive your company goals.
Team and Individual Payout 'What if'
Why should the entire company wait and wonder what their potential bonus payouts can be? With nGen Bonus, users have the ability to view their potential compensation 'real time'. Users can view their total potential payout for bonus, performance awards, MBO's and other variable compensation factors with easy to use 'sliders' placing the power to motivate in your hands. Teams can see quickly and easily how they can maximize their payment, and you can drive your Enterprise with Total Pay-For-Performance.
Integrated Workflow
Because many people are involved in the process of compensation, workflow management between the Field, Management, Operations, HR and Executives is critical. Our integrated workflow is designed to work with the entire nGen software suite: Sales, Bonus and Salary modules. The base functionality allows for easy setup and maintenance of custom approval hierarchies, groups, email notifications, status, escalation, file attachments and other custom functions. nGen also has built in features for managing Bonus Worksheets, Document approvals, and HR actions all combined with an easy to use workflow that integrates with overall audibility and reporting, so Sarbanes Oxley can be easily managed.
Reporting
The most important reports are often those that teams have to generate manually. nGen offers three mechanisms to report data:
- Automatically Generate and Schedule Reports: nGen Reporting includes standard templates for monthly pay statements, total compensation, budget allocation, pool distribution, etc.
- Create Ad Hoc Reports: The nGen Ad Hoc interface allows the user to create criteria, filters, organize columns and save custom reports.
- Analyze Your Data: 'Drill In' to see data in many different ways with nGen's analysis tools. Additionally, analyzed data can be exported to XLS, XML, CSV and PDF.
Now you have the power to search, report and communicate accurate data easily.
Application Security and Roles
The entire nGen Software suite utilizes the ability to create roles and groups to limit the ability of users to view, edit, update and print the data. The system utilizes a simple set of user interfaces to grant or revoke access to dashboards, workflow, compensation plan administration as well as the modules of Sales, Bonus and Salary.