Recent data from within and outside the compensation management discipline suggests a bias for action is now indicated. As companies emerge into the post-recession ‘new-normal’ of slow expansion and core competency retention, two perspectives suggest that now is indeed a good time to invest in compensation management solution technology.
The strategic business perspective demands that appropriate structure and policies are in place to enhance retention and attract key new talent in an extremely competitive environment. The ability to demonstrate equity and competitiveness is essential to business-enhancing talent management.
The value of compensation analysis and planning technology to effectively deliver aligned human resource support for business goals has never been more pronounced. Technology investment supporting a hybrid approach to analysis and planning:
- Improves efficiency in delivery by the HR team (the cost containment piece that is often important to finance)
- Optimizes attracting and retaining talent (the key element to achieving business goals)
- Reduces compliance risk.
There is a general investing maxim, “Sell in May and go away” that suggests summer is not a productive time for considering stock market investments. While it may be true for the market in general there are numerous positive indicators that for investing in compensation management technology now is the time to realize the value of targeted and aligned technology positioning your business firmly for the future.