Primeum decision-making tools
Frequently changing and complex bonus rules, performance data imported from multiple sources, and constantly evolving HR data: this is the unenviable lot of bonus administrators working in a large concern. The task of bonus administration is involved and time-consuming. Usual spreadsheet-based software applications are not suited to this task and it is easy to make errors, undermining the motivational impact of a scheme and generating compliance issues.
The Primeum Bonus Manager >>Request the product fact-file
Bonus Manager is a powerful bonus management and administration software application. Any type of bonus plan can be configured within it and a user-friendly interface enables you to construct and view all your variable pay schemes and related data in a single point of reference. Bonus Manager is highly modular and flexible and it can be integrated with your data warehousing solution to pull in performance data automatically. Payroll and performance data can also be exported in an easily configurable format to suit your requirements. All types of variable compensation plan can be managed within it and it can accommodate any specific needs you may have (e.g. calculating advances, managing absences, plan and data periodicity, and your employee grade structure).
Bonus Manager is the bonus administration control centre and can be combined with other decision-making tools such as the Primeum Curver-Simulator or the Target Allocator.
The Primeum Curver-Simulator >>Request the product fact-file
Developing bonus payout curves is a critical stage in the design of a variable pay plan. Construction is often simplistic owing to the limitations of traditional spreadsheet software applications and this can jeopardise the overall success of a variable pay system. Primeum’s Curver enables the user to create curves and represent complex functions in plan construction simply and clearly.
Calculating overall scheme cost at different levels of aggregate or national performance when a bonus device is based on a curve requires complex statistical calculations to be performed. Primeum’s Simulator will calculate the cost of your new bonus device based on a series of configurable assumptions.
The Primeum Target Allocator >>Request the product fact-file
The fairness – and hence effectiveness – of actual versus target bonus devices is directly linked to the level of target which beneficiaries are given. Primeum’s target allocation process splits an aggregate (e.g. national) target into individual targets in such a way as to ensure fairness, offering all participants the same chance of success. Removing any bias in the allocation of targets also ensures that your scheme will motivate the bulk of your participant population.