Services Compensation Co-Sourcing
Paradox’s industry-leading co-sourcing technology provides clients access to data and reports 24/7. Below is a small sample of our capabilities. Contact us for a more complete demonstration.
Updated reports in PDF and Excel are available 24/7 by signing in to our secure client area via our website. In addition, many reports are available in spreadsheet format for you to further filter and sort data to meet your needs on an ad hoc basis. Varying levels of security can be set up to provide your staff access to all versus more limited data and reports.
Once you enter the system, your up-to-date information, reports, online forms and even job descriptions can be selected from the document center.
From here you are able to execute tasks such as:
Analyze job and employee data seamlessly.
The Employee Report captures all job, performance and compensation-related data for your organization at the incumbent level. Initially, employee data is uploaded by the client through our website. Then, additional employees can be added or deleted one at a time or through regularly refreshing client data files.
Data previously maintained in separate spreadsheets, such as bonus history and long-term incentive awards, can be used to build a single, integrated view of your employees’ pay opportunities.
Employee data is automatically linked to pay ranges and other target pay opportunities (e.g., annual bonus and long-term incentive) through the job code and/or level. Reports can be filtered to show specific sets of employees, business units and job families. Reports can be produced separately for a particular type of pay (e.g., base pay only, employees with bonus opportunities only, employees with long-term awards only). Column headings may be modified to depict your specific organizational terminology.
Streamline survey participation and market analysis.
Paradox co-sourcing allows your organization to access our vast resources for market pricing jobs. We will match your jobs to our sources based on tasks, accountabilities, scope, industry, experience or other relevant factors. Preparing market information for discussions with managers, your annual competitive review, supporting a reorganization or compensation committee meetings is fast and efficient.
This sample Job Pricing Report shows survey sources used for the client’s position “Senior VP, Region.” Percentiles and mean data are reported for base salary, short-term incentive and total cash compensation. The market summary provides an overall average for all market data. If desired, this report also provides a predicted grade or band based on market value and shows current grade or band.
The Market Summary Information Report allows you to view competitive values on all jobs or a subset of jobs (selected by organizational unit, location, level, etc.).
All market analysis reports are available for both total cash and total direct compensation (base plus short- and long-term incentives). With our fully integrated data tables, other reports examine the relationship between market data and employee pay.
Manage pay structures and incentive opportunities on demand.
Reviewing the competitiveness of your various pay program components is typically an annual, time-consuming process. With Paradox co-sourcing, these analyses are “ready to print” at any time. The Market Summary by Grade Report shows the relationship between market data and midpoint for each grade level or a control point within a band. Information includes a calculation for each job within the grade or band, the average for the grade or band, and an overall average for the structure.
This analysis can be conducted on both current and proposed structures. When you are ready to update the structure, we simply move proposed to current and all job and employee data are automatically updated.
The Salary Structure Analysis Report allows management to fully consider the financial impact of proposed changes in a base pay structure. The impact is presented in two ways: first, from a global perspective and then from the perspective of considering incumbents in the structure.
These same formats can be used to analyze and adjust bonus targets and long-term incentive opportunities.
Maintain job information and end-to-end job evaluation processes.
The Paradox co-sourcing system allows your organization to upload and catalog job descriptions or other job analysis tools that support a range of human resource activities. Access can be shared with various members of the HR team from one easy electronic source.
What if your job descriptions are nonexistent or need to be revamped? Paradox has thousands of sample job descriptions that can be used to start the process. Request by title or job family, and a Paradox consultant will send a folder to your Document Center that you can browse online.
Paradox can maintain ANY form of job evaluation process varying from market pricing/whole job ranking to point-factor, competency and role-based classification techniques. This sample Ranking Worksheet shows information about a nonbenchmark job’s manager, direct reports and peers relevant for a preliminary evaluation. The preliminary result is then compared to other jobs within the family and the grade or band.
Another method of assigning jobs to grades or bands – competency and role-based classification – combines job evaluation with career level, skill and behavioral expectations. This sample supports evaluations based on matching job descriptions to levels of competency that have been priced and graded in a nonexempt accounting job family.
Audit and document FLSA status.
Auditing and documenting FLSA status is tedious and is expected to become increasingly so over the next few years. By request, Paradox will review FLSA status for single or multiple jobs, supported by a preferred law firm resource as needed. Alternatively, we will work with your law firm to review our preliminary results.
If your internal resources are sufficient to complete the analysis, we can offer you the means to document your FLSA determinations. This report allows up to three exemption tests for a single job. You can enter a preliminary determination, comments from manager and/or other discussions, and final results. Each line of information can be linked to the job description or other job analysis tool, thus providing an audit trail supporting the decisions that were made.
FLSA audit information can be maintained for as long as desired, enabling the organization to review what has been audited in the past, results and comments, and the job information used to justify decisions.
Obtain a 360º view on select jobs.
The traditional approach to organizing information about particular jobs has HR staff scrambling through spreadsheets, Word documents and filing cabinets to obtain a comprehensive view of job requirements, pay opportunities and current employee pay. This “single view” of a job is used to support a variety of discussions with managers, the compensation committee (at the senior executive level) and recruiters. The Paradox Job Query makes it easy. Not only do you see structure, market and employee data related to the job, but there’s an automated link to the current job description.
Ease the burden of pay planning – merit, bonus, long-term awards.
Organizations struggle annually with supporting the key business process of evaluating employee performance and making pay recommendations. In this environment of cost containment and limited budgets, differentiating key performers is more important than ever before. Internal and external scrutiny has intensified as well. The Paradox Manager Merit Planning Tool allows you to manage the distribution, collection and consolidation of recommendations from your managers easily and efficiently.
We also provide similar tools for short-term and, as applicable, long-term incentive award recommendations.
Once pay recommendation data is collected and uploaded to the Paradox system, the analysis begins. The Performance Merit Analysis Report illustrates just one of our capabilities. This example analyzes budget versus actual spend by department, but it can also be produced by business unit, location, level, etc. Similar analyses are conducted for incentive opportunities.
And there’s more.
Our technology has additional advantages:
- We can maintain a variety of forms, guidelines, standard communications, and webinar/training material for you online.
- If applicable, integrating the use of geographic differentials is automatic. Your reports will reflect geographic differences in pay that we develop and update for you or which you have already implemented.
- We track how decisions were made. Review codes and comments can be attached to jobs and employees to document actions taken, date and rationale.
- In addition, we provide broad flexibility around capturing custom fields.
