Components of Workflow
- Workflow Roles: The different roles involved in the workflow (most common are drafter/issuer, approver, and finalizer).
- Workflow Subjects: The compensation area that is being validated (eg. Payment Approval, Bonus Approval, Goal Setting, Transaction Approval).
Proxy Assignments: A way to assign users who are not part of the normal workflow path but are allowed to act on behalf of users that are part of the normal workflow path.
- Direct Proxy: Direct Proxy Assignment is specifying a specific individual the access to proxy for another individual. An example would be Bob is out on vacation next week so we allow Sue to proxy and handly any incoming requests while he is out.
- Hierarchical Proxy: Hierarchy proxy is specifying a person who is able to proxy for an entire hierarchy branch. An example of this is an HR Proxy who can handle requests for anyone in the Accounting Department.
- Approval Paths: Which users the worksheet should flow to from draft to finalize.
Integrated Workflow Allows for:
- Real-Time Alerts and Data Transparency: Online automated workflow allows real-time access, visibility to workflow activities and processing.
- Maintenance: Users can easily setup and maintain custom approval hierarchies, groups, email notifications, status, escalation, file attachments, and other custom functions.
- Subject Types: Users can apply stock features "out-of-the-box" or create custom features for managing worksheets, document approvals and HR actions.
- Security: Managing workflow online allows integration processes with overall auditing and reporting. This allows Sarbanes-Oxley compliance to be easily manageable.
- Enhanced Buy-In from Stakeholders: Companies can set rules and parameters for multiple performance and reward structures, as well as establish the timelines for the merit and payout periods.
Common Workflow Scenarios
Payees may initiate inquiries or disputes regarding the sales they get credit for, or the payments they receive, based on their dashboards, reports or their paycheck.
This workflow takes the generated payroll file and incorporates it into a worksheet that is attached to a workflow. The workflow can then be initiated automatically or by the comp admin for any designated request path, usually sales management, to collect the necessary approvals and comments before being submitted to a payroll provider.
This workflow allows payees and managers to set, comment upon and adjust objectives for MBO and KPI processes.
This workflow collects MBO or KPI information and/or comments to be used in calculating bonuses against a plan. Through this workflow, bonuses can be adjusted, approved, and commented up and/or balanced against a budget or allocation before being paid.
This workflow provides a process and a database for the individual and team achievements to be recorded for both Bonus and/or Merit processes within organizations.
Compensation Plan Acceptance
This workflow facilitates distribution and acceptance by payees of the Comp Plan and/or any Comp Plan changes so that management has record that the payee has read and acknowledged the new Compensation Plan or Plan change.
This workflow allows managers or comp administrators to evaluate and adjust credits that do not meet certain defined requirements or business rules, or to add credits that for any reason the system has not generated such as one-off splits or sales outside of a defined territory (that may not meet quota crediting requirements)
This workflow allows managers or comp administrators to easily deal with exceptions by evaluating and approving transactions that are unusual, one-off or do not meet the standard business ruled defined in the ICM system. Examples might be splits where both payees get 100% credit, reassignment of a transaction outside its normally defined territory or to a different payee, or above or below defined thresholds.
This workflow allows managers or comp administrators to easily deal with payment or Bonus exceptions by evaluating and approving Bonuses or payments that are unusual, one-off or do not meet the standard business ruled defined in the ICM system. Examples might be splits where both payees get 100% payment, reassignment of a payment to a different payee outside their normally defined territory, or above or below defined thresholds.