Organizations, now more than ever are trying to determine the impact that their HR planning has on corporate performance. In fact, the correlation between effective HR management and an organization’s performance is obvious: appointing and managing the right talent with the right compensation and position is paramount in achieving a positive shift in performance. The best way to demonstrate whether a company’s HR planning is effective is to understand how it impacts the entire organization. A holistic approach to HR planning and management will provide a clear picture of how resources are positioned and indicate if any deficiencies exist.
This is where a Corporate Performance Management (CPM) solution can be beneficial. A CPM solution can automate your HR planning and budgeting functions based on actual HR processes to accurately and automatically generate the best case scenario for the budgeting cycle, while minimizing end user workload. A driver based HR planning solution has several advantages and capabilities including:
- Salary and benefit calculations (401k, insurance, profit sharing)
- Bonuses calculations (variable compensation, holiday bonus)
- Taxes & deductions calculations (income tax, EI, pension contributions)
- Managing employee splits/transfers
- Centralized administrative drivers to easily apply top level adjustments for examining how HR positioning affects overall budget
- Careful FTE and headcount planning functionality to provide a better road map for resource allocation and direction for HR recruitment activities in the future
A CPM solution can help you stay on track, within budget, and can help save administrative costs by consolidating all details into one centralized location. It also ensures that sensitive data is protected through various levels of security which can be easily configured with minimal maintenance. By viewing the organization in its entirety, organizations can take a strategic approach in HR planning.
How can Delbridge Help?
At Delbridge, we understand that HR planning and management play a pertinent role in any organization. Our team of expert consultants can review your current HR process and recommend a Corporate Performance Management solution which can improve your process and allow you to plan your employee expenses more accurately and efficiently. We have implemented HR specific solutions for many of our clients resulting in improved headcount planning and more accurate budgeting. Please contact us and let us introduce you to some of our existing clients!