Visier, the globally recognized leader in people analytics and workforce solutions for people-powered business announced Smart Compensation, a new product designed to simplify the complex compensation planning process into an easy-to-use, data-driven approach that empowers managers like never before. Available as a standalone product, Smart Compensation can be utilized by both current Visier customers within their suite of Visier offerings, or by new customers as a standalone application supporting their compensation planning teams.
In addition to launching Smart Compensation, Visier also announced today “Vee,” a Generative AI-based digital assistant available within the Visier People solution and via integration with Slack and Microsoft Teams.
“Pay is one of the most important conversations a manager can have with their employees, and yet most managers are not given the tools to effectively communicate even the best compensation packages, leaving everyone involved in the process feeling unsatisfied and frustrated,” said Lino Gentile, Vice President of New Applications for Visier. “Smart Compensation takes the decades of experience the Visier team has in the people analytics space, and simplifies this complex issue making it easier for teams to make better, data-driven merit pay decisions while elevating the manager’s competency. We’re solving organizations’ most critical compensation challenges without the messy spreadsheets and with a purpose built manager experience that delivers the impact organizations expect.”
Smart Compensation: redefining the pay process for triple impact
For many companies, the compensation process is frustrating and ineffective for the employee, the manager and the total rewards team. Smart Compensation by Visier redefines the pay process for triple impact, dramatically improving the pay process for each stakeholder. Smart Compensation tackles several critical challenges facing organizations today, including:
- Retention– Make informed financial decisions within the compensation planning cycle with built-in guidance on the cost to retain critical talent and the ROI relative to the cost of replacement.
- Maximizing compensation impact: Using people analytics to optimize each employee’s merit increase to avoid wasteful and ineffective allocations based on undifferentiated “peanut butter spreading” of compensation adjustments and biased decisions.
- Pay transparency– Meet your pay transparency goals by enabling managers and employees with levels of transparency designed specifically for your organization.
- Pay equity– Drive a fair and equitable pay process using optimized and unbiased compensation recommendations at the time of decision—rather than after the fact.
- Manager effectiveness- Increase managers’ competence and confidence with salary discussions through guided, data-backed decision making.
“Smart Compensation gives managers the opportunity to make unbiased pay decisions in real time, optimized for your pay philosophy, and considering employee’s performance, risk of exit and pay equity,” said Gentile. “This helps managers, and organizations make more impactful decisions while simplifying the process for managers, and maximizing the financial impacts of pay decisions.”
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