Application
Visier People® Total Rewards
Last updated:
Introduction
Visier People® Total Rewards helps organizations answer all their important questions related to compensation payout, share grants, and leave management.
Our comprehensive offering empowers you to effectively analyze, monitor, and solve a wide range of challenges, whether you’re seeking to manage advanced compensation-related decisions effectively, understand the effectiveness of your share grants program, or reduce absenteeism.
Leverage extensive best practice content and insights. Filter our out-of-the-box content to sub-populations or specific time periods, or use them as a starting point to create your own visualizations and insights unique to your needs.
Visier People® Essentials is required as a prerequisite to purchasing Total Rewards.
What value is delivered?
Visier People Total Rewards is designed to solve problems related to compensation payout, share grants, and leave management. The unique problems solved by Visier People Total Rewards are listed below:
Cost Management: Provides a comprehensive overview of the total cost of the workforce, including direct compensation, benefits, labor costs, and overhead costs. This enables the organization to gain a clear understanding of all personnel costs of its workforce, identify cost drivers, and compare actual spending to budgeted costs.
Why is it important? Workforce costs typically represent a significant portion of an organization's expenses, and if not managed effectively, can lead to financial instability and even bankruptcy. By managing the cost of its workforce, an organization can ensure it remains financially sustainable and able to invest in growth and development.Equity-based Compensation: Provides insight into pay equity across demographic factors such as age, gender, or ethnicity. This enables organizations to identify potential bias against certain groups of employees and ensure alignment with pay policies and diversity goals of the organization.
Why is it important? Pay equity can help to improve employee retention and motivation. When employees feel that they are being paid fairly and equitably, they are more likely to be satisfied with their jobs and remain with the organization for a longer period. Furthermore, in many countries, pay equity is a legal requirement. Organizations that do not comply with pay equity laws and regulations may face legal action, fines, or other penalties.Compliance with Laws and Regulations: Provides insight into employees that are paid below the minimum wage, overtime pay, compa ratio, and employee benefits. This enables organizations to identify inefficiencies in labor cost management and the potential risk of legal action.
Why is it important? Compliance in compensation can help an organization avoid legal issues. By ensuring that compensation practices comply with relevant laws and regulations, an organization can minimize the risk of legal action and related costs.Impact of Share Grants: Provides insight into employee share grant incentives, such as stock options. This enables organizations to analyze the number, value, distribution, and effectiveness of their share grant program and its impact on engagement, performance, and retention.
Why is it important? Evaluating the impact of the share grants program can help identify whether or not the program is actually motivating employees and having a positive impact on employee engagement, performance, and retention. It helps to align with the organization's objectives while being cost-effective.Absenteeism Patterns: Provides a comprehensive overview of employee behavior, and helps your organization explore the impact of absenteeism on engagement, performance, turnover, and ultimately business results. This comprehensive understanding allows organizations to proactively address any negative trends and take appropriate measures to ensure optimal employee productivity and well-being.
Why is it important? Excessive absenteeism can be costly for organizations, as it can result in decreased productivity and increased expenses associated with paying for overtime or hiring temporary workers. By identifying patterns, organizations can take steps to address the root causes of absenteeism, thereby reducing associated costs.
What do I get with Visier People® Total Rewards and what do I need to provide?
With Visier People Total Rewards, you can access:
400+ metrics
35+ questions
10+ stories & dashboards
And build unlimited content
To unlock the full potential of Visier People Total Rewards, we recommend providing the following data elements:
Compensation Payout
Compensation payout refers to actual compensation and is the amount the organization has given to the employees. You have the option to load the following data: employee ID, currency, payout date, payout hours, amount, and type.
What does this enable? You can use this information to understand how your compensation payout is broken down by each employee group over time and/or by each compensation type, including direct compensation, benefits, labor costs, and overhead costs. By combining this information with the data loaded under Visier People Essentials, you can group and filter this information by any group of employees (e.g., location, gender, business units, manager) and effectively answer questions such as:
How does our actual pay compare to our budget?
Are high performers receiving competitive compensation?
Do compensation increases impact turnover or engagement?
Do employees with higher compa ratio resign less often than others?
Share Grants
Share grants are company equity, and to analyze this topic, you have the opportunity to load share grant type (i.e., stock option, restricted stock award), total number awarded, whether they have vested or been exercised, cost per unit, and currency.
What does this enable? This data can be used to calculate the number of grants that are available at each point in time, analyze the effectiveness of your share grant program, understand the distribution of shares to different employee groups, and assess how fair it is. It will help you answer critical questions such as:
What types of share grants do we have and what is the value?
How many share grants are currently vested and exercised?
What is the average equity holding power of employees?
Leave Management
Includes absence and expected work days data. In order to explore these topics, you have the opportunity to load the following data: absence days for any employee, whether it is paid or unpaid, leave type (i.e., sick leave, annual leave, bereavement), the detailed reason, and the expected work days.
What does this enable? This will provide you with insights into leave management and allow you to analyze groups of employees (i.e., by location, business units, and tenure) who have the highest rates of absence and what the drivers are. This helps you answer questions such as:
What are the primary reasons for employee absences?
What is the overall rate of absenteeism in the organization, and how does it vary across departments, teams, or job roles?
Are there specific days of the week or times of the year when absences are more prevalent?
Are there any correlations between absence rates and employee engagement or turnover?
For more information, please refer to the following documents:
Data Dictionary: Provides comprehensive information about the data elements.
Application Definitions: Provides an extensive list of metrics, dimensions, content, and guidebooks that will be lit up once we have loaded these data elements.