Large Financial Services Organisation

The organisation faced inefficiencies and privacy issues with their traditional salary review process. We led a transformative shift to a modern, efficient online system, replacing outdated Excel spreadsheets to enhance efficiency, accuracy, and confidentiality in handling sensitive salary data.

Key Challenges

• Reliance on Excel spreadsheets was time-consuming and susceptible to human errors

• Sensitive salary data was vulnerable to unauthorised access

• Salary decisions were not consistently aligned with current market trends

• The process was daunting and unclear for managers, leading to inequitable salary decisions

Process

1. Solution Proposal

• Proposed the implementation of an online salary and bonus planning system designed by Remuneration Consultants 

• Key features included integration with the human resources management system, a user-friendly interface for managers, budget management tools, and enhanced security protocols

2. Implementation

• Convinced senior management and key stakeholders of the benefits of the new system

• Worked closely with Remuneration Consultants to tailor the system to the organisation’s needs

• Provided comprehensive training and support to managers and HR staff

• Implemented the system across the organisation and established a feedback mechanism for continuous improvement

Outcome

• The automated system reduced the time spent on salary reviews

• Integration with market data ensured equitable salary decisions

• Sensitive data was now securely managed

• The clear and straightforward system made the salary review process less daunting for managers

Learnings

• Embracing technology can significantly improve operational processes

• Convincing key stakeholders is crucial for successful implementation

• Establishing a feedback mechanism ensures the system remains effective and relevant

• Comprehensive training is essential for smooth transition and user adoption