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Bend, OR April 8, 2016 - Ventana Research today launched its latest market research study, designed to examine organizations’ choices, use and best practices in the area of total compensation management (TCM). Compensation management is a key activity for supporting all workers and talent management processes. Determining and providing the appropriate compensation for each person, whether that involves base pay, merit pay or variable pay and incentives, bonuses or rewards, is critical to being able to attract and retain productive members of the workforce – full- or part-time employees, contingent workers and contractors. This benchmark research by Ventana Research will provide a detailed picture of the current state and future direction of total compensation management.
The research will assess the degree to which organizations are satisfied with their current compensation systems and identify areas where improvements, enhancements or replacement would be valuable. It will investigate the degree and ways in which these systems are able to meet the entire set of business needs across a range of roles and responsibilities.
An investment in total compensation management is a strategic step toward effective human capital management in that organizations find themselves increasingly under pressure to be able to benchmark internal compensation practices and ensure pay that is fair and equal and can be compared across their industry. In our previous benchmark research on this topic, almost three-fourths (72%) of organizations said that it is important or very important to have a total compensation management system rather than a piecemeal approach.
We find that improvement in compensation processes increasingly is a part of business strategy and planning conversations in executive-level management meetings. However, not many organizations have succeeding in doing so. In our previous research the largest percentage of participants (47%) cited inconsistent execution across divisions and departments as an impediment motivating investments in compensation management.
“Total compensation management is poised to become a powerful component of all phases of human capital management; used properly, it will help organizations understand how to get full value from all of the talent in their workforce,” said Mark Smith, CEO and chief research officer. “This benchmark research will help guide buyers and ensure that organizations get the best practices and guidance required to properly select compensation systems that are truly able to meet the organization’s needs.”
This benchmark research by Ventana Research will provide a detailed picture of the current state and future direction of the use of compensation management in organizations. It will also examine the adequacy of compensation systems to support range of business, human resources, talent management and workforce processes to gain maximum value from an organization. It will also examine differences in responses by industry, by company, and revenue size.
Those interested in learning more about or participating in this benchmark research can do so at http://www.ventanaresearch.com/tcm/. Ventana Research provides qualified research participants with an incentive and complimentary report of the research findings as well as access to a free educational webcast on best practices from the benchmark research.
About Ventana Research
Ventana Research is the most authoritative and respected benchmark business technology research and advisory services firm. We provide insight and expert guidance on mainstream and disruptive technologies through a unique set of research-based offerings including benchmark research and technology evaluation assessments, education workshops and our research and advisory services, Ventana On-Demand. Our unparalleled understanding of the role of technology in optimizing business processes and performance and our best practices guidance are rooted in our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions in every industry. This benchmark research plus our market coverage and in-depth knowledge of hundreds of technology providers means we can deliver education and expertise to our clients to increase the value they derive from technology investments while reducing time, cost and risk.
Ventana Research provides the most comprehensive analyst and research coverage in the industry; business and IT professionals worldwide are members of our community and benefit from Ventana Research's insights, as do highly regarded media and association partners around the globe. Our views and analyses are distributed daily through blogs and social media channels including Twitter, Facebook and LinkedIn. To learn how Ventana Research advances the maturity of organizations’ use of information and technology through benchmark research, education and advisory services, visit www.ventanaresearch.com.
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ISG Software Research is the most authoritative and respected market research and advisory services firm focused on improving business outcomes through optimal use of people, processes, information and technology. Since our beginning, our goal has been to provide insight and expert guidance on mainstream and disruptive technologies. In short, we want to help you become smarter and find the most relevant technology to accelerate your organization's goals.