Productivity is an important matter for businesses. It is one of the things that helps to determine whether a company’s success is inevitable or not. SpiraLinks, a compensation and management needs company, knew this and came up with a compensation and performance management planning suite known as FocalReview.
FocalReview is designed for accounting and HR (human resource) departments. Using its simple interface, it is easy for companies and enterprises to carry out performance-related compensation programs and rewards. This software product is designed to make drafting management team reports, facilitating payroll operations, and performing HR tasks faster, more convenient, error-free, and secure.
One of the reasons businesses and enterprises will want to use FocalReview is its flexibility. It can be deployed two ways—on-premise or in the cloud. As such, you won’t have to worry about any difficulties in accessing it and you’ll be able to take advantage of its features and capabilities anytime you want to.
FocalReview works with three major role-based modules: Employee Portal, Compensation Management, and Performance Management.
Employee Portal is the module that provides a venue for communication (employee to employee), which can lead to sound opinions and decisions. It has a dashboard employees can freely access. Essential information such as Total Rewards details and statements are found in the intuitive dashboard. Employees can access the module regardless of what language they are comfortable with or where they are located.
The Compensation Management module is what accounting departments can use to come up with objective, beneficial, and fair pay procedures and rewards that are aligned with the company’s goals. This can also be a tool for encouraging a good performance-based pay culture.
Additionally, the Compensation Management module is concerned with promotions, balance merit, bonuses, lump sums, stocks, and adjustments. It also works by comparing employee compensation with industry benchmarks. It is an intuitive module that’s also highly configurable. Businesses can use different currencies and languages. Likewise, this module works with varied pay periods.
The Compensation Management features include compensation assessment, employee reward programs, compensation calculation, salary planning, and more.
Performance Management is all about coming up with balanced, customized, and comprehensive performance reviews. Businesses now have an easier time getting access to or information about updated employment data, ranking by the department, and performance history. FocalReview makes performance reviews easier to create and manage. All you need to do is click on or press a button on the dashboard.
In addition, creating a customized performance form or job code in various languages and roles is made easier with this module. Suggestions, performance ratings, and comments are essential for determining skills and talent level, as well as the performance value.
Aside from these major modules, FocalReview also facilitates an efficient payroll integration process. Each of the modules creates an Excel report that contains data provided by the management team. As such, completing the payroll is hassle-free, more efficient, and convenient. Additionally, you’re sure not to miss important details.
FocalReview features HR analytics found on each of the above-mentioned modules. Thus, working on HR needs is easier because everything is placed and can be accessed in one system.
Lastly, FocalReview also provides businesses a deferred compensation feature, which means identifying and retaining top-notch talent and satisfying regulators and shareholders is simpler.
What businesses and enterprises can get from FocalReview is more than just a convenient and innovative compensation and performance tool. Aside from being completely configurable and intuitive, it is also comprehensive as it covers more than just one aspect of performance and appraisal. As previously mentioned, it can integrate a variety of tasks like payroll integration, better employee relations, and highly-improved and convenient HR activities.
FocalReview works for a lot of individuals, businesses, and enterprises because of its simple implementation process, its flexibility, functionality, and its configurable modules. Many prefer it over other compensation management tools because it can be customized according to what a business needs. The fact it is role-based is also a major benefit for most of its users.
Additionally, businesses will find FocalReview easy to work with because of its responsive customer support team. Requests—including updates—are handled almost immediately.
FocalReview also ensures data security for all its users.
For companies, FocalReview offers three benefits: improved profitability, it helps to encourage and keep talent, and it helps to keep employees interested and engaged.
An efficient and effective compensation management software solution can help businesses improve and increase their productivity. What this can result to is significantly better profitability, which is what companies aim for first and foremost.
With a good compensation and payroll plan, it is easier to motivate employees to give their best to the company. Likewise, managers and leaders will also have a more efficient way of identifying which employees should be retained based on performance. Recognizing the talents who contribute to the betterment and success of the company becomes easier.
Finally, because employees receive a good pay and are properly compensated and rewarded for their contributions to the company, they will become more interested and engaged in their work. This will then result in a higher employee retention rate.
There is no specific or fixed pricing plan for FocalReview. The pricing is determined on per-client or on a quote basis. As such, the price is usually dependent on the requirements of a business or enterprise. This works for most companies because they are assured of getting a quote or pricing plan that is suited to their needs.
It is essential to note, however, that FocalReview charges an annual license fee of more or less $20 per employee/year. In addition to this, businesses are also required to pay an initial set up fee for the first year.
To get a quote from FocalReview, simply get in touch with their customer service team (available 24/7) and provide the information they need to facilitate your request.
FocalReview is what a company needs to facilitate smooth, comprehensive, and customizable performance and compensation programs. The goal is to achieve better overall performance (productivity) for the business or enterprise by making sure employees are properly compensated and by ensuring efficiency in all management aspects.
Since it works for various currencies and languages, FocalReview is highly functional not just for a particular group of businesses but for a variety of companies and industries from different parts of the world.
If your business values its employees and its capabilities to ensure productivity and profitability, FocalReview might just work for you.