COMPENSATION MANAGEMENT SYSTEM AND METHOD
A computer-implemented method, computer program product and computing system for: enabling a user to define a compensation plan for a performance-based employee; obtaining performance information for the performance-based employee, wherein the performance information includes supplemental performance information; and calculating compensation information for the performance-based employee based, at least in part, upon the performance information and the compensation plan.
1 . A compensation management method, executed on a computing device, comprising:
enabling a user to define a compensation plan for a performance-based employee;
obtaining performance information for the performance-based employee, wherein the performance information includes supplemental performance information; and
calculating compensation information for the performance-based employee based, at least in part, upon the performance information and the compensation plan.
2 . The compensation management method of claim 1 wherein obtaining performance information for the performance-based employee includes:
obtaining the supplemental performance information from one or more of:
a social media platform,
an external rating platform,
an internal rating platform,
an inventory management platform,
a human resource management platform,
a proprietary data feed,
a proprietary data file,
a proprietary datastore,
manually-entered data, and
a business analytics platform.
3 . The compensation management method of claim 1 wherein the supplemental performance information includes one or more of:
an inventory age indicator;
a minimum wage indicator;
an hours worked indicator;
an employment history indicator;
a customer feedback indicator;
an economic indicator;
a team rating indicator;
an individual rating indicator; and
an organization rating indicator.
4 . The compensation management method of claim 1 wherein the performance-based employee is a performance-based employee within one or more of:
an automotive sales space;
an automotive service space;
an automotive body shop space;
an automotive finance & insurance space;
an automotive administrative space;
an automotive franchisor space;
an automotive parts space;
a retail space;
a healthcare space;
a financial space;
a manufacturing space;
a hospitality space;
a travel space;
a pharmaceutical space;
a technology space; and
a real estate space.
5 . The compensation management method of claim 1 wherein the performance-based employee is a performance-based seller of products.
6 . The compensation management method of claim 1 wherein the performance-based employee is a performance-based seller of services.
7 . The compensation management method of claim 1 wherein enabling a user to define a compensation plan for a performance-based employee includes:
enabling the user to define the compensation plan for the performance-based employee by selecting the compensation plan from a plurality of available compensation plans.
8 . The compensation management method of claim 1 wherein enabling a user to define a compensation plan for the performance-based employee includes:
enabling the user to define a bespoke compensation plan for the performance-based employee.
9 . The compensation management method of claim 1 wherein the performance information includes sales performance information.
10 . The compensation management method of claim 9 wherein obtaining performance information for the performance-based employee includes:
obtaining the sales performance information from one or more of:
a customer relationship management platform,
an inventory management platform,
an accounting platform,
a proprietary data feed,
a proprietary data file,
a proprietary datastore,
manually-entered data, and
a dealership management platform.
11 . The compensation management method of claim 1 further comprising:
providing the compensation information for the performance-based employee to a payroll platform.
12 . The compensation management method of claim 1 further comprising:
providing the compensation information for the performance-based employee to a dealership management platform.
13 . The compensation management method of claim 1 wherein obtaining performance information for the performance-based employee includes one or more of:
selectively excluding one or more performance indicators; and
selectively devaluing one or more performance indicators.
14 . A computer program product residing on a computer readable medium having a plurality of instructions stored thereon which, when executed by a processor, cause the processor to perform operations comprising:
enabling a user to define a compensation plan for a performance-based employee;
obtaining performance information for the performance-based employee, wherein the performance information includes supplemental performance information; and
calculating compensation information for the performance-based employee based, at least in part, upon the performance information and the compensation plan.
15 . The computer program product of claim 14 wherein obtaining performance information for the performance-based employee includes:
obtaining the supplemental performance information from one or more of:
a social media platform,
an external rating platform,
an internal rating platform,
an inventory management platform,
a human resource management platform,
a proprietary data feed,
a proprietary data file,
a proprietary datastore,
manually-entered data, and
a business analytics platform.
16 . The computer program product of claim 14 wherein the supplemental performance information includes one or more of:
an inventory age indicator;
a minimum wage indicator;
an hours worked indicator;
an employment history indicator;
a customer feedback indicator;
an economic indicator;
a team rating indicator;
an individual rating indicator; and
an organization rating indicator.
17 . The computer program product of claim 14 wherein the performance-based employee is a performance-based employee within one or more of:
an automotive sales space;
an automotive service space;
an automotive body shop space;
an automotive finance & insurance space;
an automotive administrative space;
an automotive franchisor space;
an automotive parts space;
a retail space;
a healthcare space;
a financial space;
a manufacturing space;
a hospitality space;
a travel space;
a pharmaceutical space;
a technology space; and
a real estate space.
18 . The computer program product of claim 14 wherein the performance-based employee is a performance-based seller of products.
19 . The computer program product of claim 14 wherein the performance-based employee is a performance-based seller of services.
20 . The computer program product of claim 14 wherein enabling a user to define a compensation plan for a performance-based employee includes:
enabling the user to define the compensation plan for the performance-based employee by selecting the compensation plan from a plurality of available compensation plans.
21 . The computer program product of claim 14 wherein enabling a user to define a compensation plan for the performance-based employee includes:
enabling the user to define a bespoke compensation plan for the performance-based employee.
22 . The computer program product of claim 14 wherein the performance information includes sales performance information.
23 . The computer program product of claim 22 wherein obtaining performance information for the performance-based employee includes:
obtaining the sales performance information from one or more of:
a customer relationship management platform,
an inventory management platform,
an accounting platform,
a proprietary data feed,
a proprietary data file,
a proprietary datastore,
manually-entered data, and
a dealership management platform.
24 . The computer program product of claim 14 further comprising:
providing the compensation information for the performance-based employee to a payroll platform.
25 . The computer program product of claim 14 further comprising:
providing the compensation information for the performance-based employee to a dealership management platform.
26 . The computer program product of claim 14 wherein obtaining performance information for the performance-based employee includes one or more of:
selectively excluding one or more performance indicators; and
selectively devaluing one or more performance indicators.
27 . A computing system including a processor and memory configured to perform operations comprising:
enabling a user to define a compensation plan for a performance-based employee;
obtaining performance information for the performance-based employee, wherein the performance information includes supplemental performance information; and
calculating compensation information for the performance-based employee based, at least in part, upon the performance information and the compensation plan.
28 . The computing system of claim 27 wherein obtaining performance information for the performance-based employee includes:
obtaining the supplemental performance information from one or more of:
a social media platform,
an external rating platform,
an internal rating platform,
an inventory management platform,
a human resource management platform,
a proprietary data feed,
a proprietary data file,
a proprietary datastore,
manually-entered data, and
a business analytics platform.
29 . The computing system of claim 27 wherein the supplemental performance information includes one or more of:
an inventory age indicator;
a minimum wage indicator;
an hours worked indicator;
an employment history indicator;
a customer feedback indicator;
an economic indicator;
a team rating indicator;
an individual rating indicator; and
an organization rating indicator.
30 . The computing system of claim 27 wherein the performance-based employee is a performance-based employee within one or more of:
an automotive sales space;
an automotive service space;
an automotive body shop space;
an automotive finance & insurance space;
an automotive administrative space;
an automotive franchisor space;
an automotive parts space;
a retail space;
a healthcare space;
a financial space;
a manufacturing space;
a hospitality space;
a travel space;
a pharmaceutical space;
a technology space; and
a real estate space.
31 . The computing system of claim 27 wherein the performance-based employee is a performance-based seller of products.
32 . The computing system of claim 27 wherein the performance-based employee is a performance-based seller of services.
33 . The computing system of claim 27 wherein enabling a user to define a compensation plan for a performance-based employee includes:
enabling the user to define the compensation plan for the performance-based employee by selecting the compensation plan from a plurality of available compensation plans.
34 . The computing system of claim 27 wherein enabling a user to define a compensation plan for the performance-based employee includes:
enabling the user to define a bespoke compensation plan for the performance-based employee.
35 . The computing system of claim 27 wherein the performance information includes sales performance information.
36 . The computing system of claim 35 wherein obtaining performance information for the performance-based employee includes:
obtaining the sales performance information from one or more of:
a customer relationship management platform,
an inventory management platform,
an accounting platform,
a proprietary data feed,
a proprietary data file,
a proprietary datastore,
manually-entered data, and
a dealership management platform.
37 . The computing system of claim 27 further comprising:
providing the compensation information for the performance-based employee to a payroll platform.
38 . The computing system of claim 27 further comprising:
providing the compensation information for the performance-based employee to a dealership management platform.
39 . The computing system of claim 27 wherein obtaining performance information for the performance-based employee includes one or more of:
selectively excluding one or more performance indicators; and
selectively devaluing one or more performance indicators.