COMPENSATION MANAGEMENT SYSTEM AND METHOD
A computer-implemented method, computer program product and computing system for: defining demographic information for a target business entity; defining business information for the target business entity; and analyzing the demographic information and/or the business information to identify a proposed compensation plan for one or more performance-based employees of the target business entity.
1 . A compensation management method, executed on a computing device, comprising:
defining demographic information for a target business entity;
defining business information for the target business entity; and
analyzing the demographic information and/or the business information to identify a proposed compensation plan for one or more performance-based employees of the target business entity.
2 . The compensation management method of claim 1 wherein defining demographic information for a target business entity includes:
receiving the demographic information from a data source.
3 . The compensation management method of claim 1 wherein defining demographic information for a target business entity includes:
manually defining the demographic information.
4 . The compensation management method of claim 1 wherein defining business information for the target business entity includes:
receiving the business information from a data source.
5 . The compensation management method of claim 1 wherein defining business information for the target business entity includes:
manually defining the business information.
6 . The compensation management method of claim 1 wherein the target business entity is a business entity in the automotive space.
7 . The compensation management method of claim 6 wherein the automotive space includes 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; and
an automotive parts space.
8 . The compensation management method of claim 1 wherein the one or more performance-based employees are one or more performance-based sellers of products.
9 . The compensation management method of claim 1 wherein the one or more performance-based employees are one or more performance-based sellers of services.
10 . The compensation management method of claim 1 further comprising:
enabling a user to select the proposed compensation plan for the one or more performance-based employees of the target business entity.
11 . The compensation management method of claim 1 further comprising:
enabling a user to reject the proposed compensation plan for the one or more performance-based employees of the target business entity.
12 . The compensation management method of claim 1 further comprising:
enabling a user to modify the proposed compensation plan for the one or more performance-based employees of the target business entity.
13 . The compensation management method of claim 1 wherein analyzing the demographic information and/or the business information to identify a proposed compensation plan for one or more performance-based employees of the target business entity includes:
identifying one or more comparable business entities having similar demographic information and/or the business information;
identifying one or more business metrics for the one or more comparable business entities; and
identifying a proposed compensation plan for the one or more performance-based employees of the target business entity that is based, at least in part, upon the one or more business metrics.
14 . The compensation management method of claim 13 wherein the one or more business metrics includes one or more:
industry benchmarks;
compensation as a percentage of profit;
compensation as a percentage of overall sales;
compensation per unit sold;
quantity of units sold;
hours worked;
average units sold per employee;
compensation per hour sold;
compensation as a percentage of overall hours worked;
average gross profit per unit sold;
average gross profit per hour sold; and
employees as a percentage of overall sales.
15 . 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:
defining demographic information for a target business entity;
defining business information for the target business entity; and
analyzing the demographic information and/or the business information to identify a proposed compensation plan for one or more performance-based employees of the target business entity.
16 . The computer program product of claim 15 wherein defining demographic information for a target business entity includes:
receiving the demographic information from a data source.
17 . The computer program product of claim 15 wherein defining demographic information for a target business entity includes:
manually defining the demographic information.
18 . The computer program product of claim 15 wherein defining business information for the target business entity includes:
receiving the business information from a data source.
19 . The computer program product of claim 15 wherein defining business information for the target business entity includes: manually defining the business information.
20 . The computer program product of claim 15 wherein the target business entity is a business entity in the automotive space.
21 . The computer program product of claim 20 wherein the automotive space includes 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; and
an automotive parts space.
22 . The computer program product of claim 15 wherein the one or more performance-based employees are one or more performance-based sellers of products.
23 . The computer program product of claim 15 wherein the one or more performance-based employees are one or more performance-based sellers of services.
24 . The computer program product of claim 15 further comprising:
enabling a user to select the proposed compensation plan for the one or more performance-based employees of the target business entity.
25 . The computer program product of claim 15 further comprising:
enabling a user to reject the proposed compensation plan for the one or more performance-based employees of the target business entity.
26 . The computer program product of claim 15 further comprising:
enabling a user to modify the proposed compensation plan for the one or more performance-based employees of the target business entity.
27 . The computer program product of claim 15 wherein analyzing the demographic information and/or the business information to identify a proposed compensation plan for one or more performance-based employees of the target business entity includes:
identifying one or more comparable business entities having similar demographic information and/or the business information;
identifying one or more business metrics for the one or more comparable business entities; and
identifying a proposed compensation plan for the one or more performance-based employees of the target business entity that is based, at least in part, upon the one or more business metrics.
28 . The computer program product of claim 27 wherein the one or more business metrics includes one or more:
industry benchmarks;
compensation as a percentage of profit;
compensation as a percentage of overall sales;
compensation per unit sold;
quantity of units sold;
hours worked;
average units sold per employee;
compensation per hour sold;
compensation as a percentage of overall hours worked;
average gross profit per unit sold;
average gross profit per hour sold; and
employees as a percentage of overall sales.
29 . A computing system including a processor and memory configured to perform operations comprising:
defining demographic information for a target business entity;
defining business information for the target business entity; and
analyzing the demographic information and/or the business information to identify a proposed compensation plan for one or more performance-based employees of the target business entity.
30 . The computing system of claim 29 wherein defining demographic information for a target business entity includes:
receiving the demographic information from a data source.
31 . The computing system of claim 29 wherein defining demographic information for a target business entity includes:
manually defining the demographic information.
32 . The computing system of claim 29 wherein defining business information for the target business entity includes:
receiving the business information from a data source.
33 . The computing system of claim 29 wherein defining business information for the target business entity includes: manually defining the business information.
34 . The computing system of claim 29 wherein the target business entity is a business entity in the automotive space.
35 . The computing system of claim 6 wherein the automotive space includes 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; and
an automotive parts space.
36 . The computing system of claim 29 wherein the one or more performance-based employees are one or more performance-based sellers of products.
37 . The computing system of claim 29 wherein the one or more performance-based employees are one or more performance-based sellers of services.
38 . The computing system of claim 29 further comprising:
enabling a user to select the proposed compensation plan for the one or more performance-based employees of the target business entity.
39 . The computing system of claim 29 further comprising:
enabling a user to reject the proposed compensation plan for the one or more performance-based employees of the target business entity.
40 . The computing system of claim 29 further comprising:
enabling a user to modify the proposed compensation plan for the one or more performance-based employees of the target business entity.
41 . The computing system of claim 29 wherein analyzing the demographic information and/or the business information to identify a proposed compensation plan for one or more performance-based employees of the target business entity includes:
identifying one or more comparable business entities having similar demographic information and/or the business information;
identifying one or more business metrics for the one or more comparable business entities; and
identifying a proposed compensation plan for the one or more performance-based employees of the target business entity that is based, at least in part, upon the one or more business metrics.
42 . The computing system of claim 41 wherein the one or more business metrics includes one or more:
industry benchmarks;
compensation as a percentage of profit;
compensation as a percentage of overall sales;
compensation per unit sold;
quantity of units sold;
hours worked;
average units sold per employee;
compensation per hour sold;
compensation as a percentage of overall hours worked;
average gross profit per unit sold;
average gross profit per hour sold; and
employees as a percentage of overall sales.