Compensation Management System and Method
A computer-implemented method, computer program product and computing system for: obtaining performance information for at least one performance-based employee; identifying a compensation plan for the performance-based employee of a business entity; calculating up-to-date compensation information for the performance-based employee based, at least in part, upon the performance information and the compensation plan; and providing the up-to-date compensation information to the at least one performance-based employee.
1 . A compensation management method, executed on a computing device, comprising:
obtaining performance information for at least one performance-based employee;
identifying a compensation plan for the performance-based employee of a business entity;
calculating up-to-date compensation information for the performance-based employee based, at least in part, upon the performance information and the compensation plan; and
providing the up-to-date compensation information to the at least one performance-based employee.
2 . The compensation management method of claim 1 wherein the business entity is a business entity in the automotive space.
3 . The compensation management method of claim 2 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.
4 . The compensation. management method of claim 1 . wherein the at least one performance-based employee is at least one performance-based seller of products. The compensation management method of claim 1 wherein the at least one performance-based employee is at least one performance-based seller of services.
6 . The compensation management method of claim 1 wherein the performance information includes sales performance information.
7 . The compensation management method of claim 6 wherein the sales performance information is obtained 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.
8 . The compensation management method of claim 1 wherein the performance information includes supplemental performance information.
9 . The compensation management method of claim 8 wherein the supplemental performance information is obtained 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.
10 . The compensation management method of claim 8 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.
11 . The compensation management method of claim 1 wherein providing the up-to-date compensation information to the at least one performance-based employee includes:
reactively providing the up-to-date compensation information to the at least one performance-based employee.
12 . The compensation management method of claim 11 wherein reactively providing the up-to-date compensation information to the at least one performance-based employee includes:
providing the up-to-date compensation information to the at least one performance-based employee in response to a request.
13 . The compensation management method of claim 1 wherein providing the up-to-date compensation information to the at least one performance-based employee includes:
proactively providing the up-to-date compensation information to the at least one performance-based employee.
14 . The compensation management method of claim 13 wherein proactively providing the up-to-date compensation information to the at least one performance-based employee includes:
providing the up-to-date compensation information to the at least one performance-based employee at a predefined interval.
15 . The compensation management method of claim 1 wherein the up-to-date compensation information includes compensation information that is current at the time that the up-to-date compensation information is provided to the at least one performance-based employee
16 . The compensation management method of claim 1 further comprising:
enabling the at least one performance-based employee to provide feedback concerning the up-to-date compensation information.
17 . 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:
obtaining performance information for at least one performance-based employee;
identifying a compensation plan for the performance-based employee of a business entity;
calculating up-to-date compensation information for the performance-based employee based, at least in part, upon the performance information and the compensation plan; and
providing the up-to-date compensation information to the at least one performance-based employee.
18 . The computer program product of claim 17 wherein the business entity is a business entity in the automotive space.
19 . The computer program product of claim 18 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.
20 . The computer program product of claim 17 wherein the at least one performance-based employee is at least one performance-based seller of products.
21 . The computer program product of claim 17 wherein the at least one performance-based employee is at least one performance-based seller of services.
22 . The computer program product of claim 17 wherein the performance information includes sales performance information.
23 . The computer program product of claim 22 wherein the sales performance information is obtained 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 17 wherein the performance information includes supplemental performance information.
25 . The computer program product of claim 24 wherein the supplemental performance information is obtained 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.
26 . The computer program product of claim 24 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.
27 . The computer program product of claim 17 wherein providing the up-to-date compensation information to the at least one performance-based employee includes:
reactively providing the up-to-date compensation information to the at least one performance-based employee.
28 . The computer program product of claim 27 wherein reactively providing the up-to-date compensation information to the at least one performance-based employee includes:
providing the up-to-date compensation information to the at least one performance-based employee in response to a request.
29 . The computer program product of claim 17 wherein providing the up-to-date compensation information to the at least one performance-based employee includes:
proactively providing the up--to--date compensation information to the at least one performance-based employee.
30 . The computer program product of claim 29 wherein proactively providing the up-to-date compensation information to the at least one performance-based employee includes:
providing the up-to-date compensation information to the at least one performance-based employee at a predefined interval.
31 . The computer program product of claim 17 wherein the up-to-date compensation information includes compensation information that is current at the time that the up-to-date compensation information is provided to the at least one performance-based employee,
32 . The computer program product of claim 17 further comprising:
enabling the at least one performance-based employee to provide feedback concerning the up-to-date compensation information.
33 . A computing system including a processor and memory configured to perform operations comprising:
obtaining performance information for at least one performance-based employee;
identifying a compensation plan for the performance-based employee of a business entity;
calculating up-to-date compensation information for the performance-based employee based, at least in part, upon the performance information and the compensation plan; and
providing the up-to-date compensation information to the at least one performance-based employee.
34 . The computing system of claim 33 wherein the business entity is a business entity in the automotive space.
35 . The computing system of claim 34 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 33 wherein the at least one performance-based employee is at least one performance-based seller of products.
37 . The computing system of claim 33 wherein the at least one performance-based employee is at least one performance-based seller of services.
38 . The computing system of claim 33 wherein the performance information includes sales performance information.
39 . The computing system of claim 38 wherein the sales performance information is obtained 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.
40 . The computing system of claim 33 wherein the performance information includes supplemental performance information.
41 . The computing system of claim 40 wherein the supplemental performance information is obtained 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.
42 . The computing system of claim 40 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.
43 . The computing system of claim 33 wherein providing the up-to-date compensation information to the at least one performance-based employee includes:
reactively providing the up-to-date compensation information to the at least one performance-based employee.
44 . The computing system of claim 43 wherein reactively providing the up-to-date compensation information to the at least one performance-based employee includes:
providing the up-to-date compensation information to the at least one performance-based employee in response to a request.
45 . The computing system of claim 33 wherein providing the up-to-date compensation information to the at least one performance-based employee includes: proactively providing the up-to-date compensation information to the at least one performance-based employee.
46 . The computing system of claim 45 wherein proactively providing the up-to-date compensation information to the at least one performance-based employee includes:
providing the up-to-date compensation information to the at least one performance-based employee at a predefined interval.
47 . The computing system of claim 33 wherein the up-to-date compensation information includes compensation information that is current at the time that the up-to-date compensation information is provided to the at least one performance-based employee.
48 . The computing system of claim 33 further comprising:
enabling the at least one performance-based employee to provide feedback concerning the up-to-date compensation information.