Question: Respond to both 250 words each and ref, APA
Money155: Technology has helped companies and leaders manage compensation and benefits by making it easier to process HR benefits from one integrated system instead of multiple systems. Employees can enroll or change their benefits from their own computers and managers can track those changes using the same system. HRIS increase the efficiency and response times compared to the traditional system. Managers using HRIS can decrease the time it takes to process pay and benefits allowing for more time to help run the organization, but, still be able to track the employees benefits and compensation. The HRIS the government uses EBIS allows employees to enter or change benefits, sign up for TSP and change allowances, track personnel records and pay. Mangers can upload awards and/or raises and evaluations from the same system. (John M. Ivancevich, 2013, pp. 139-141)
Money156: technology can help companies and leaders with compensation, benefit plans, and associated costs by managing everything in one place. By using specialized software, they can not only cut costs but make it easier for HR and the employee as well. Benefits programs can be easily accessible for the employee, thus reducing the load on HR employees. By fine-tuning their processes, the company can save a substantial amount of money in the long run. In the textbook, the example of Chevron is used. What once took the use of 200 different systems is now all in one place. This has been estimated to save Chevron $2000 per employee, and adds up quickly with their 50,000 current employees (Ivancevich, 2013). Managing compensation relates to managerial goals because it keeps employees happy and cuts cost for the entire company. The HRIS that I thought was interesting was Executive Information Systems. In this HRIS, upper executives have direct communication with management. When there is a change in compensation and benefits, employees will know quickly because management is getting their information straight from the decision-making executives. Executives can also use this to get a day-to-day view of what is going on in the company and what works and what doesn't. Information can be processed quickly, trends can be identified, and the company can avoid making costly mistakes.