What Is Incentive Pay Tracking?
Incentive Pay is a ShopVue add-on for calculating incentive earnings based on your own unique form of compensation, pay rules, and policies. Incentive Pay Tracking:
- Eliminates time-consuming and error-prone spreadsheets
- Automatically calculates earnings based on efficiency, not hours worked
- Allows managers to specify an average rate for jobs that don’t utilize incentive
- Feeds your payroll system for gross-to-net processing
- Works with many different payroll systems
- Motivates employees with real-time access to actual dollars earned
- Can override standard calculations to address your organizations complex rules
Why Do I Need Automated Incentive Pay?
With Incentive Pay, you can ensure your employees earn at least minimum wage or their base rate. Operators perform their normal ShopVue transactions with rate changes and incentive calculations occurring seamlessly in the background (and subject to supervisor approval as needed). There are also features for Make-Up Pay, and Average Pay, for special circumstances such as material problems and training for new employees.
How Do We Measure Its Value?
The Incentive Pay Tracking add-on module extends ShopVue’s functionality to support this form of compensation, reducing your payroll workload and eliminating pay errors. Your employees are your most valuable resource, and ensuring that they are compensated appropriately, and with transparency, is critical to motivating employees. At the same time, minimizing payroll overhead increases operational efficiency and reduces administrative costs.