The slide show below will provide readers with a roadmap for realizing the potential of their compensation programs through the use of ” Big Data.”
In our practice what we find new is the enhancement of our client’s human resources capabilities derived from the use of “big data.” Big data has enabled them to make better compensation decisions faster. One way it has accomplished this is by significantly improving their capacity to link compensation activities to talent management strategies and practices on a real time basis. Utilizing significantly improved data quality also enables them to fully realize the power of approaches and models such as those outlined in the slide presentation shown in our blog. We call them “value creating outcomes.” Prior to ‘big data” we could not fully capture the power of these tools. Now we are better able to help a client organization more effectively adapt to change triggers in their competitive environment. You can get more specific information on this topic in part IX of the brand new sixth Edition of The Compensation Handbook. It contains six chapters that relate ‘big data” to compensation practices.