Short Term Incentives

Bring your STI management into the digital space

Calculate, optimize, forecast, and budget for short-term incentives with professional compensation software. Base your strategic decision on accurate data held in a central platform. We’ll advise you on solutions tailored to your particular needs.

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We implemented STI management software for 350 000+ employees worldwide

Our clients:

You may need short-term incentive software consulting if:

Excel spreadsheets mess

  • you have to track the performance for the short-term incentives manually
  • employees often request bonus payment explanations
  • employees challenge the STI bonus payment details
  • your STI data is held in multiple locations
  • you are calculating everything in Excel
  • multiple people can access the data (no access hierarchy)
  • mistakes in processes and calculations happen and are hard to spot
  • you can’t easily track the history of changes in your files
  • you don’t know which spreadsheet is the most current version
  • you spend too much time on repetitive tasks and manual data filling
  • you keep track of the bonus budgeting manually
  • it isn’t easy to forecast bonus payments
  • you have to calculate STI bonuses across multiple populations and currencies manually
  • you worry about data security

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Case studies

Implementation of beqom Total Compensation Management tool at Engie

Business type
Energy
Technology
beqom
Manual Labor Reduction
50%

Benefits of short-term incentive software

Analytics and reporting

Short-term incentive management can be quite overwhelming. Calculating all sorts of bonuses across myriads of positions, departments, divisions, and countries while adhering to the local policies and guidelines requires extensive resources and involves lots of spreadsheet juggling.

But a dedicated short-term incentive software does it in a matter of minutes. With no calculation mistakes and automated custom reports, the whole process becomes transparent. You’ll easily explain any questions an employee may have regarding their statements and save tons of time and stress dealing with employees challenging the bonus calculations as those cases will dramatically drop!

Performance tracking

Short-term incentive plans vary a lot. It used to be a simple annual cash bonus, but nowadays, more and more companies offer differentiated plans that include equity grants or deferred awards. Performance metrics have become increasingly complex, and it’s no longer just tracking financials - almost 70% of companies across the EU and the US use DEI and ESG metrics in their short-term incentive plans. At this point, managing it all in spreadsheets is simply inefficient and, frankly speaking, outdated. Professional short-term incentive software automatically tracks the performance and helps you manage all the metrics across various bonus plans. You’ll never have to wonder again if your data is up-to-date and whether you’ve considered all the metrics!

Accuracy and error reduction

We know that sinking feeling when you find out that your spreadsheets don’t match or that you know something’s wrong with the final number but are not sure what formula is wrong. With professional STI software, you can forget this feeling for good. Say hello to the single platform with trackable changes and the history of logs. Here, all the short-term incentive calculations are done through formulas set up with our implementation team. And you have full control of making any changes.

Planning and forecasting

How do you plan for bonuses if your data pops up in a bunch of separate sources scattered all over the place? With short-term incentive software, with one click of a button, you can download all your data - accurate and up to date - directly from the platform. Next, you set up predictive models that let you easily configure various plans and bonus forecasts. In a matter of seconds, you can modify the parameters to check out the alternative scenarios so that all your decisions are informed and based on facts, not guesswork!

Managing complexity

If you’re like a typical compensation professional, you spend most of your time managing complex bonus calculations, merging and separating files, and putting out fires. You probably feel this is a huge waste of time, but are not sure what to do about it. That’s ok, the STI software is just entering the mainstream. It’s a perfect time to replace your outdated and time-consuming methods with a modern system where you can gather, store, and analyze data in a matter of minutes! Now, you’ll have plenty of time to focus on what you’re called to - people and strategy.

Central platform

Have you ever wondered which spreadsheet version is the current one? Or how many more do you have to update once you make a small change? We know that if you store data in a couple of different systems, Excel sheets, Workday, or SAP, they will eventually differ. If you use professional short-term incentive software, all your data will be held in one centralized and unified platform. All updated and with a history of track changes. Stop juggling spreadsheets, and start performing bonus management effectively!

Budgeting

Have you ever set up the bonus plan and realized it’s over the budget? With modern software, you’ll never waste your time on such mistakes again. The program automatically calculates recommended awards and total compensation expenses as you enter the data. And in case you go over, you’ll get an automated notice right away.

Manage the adjustments to bonus eligibility and policy changes across various divisions, countries, and currencies. Know your current and future short-term incentives costs and plan scenarios based on past, current, and projected data. Make informed choices based on data-driven predictions, not assumptions!

Auditing and tracking changes

Imagine you’ll get audited tomorrow. Are you ready? If you’re like a typical HR professional, pulling the records from all your spreadsheet sources is already giving you a headache. But not if you use professional short-term incentive software. In a matter of minutes, you can print all the documentation needed for internal or external audits.

In addition, the software tracks all the changes made to the file. So that you access the most updated version but have a tracking history available at your fingertips. Take advantage of a full audit trail, separation of duties, and trackable logs.

Access hierarchy

With short-term incentives software, you can set up vertical and horizontal access hierarchies to your data across teams, divisions, and countries, as well as roles. This gives you full control over the bonus data visibility. No longer need to worry about accidental data leakage or unauthorized people viewing data they don’t have permission for. And forget about separating, merging, and blocking rows in Excel - you’ll never have to do it again.

Security

Have you ever heard of someone sending the wrong spreadsheet to the wrong person? Yup, we heard those stories as well. But in today’s world, the consequences of accidental data leakage could be dire. With the legal landscape becoming ever more complex, it’s hard to keep up with all the protection requirements. And spreadsheets no longer pass them.

We know that security is not an option - it’s a must. All the systems we implement have the highest security standards. We will advise you best options for cloud data hosts, their locations, and backup choices as well as access hierarchies and permissions.

See what short-term incentive software is right for you

STI-ImplementationProcess-Final

01

Design session

Our GGS team visits the client locally, and during a workshop that lasts a couple of days, we gather information regarding the requirements, goals, and expectations. The workshops aim to understand the current processes so that we can advise on the best solutions to streamline and organize the workflows.

02

Planning

We analyze the collected requirements and divide them into tasks ordered in time. We define the elements of the system, such as source data and calculation parameters. We end with the business and technical description of the tasks to be done.

03

Development

During this phase, we configure the software, perform internal tests, and set everything up following the agreed-upon plan. At GGS, we believe in efficient project management. We keep in touch with our clients on a sprint-by-sprint basis, making sure we deliver a valued product and exceptional service. As avid practitioners of the Agile methodology, we leveraged collaboration, constant focus on business value, and attention to service quality to anticipate our client’s needs and exceed their expectations.

04

User Acceptance Testing

At this point, users on the client’s side test the solution in a controlled environment. We observed that time is of the essence to our clients. This is why we developed elaborate internal testing procedures, during which we catch and fix most of the bugs on our own so that the UAT phase for clients is smooth and quick, lasting around 2 to 4 weeks.

05

Support

Once the solution is rolled out to the production and users on the client’s side work on real data in an uncontrolled environment, we are still available to help. If you have any questions regarding the program, how to access some features, or you’re not sure if it works correctly, our support team will guide you and fix any issues that may come up. Our clients also often approach us at this point for advice on how they may improve and streamline their processes further.

Compensation processes we focus on:

Short-term incentives

Short-term incentives (STI)

We will help you set up, define, simulate, and calculate short-term incentives and annual bonuses at your company. Optimize the process with an automated budgeting, performance metrics tracking, and achievement timeline supervision. Provide your employees with personalized reports and corporate and regulatory guidelines for clear and transparent rewarding practices.

Short-term incentives, next to the fixed salary and LTIPs, are the core elements of performance-based compensation for the executives and upper management of modern companies. STI bonus motivates your key decision-makers to achieve your company’s strategic goals in the short-term perspective.

Don’t let the lack of technology limit you in the creative and attractive annual bonus design and implementation!

Long-term incentives

Long-term incentives (LTI)

Intricacies of long-term incentive plans are notorious. We will help you choose the right software to streamline the calculations of the deferred bonus over multiple plans with varying vesting periods, performance metrics, payout vehicles, and tranches. You’d be able to simulate and visualize the data and history of the bonus accrual and track the associated expenses so that everything is in line with your company’s policy and budgeting.

Long-term incentives, next to the fixed salary and LTIPs, are the core elements of performance-based compensation for the executives and upper management of modern companies. They help align your key decision-makers’ goals with the company’s long-term strategic objectives. LTIPs also play a crucial role in key talent attraction and retention.

Don’t let the lack of technology limit you in the creative and attractive LTIP design and implementation.

 Executive Compensation Manangement

Executive compensation management

Aligning the personal goals of the executives with the company strategy while providing an attractive and competitive pay schema determines the intricate nature of the executive compensation package.

We will help you manage the complexities of executive compensation with appropriate software so that your data is secure, updated, and available to be viewed by the award recipient anytime.

Don’t let technology limit you in attractive executive compensation design.

Salary and Merit Review

Salary and merit review

Are you dreading the end-of-the-year salary and comp review - a daunting task that haunts you cyclically? Pulling together all the salary and market data, assessing performance, productivity, engagement, and determining all sorts of bonuses and raises across myriads of positions, departments, divisions, and countries while adhering to local policies and guidelines can be overwhelming. Imagine that it all could be automated and managed in real time. All the information in one place linked to market data for competitive benchmarking. Transparent yet secure, accessible yet trackable.

Let us help you optimize the salary review so that you can focus on the creative aspects instead of getting sidetracked by the technicalities of the process!

Budgeting

Budgeting and planning

Changes in headcount, compensation policies and currency exchange rates make compensation management at times difficult. Our consultants will help you choose solutions that integrate planning, forecasting, and budgeting processes across various divisions, countries, and currencies. You’ll easily manage the current staff costs, know when you are reaching the budget, and be able to plan and forecast future scenarios based on past, current, and projected data. And you’ll always have fresh and accurate data ready to submit to the Finance Department.

Make informed choices based on data-driven predictions, not assumptions!

Equal Pay

Equal pay

How do you make sure you don’t have any pay gaps? How do you remedy the identified ones? The software we implement lets you analyze in detail the compensation across gender, race, age, job grade, performance, tenure, and location. You’ll create comparator peer groups, benchmark your employee data both internally and against external markets, identify the outliers, and benefit from AI, which can help you find the root cause of pay differences, create remedial budgets, and predict and prevent future gaps. Our consultants will show you that ensuring fair and compliant compensation is easy!

Identify risks before they are problems, and keep your employees happy with pay equity!

Sales Incentives Plan

Sales incentive plan (SIP)

Calculating periodically the payouts for your employee’s sales incentive plans - is there something more daunting? Quotas, achievement rates, payout curves, targets, sales information… are you still tracking it all in Excel?

Software solutions we implement help you eliminate the burden of these complex multi-level calculations beyond mere computation. Benefit from real-time performance and sales reporting, use advanced analytics to simulate different scenarios and finish everything right on time, knowing it’s been correctly calculated so that your salespeople focus on selling instead of disputing their statements.

Choose the right solution for your particular sales incentive plan!

Bonus Management

Bonus management

We will help you set up, define, simulate, and calculate all types of bonuses at your company. Optimize your processes with controlled bugdeting, compute merit-based recognition bonuses, track metrics for performance awards, and automate the management of all sorts of one-time or cyclical awards across your departments and divisions. Provide your employees with personalized reports, and corporate and regulatory guidelines based on the country of operation for clear and transparent rewarding practices.

Don’t let the lack of technology limit you in the creative and attractive bonus design and implementation!

Individual compensation planning and reporting

Individual compensation planning and reporting

Software solutions we implement allow you to take a holistic view of an employee through the compensation history, performance, and benchmarking so that you can create a personalized motivational plan to align the particular individuals with your company’s strategic objectives. Take advantage of the AI-backed recommendations based on targets that you can modify and come prepared to any compensation discussions.

I want automated reporting and compensation planning.

Job architecture and benchmarking

Job architecture and benchmarking

With modern compensation management software, you’ll no longer need to rely on external consultants to set up job architecture. The solutions we implement let you easily upload and analyze data from various benchmarking sources so that you can arrange the position structure, group data for pay analysis, and prepare the payscale yourself! And that will take you a couple of days, not months. Next, you simply set up the parameters for comparator groups and you can benchmark internally and to external markets with ease.

Avoid the hassle of hiring external consultants and save months by setting up job architecture in the professional compensation software!

What our clients are saying:

Highly recommendable!

GGS IT Consulting has supported E.ON in setting up and running the LTI of the compensation and benefits application. We've got to know them as a very professional, proactive, and trusted partner who always delivers on their promise. They are not only technically very capable, but also understand the business context. We are very satisfied with GGS IT Consulting and I highly recommend them.

Juan Brea Piket
Head of Reward&Global Mobility E.ON SE

Excellent services!

GGS IT Consulting team has been working with LocalTapiola-group HR Sales Compensation team from early 2019 and has been providing Sales Compensation process design, solution architecture, data integration and implementation services. I am confident about the services of GGS IT Consulting team and I can surely recommend the services.

Jari Collan
Director Compensation and Benefits

Great experience

After several months of cooperation in the area of process automation and data, we can confirm that GGS is a professional IT company, helpful in managing our Business Process Automation Platform. GGS team is efficient and reliable, always ready to offer support, and we can recommend them as a business partner.

Michał Gulewicz
IT Manager at Saint-Gobain

Let’s talk about your project

Why choose GGS IT Consulting?

01
Years of Experience. We have worked with 30+ clients across the globe and digitized 200+ processes with a 100% project success implementation rate. Our clients saved over 300 000+ hours of repetitive work.
02
International Projects. OUr clients come from Europe, the Americas, Asia. Many of them are repeat customers. We'll make it easy working across different time-zones and cultures.
03
Differentiated Client Profiles. We work with a whole range of customers, from medium to enterprise-size companies. We'll advise you on solutions tailored to your current stage, size, and strategy.
04
Unique Approach. At GGS we believe in efficient project management. We leverage collaboration, excellent communication, constant focus on business value, and attention to service quality to anticipate our client's needs and exceed their expectations.
45
Enterprise scale projects delivered
100%
Project implementation success rate
300 000+
Hours saved for our clients
550 000+
Employees benefitted from our software implementation services

STI bonus software implementation FAQ:

What do your consultants do?

Our team provides a broad range of services including auditing your current short-term incentive compensation management practices and software to determine possible improvements, optimizations, and process enhancements fitted to your unique situation.

After having implemented over 30+ enterprise projects, our consultants possess extensive business knowledge and understanding of various compensation processes. We have seen a variety of compensation plans, workflows, and approaches, as well as solutions to common challenges. At GGS we take the holistic approach where we look at the way your workflows are organized, the logic behind the processes, platforms used and the total execution of the compensation management. Our consultants are happy to share our knowledge with you to streamline and improve the processes at your company.

How much do your services cost?

Each project is unique, and therefore, it deserves a uniquely tailored approach. Our team will help you select the most cost-effective option based on your particular needs. In the past, we were able to optimize costs for each of our clients so that the software implementation was profitable to the company in a relatively short time.

In general, we observed that the cost of not having professional software solutions is larger than the cost of the system’s implementation and support. Think about the cost of new hirers needed to replace unsatisfied employees, the costly mistakes easy to make in a spreadsheet, or data leakage and the risk of associated lawsuits.

Contact us for a short appointment, and based on a few questions, we’ll present you with the most fitting options.

How long does it take to implement STI software?

Each project is different and depends on the company size, the scale, and complexity of the project as well as selected services. Typically, it takes around a month to a couple of months for our team to finish the implementation.

When can we start with short-term incentive software consulting?

Any time is good to start the STI software consulting. Whether you are considering a new implementation, thinking of re-implementation, or just optimization of the current processes, we are ready to help at any stage. We can work with your compensation calendar to accommodate your timeliness. Just contact us and tell us about your project.

My short-term incentive plans are very unique, will you be able to help me?

The software solutions we implement are highly customizable. Tell us about your situation - we’re up for the challenge!

Is this software difficult to use?

We only implement modern and professional software solutions. These systems are designed to be user-friendly and intuitional. Each system also comes with a set of trainings and our company provides continued support in the post-implementation phase.

Is this software secure and compliant?

We only implement systems with the highest security standards. Our consultants advise best options for cloud data hosts, their locations, and backup choices as well as access hierarchies and permissions.

GGS IT and our partners are ISO and SOC-compliant, and the software we implement also adheres to GDPR standards.

Is my company too small for this project?

The professional STI bonus software is designed to manage the more complex processes usually found at the middle to enterprise-size companies. If you are not sure whether that applies to your case, contact us and during a short conversation we’ll tell you if the implementation of such software at your company makes sense.

Is this software only for short-term incentives?

The software we implement is configurable. This means that if you only want to automate your short-term incentive processes that can be done, but if you’d like to add other compensation management elements such as salary review, LTIPs, budgeting, variable pay or any other we can integrate those into one central platform as well.

Talk to our experts

Lets work togetherMateusz TajakBusiness Development Manager
+48 511 986 775

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