Thursday, August 24, 2006

CompModel previewed at San Diego Compensation and Benefits Association meeting

The San Diego Compensation and Benefits Association (SDCBA) held their quarterly meeting yesterday in La Jolla. I was invited by the group to present the features of NextComp and CompModel. The topic was Compensation Technology - Real World Examples. I had 15 minutes to present so it was a quick pace. The group had a very positive reaction. There were a couple of “oh’s and ah’s”. Best of all they liked the price point.

Here is a 3 minute
Quicktime demo
that I presented at the meeting.

The demo shows the following:

  • Increasing the pay ranges by 3.2%
  • Moving all employee’s pay from below the minimum up to the minimum
  • Creating a “distribution model” for a new merit matrix (see explanation below)
  • Updating the model with the model merit matrix
  • Viewing a bar chart showing the current and model payroll totals by grade

The demo doesn’t have voice-over since I was there to walk through the steps.

The model distribution merit matrix is a great tool for planning a new merit matrix. The tool creates a model distribution of performance ratings and then applies a merit increase to the employee’s pay. It is accurate to within a couple of 10th of a percent. We’ve been using a similar tool in Excel for years, but this is much easier to work with than the formulas in Excel!

We’ll be creating several more thorough demos with voice-over in the next week.

It’s an exciting time at NextComp as we prepare to release CompModel for beta testing to a select group of companies. After a couple weeks of beta testing we’ll release the tool to the public for $99.00 a month.

Tuesday, August 01, 2006

COMPMODEL.NET's new blog home

We're getting close to launch time and we thought it a good idea to have a blog devoted to CompModel.

The blog will be devoted to other more general compensation and total rewards items.

We're excited, it's getting closer and the tool is looking great.

Keep checking back for more updates.