Top Dog's Pay Master system accurately and effectively calucates employee variable compensation.
Top Dog has been working with organizations in the tire and automotive industry for well over ten years. Our initial mission was to provide quality reporting solutions, but along the way we have seen a common problem that many organizations are facing - how to effectively calculate the variable compensation of their employees. Top Dog has developed the Pay Master system to address the many problems in calculating and reporting employee wages. Pay Master is an integrated system designed to expedite and alleviate the hassle of manually calculating the earnings for each individual employee while also providing detailed analysis and oversight.
Companies in the tire and automotive industry have a variety of ways and procedures on how employees are paid. Wages can be based on a combination of many different things:
- Spiffs on sales
- Spiffs on recommendations
- Sales commissions
- Fee for specific work performed
- Bonus for labor hours worked
- Bonus for labor amount billed
- Bonus could be the greater of their hourly pay versus labor amount billed
- Sales commissions subject to either sales thresholds or gross profit thresholds
- Impact of overtime hours on variable compensation
Calculating variable compensation by hand is a time consuming process. Collecting data, reviewing reports and determining earnings for each individual employee for every pay cycle wastes valuable time. Organizations can gather and process information on either a daily, weekly, bi-weekly or monthly basis. This process, on an annual basis, consumes hundreds of non-productive hours by store managers, service managers and the payroll staff.
With little or no oversight, the manual process is fraught with inaccuracies and the possibility of malfeasance. Typically, at the end of each pay cycle, employees see a single lump sum amount that represents their variable compensation on their paycheck with no information as to how it was earned. When you consider that payroll is the single largest expense incurred by tire related organizations and that a medium size organization might easily pay out hundreds of thousands of dollars in variable compensations, a better solution is needed
Top Dog's Pay Master system provides a structured environment that accurately and effectively calculates employees' variable compensations along with the required oversight and analysis. The Pay Master system integrates information harvested from any point of sales system, any timekeeping system and any payroll service. This system also offers detailed reporting that helps track employee and sales information.
Using an established set of rules and rates specifically for your organization, Pay Master provides a controlled process to calculate variable compensations for individual employees, departments and store locations. Automatically generated incentive plans provide a detailed outline of all possible employee variable compensations.
The Pay Master system provides detailed reports accessible by managers and optionally to employees. Daily reports track spiffs and calculate month to date earnings for individual employees. Management is easily able to review and modify employee's daily incentives. The payroll department is able to process variable compensation in a matter of minutes as opposed to hours. With a single click, employee's incentives can be reviewed and approved. The approval process can vary depending on your organization's needs and can be reviewed daily, weekly or monthly.
At the end of every pay cycle, Pay Master provides a complete breakdown of earnings. Employees receive a complete summary of wages, commissions, overtime hours, vacation time and other bonuses compiled from an organization's point of sales system, time keeping system and incentive reports. Employees no longer see a lump sum on their paychecks, but a complete overview of their wages.
Top Dog's Pay Master system offers organizations a controlled method for calculating variable compensations for employees. Pay Master uses an established algorithm to accurately calculate incentives. Top Dog's Pay Master system will save your organization time and money by doing the hard work for you.