U.S. patent application number 16/863692 was filed with the patent office on 2020-11-05 for compensation management system and method.
The applicant listed for this patent is Sean T. Cacace, Cynthia Chen, Travis J. Haley, Zane R. Heninger, MICHAEL J. PHILLIPS, Michael C. Smith. Invention is credited to Sean T. Cacace, Cynthia Chen, Travis J. Haley, Zane R. Heninger, MICHAEL J. PHILLIPS, Michael C. Smith.
Application Number | 20200349524 16/863692 |
Document ID | / |
Family ID | 1000004839727 |
Filed Date | 2020-11-05 |
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United States Patent
Application |
20200349524 |
Kind Code |
A1 |
PHILLIPS; MICHAEL J. ; et
al. |
November 5, 2020 |
COMPENSATION MANAGEMENT SYSTEM AND METHOD
Abstract
A computer-implemented method, computer program product and
computing system for: enabling a user to define a compensation plan
for a performance-based employee; obtaining performance information
for the performance-based employee, wherein the performance
information includes supplemental performance information; and
calculating compensation information for the performance-based
employee based, at least in part, upon the performance information
and the compensation plan.
Inventors: |
PHILLIPS; MICHAEL J.;
(Englewood, CO) ; Smith; Michael C.; (Lone Tree,
CO) ; Chen; Cynthia; (Denver, CO) ; Haley;
Travis J.; (Centennial, CO) ; Cacace; Sean T.;
(Denver, CO) ; Heninger; Zane R.; (Denver,
CO) |
|
Applicant: |
Name |
City |
State |
Country |
Type |
PHILLIPS; MICHAEL J.
Smith; Michael C.
Chen; Cynthia
Haley; Travis J.
Cacace; Sean T.
Heninger; Zane R. |
Englewood
Lone Tree
Denver
Centennial
Denver
Denver |
CO
CO
CO
CO
CO
CO |
US
US
US
US
US
US |
|
|
Family ID: |
1000004839727 |
Appl. No.: |
16/863692 |
Filed: |
April 30, 2020 |
Related U.S. Patent Documents
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Application
Number |
Filing Date |
Patent Number |
|
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62840959 |
Apr 30, 2019 |
|
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Current U.S.
Class: |
1/1 |
Current CPC
Class: |
G06Q 10/1057 20130101;
G06Q 10/06398 20130101 |
International
Class: |
G06Q 10/10 20060101
G06Q010/10; G06Q 10/06 20060101 G06Q010/06 |
Claims
1. A compensation management method, executed on a computing
device, comprising: enabling a user to define a compensation plan
for a performance-based employee; obtaining performance information
for the performance-based employee, wherein the performance
information includes supplemental performance information; and
calculating compensation information for the performance-based
employee based, at least in part, upon the performance information
and the compensation plan.
2. The compensation management method of claim 1 wherein obtaining
performance information for the performance-based employee
includes: obtaining the supplemental performance information from
one or more of: a social media platform, an external rating
platform, an internal rating platform, an inventory management
platform, a human resource management platform, a proprietary data
feed, a proprietary data file, a proprietary datastore,
manually-entered data, and a business analytics platform.
3. The compensation management method of claim 1 wherein the
supplemental performance information includes one or more of: an
inventory age indicator; a minimum wage indicator; an hours worked
indicator; an employment history indicator; a customer feedback
indicator; an economic indicator; a team rating indicator; an
individual rating indicator; and an organization rating
indicator.
4. The compensation management method of claim 1 wherein the
performance-based employee is a performance-based employee within
one or more of: an automotive sales space; an automotive service
space; an automotive body shop space; an automotive finance &
insurance space; an automotive administrative space; an automotive
franchisor space; an automotive parts space; a retail space; a
healthcare space; a financial space; a manufacturing space; a
hospitality space; a travel space; a pharmaceutical space; a
technology space; and a real estate space.
5. The compensation management method of claim 1 wherein the
performance-based employee is a performance-based seller of
products.
6. The compensation management method of claim 1 wherein the
performance-based employee is a performance-based seller of
services.
7. The compensation management method of claim 1 wherein enabling a
user to define a compensation plan for a performance-based employee
includes: enabling the user to define the compensation plan for the
performance-based employee by selecting the compensation plan from
a plurality of available compensation plans.
8. The compensation management method of claim 1 wherein enabling a
user to define a compensation plan for the performance-based
employee includes: enabling the user to define a bespoke
compensation plan for the performance-based employee.
9. The compensation management method of claim 1 wherein the
performance information includes sales performance information.
10. The compensation management method of claim 9 wherein obtaining
performance information for the performance-based employee
includes: obtaining the sales performance information from one or
more of: a customer relationship management platform, an inventory
management platform, an accounting platform, a proprietary data
feed, a proprietary data file, a proprietary datastore,
manually-entered data, and a dealership management platform.
11. The compensation management method of claim 1 further
comprising: providing the compensation information for the
performance-based employee to a payroll platform.
12. The compensation management method of claim 1 further
comprising: providing the compensation information for the
performance-based employee to a dealership management platform.
13. The compensation management method of claim 1 wherein obtaining
performance information for the performance-based employee includes
one or more of: selectively excluding one or more performance
indicators; and selectively devaluing one or more performance
indicators.
14. A computer program product residing on a computer readable
medium having a plurality of instructions stored thereon which,
when executed by a processor, cause the processor to perform
operations comprising: enabling a user to define a compensation
plan for a performance-based employee; obtaining performance
information for the performance-based employee, wherein the
performance information includes supplemental performance
information; and calculating compensation information for the
performance-based employee based, at least in part, upon the
performance information and the compensation plan.
15. The computer program product of claim 14 wherein obtaining
performance information for the performance-based employee
includes: obtaining the supplemental performance information from
one or more of: a social media platform, an external rating
platform, an internal rating platform, an inventory management
platform, a human resource management platform, a proprietary data
feed, a proprietary data file, a proprietary datastore,
manually-entered data, and a business analytics platform.
16. The computer program product of claim 14 wherein the
supplemental performance information includes one or more of: an
inventory age indicator; a minimum wage indicator; an hours worked
indicator; an employment history indicator; a customer feedback
indicator; an economic indicator; a team rating indicator; an
individual rating indicator; and an organization rating
indicator.
17. The computer program product of claim 14 wherein the
performance-based employee is a performance-based employee within
one or more of: an automotive sales space; an automotive service
space; an automotive body shop space; an automotive finance &
insurance space; an automotive administrative space; an automotive
franchisor space; an automotive parts space; a retail space; a
healthcare space; a financial space; a manufacturing space; a
hospitality space; a travel space; a pharmaceutical space; a
technology space; and a real estate space.
18. The computer program product of claim 14 wherein the
performance-based employee is a performance-based seller of
products.
19. The computer program product of claim 14 wherein the
performance-based employee is a performance-based seller of
services.
20. The computer program product of claim 14 wherein enabling a
user to define a compensation plan for a performance-based employee
includes: enabling the user to define the compensation plan for the
performance-based employee by selecting the compensation plan from
a plurality of available compensation plans.
21. The computer program product of claim 14 wherein enabling a
user to define a compensation plan for the performance-based
employee includes: enabling the user to define a bespoke
compensation plan for the performance-based employee.
22. The computer program product of claim 14 wherein the
performance information includes sales performance information.
23. The computer program product of claim 22 wherein obtaining
performance information for the performance-based employee
includes: obtaining the sales performance information from one or
more of: a customer relationship management platform, an inventory
management platform, an accounting platform, a proprietary data
feed, a proprietary data file, a proprietary datastore,
manually-entered data, and a dealership management platform.
24. The computer program product of claim 14 further comprising:
providing the compensation information for the performance-based
employee to a payroll platform.
25. The computer program product of claim 14 further comprising:
providing the compensation information for the performance-based
employee to a dealership management platform.
26. The computer program product of claim 14 wherein obtaining
performance information for the performance-based employee includes
one or more of: selectively excluding one or more performance
indicators; and selectively devaluing one or more performance
indicators.
27. A computing system including a processor and memory configured
to perform operations comprising: enabling a user to define a
compensation plan for a performance-based employee; obtaining
performance information for the performance-based employee, wherein
the performance information includes supplemental performance
information; and calculating compensation information for the
performance-based employee based, at least in part, upon the
performance information and the compensation plan.
28. The computing system of claim 27 wherein obtaining performance
information for the performance-based employee includes: obtaining
the supplemental performance information from one or more of: a
social media platform, an external rating platform, an internal
rating platform, an inventory management platform, a human resource
management platform, a proprietary data feed, a proprietary data
file, a proprietary datastore, manually-entered data, and a
business analytics platform.
29. The computing system of claim 27 wherein the supplemental
performance information includes one or more of: an inventory age
indicator; a minimum wage indicator; an hours worked indicator; an
employment history indicator; a customer feedback indicator; an
economic indicator; a team rating indicator; an individual rating
indicator; and an organization rating indicator.
30. The computing system of claim 27 wherein the performance-based
employee is a performance-based employee within one or more of: an
automotive sales space; an automotive service space; an automotive
body shop space; an automotive finance & insurance space; an
automotive administrative space; an automotive franchisor space; an
automotive parts space; a retail space; a healthcare space; a
financial space; a manufacturing space; a hospitality space; a
travel space; a pharmaceutical space; a technology space; and a
real estate space.
31. The computing system of claim 27 wherein the performance-based
employee is a performance-based seller of products.
32. The computing system of claim 27 wherein the performance-based
employee is a performance-based seller of services.
33. The computing system of claim 27 wherein enabling a user to
define a compensation plan for a performance-based employee
includes: enabling the user to define the compensation plan for the
performance-based employee by selecting the compensation plan from
a plurality of available compensation plans.
34. The computing system of claim 27 wherein enabling a user to
define a compensation plan for the performance-based employee
includes: enabling the user to define a bespoke compensation plan
for the performance-based employee.
35. The computing system of claim 27 wherein the performance
information includes sales performance information.
36. The computing system of claim 35 wherein obtaining performance
information for the performance-based employee includes: obtaining
the sales performance information from one or more of: a customer
relationship management platform, an inventory management platform,
an accounting platform, a proprietary data feed, a proprietary data
file, a proprietary datastore, manually-entered data, and a
dealership management platform.
37. The computing system of claim 27 further comprising: providing
the compensation information for the performance-based employee to
a payroll platform.
38. The computing system of claim 27 further comprising: providing
the compensation information for the performance-based employee to
a dealership management platform.
39. The computing system of claim 27 wherein obtaining performance
information for the performance-based employee includes one or more
of: selectively excluding one or more performance indicators; and
selectively devaluing one or more performance indicators.
Description
RELATED APPLICATION(S)
[0001] This application claims the benefit of U.S. Provisional
Application No. 62/840,959, filed on 30 Apr. 2019, the entire tents
of which is herein incorporated by reference.
TECHNICAL FIELD
[0002] This disclosure relates to management systems and, more
particularly, to compensation management systems for
performance-based employees.
BACKGROUND
[0003] In business, employees are often compensated based upon
performance. For example, people that assemble items may be paid
based upon the quantity of items that they assemble. Additionally,
salespeople may be compensated based upon the value of the products
that they are selling. These performance-based employees are often
compensated based upon a commission, wherein e.g., they may earn X
% of whatever they sell, or Y % of the profit of whatever they
sell.
[0004] Unfortunately, it is often difficult for these
performance-based employees (and the organizations for which they
work) to keep track off and stay current with respect to the
earnings/compensation of these employees.
SUMMARY OF DISCLOSURE
Concept #2
[0005] In one implementation, a compensation management method is
executed on a computing device and includes: enabling a user to
define a compensation plan for a performance-based employee;
obtaining performance information for the performance-based
employee, wherein the performance information includes supplemental
performance information; and calculating compensation information
for the performance-based employee based, at least in part, upon
the performance information and the compensation plan.
[0006] One or more of the following features may be included.
Obtaining performance information for the performance-based
employee may include: obtaining the supplemental performance
information from one or more of: a social media platform, an
external rating platform, an internal rating platform, an inventory
management platform, a human resource management platform, a
proprietary data feed, a proprietary data file, a proprietary
datastore, manually-entered data, and a business analytics
platform. The supplemental performance information may include one
or more of: an inventory age indicator; a minimum wage indicator;
an hours worked indicator; an employment history indicator; a
customer feedback indicator; an economic indicator; a team rating
indicator; an individual rating indicator; and an organization
rating indicator. The performance-based employee may be a
performance-based employee within one or more of: an automotive
sales space; an automotive service space; an automotive body shop
space; an automotive finance & insurance space; an automotive
administrative space; an automotive franchisor space; an automotive
parts space; a retail space; a healthcare space; a financial space;
a manufacturing space; a hospitality space; a travel space; a
pharmaceutical space; a technology space; and a real estate space.
The performance-based employee may be a performance-based seller of
products. The performance-based employee may be a performance-based
seller of services. Enabling a user to define a compensation plan
for a performance-based employee may include: enabling the user to
define the compensation plan for the performance-based employee by
selecting the compensation plan from a plurality of available
compensation plans. Enabling a user to define a compensation plan
for the performance-based employee may include: enabling the user
to define a bespoke compensation plan for the performance-based
employee. The performance information may include sales performance
information. Obtaining performance information for the
performance-based employee may include: obtaining the sales
performance information from one or more of: a customer
relationship management platform, an inventory management platform,
an accounting platform, a proprietary data feed, a proprietary data
file, a proprietary datastore, manually-entered data, and a
dealership management platform. The compensation information for
the performance-based employee may be provided to a payroll
platform. The compensation information for the performance-based
employee may be provided to a dealership management platform.
Obtaining performance information for the performance-based
employee may include one or more of: selectively excluding one or
more performance indicators; and selectively devaluing one or more
performance indicators.
[0007] In another implementation, a computer program product
resides on a computer readable medium and has a plurality of
instructions stored on it. When executed by a processor, the
instructions cause the processor to perform operations including:
enabling a user to define a compensation plan for a
performance-based employee; obtaining performance information for
the performance-based employee, wherein the performance information
includes supplemental performance information; and calculating
compensation information for the performance-based employee based,
at least in part, upon the performance information and the
compensation plan.
[0008] One or more of the following features may be included.
Obtaining performance information for the performance-based
employee may include: obtaining the supplemental performance
information from one or more of: a social media platform, an
external rating platform, an internal rating platform, an inventory
management platform, a human resource management platform, a
proprietary data feed, a proprietary data file, a proprietary
datastore, manually-entered data, and a business analytics
platform. The supplemental performance information may include one
or more of: an inventory age indicator; a minimum wage indicator;
an hours worked indicator; an employment history indicator; a
customer feedback indicator; an economic indicator; a team rating
indicator; an individual rating indicator; and an organization
rating indicator. The performance-based employee may be a
performance-based employee within one or more of: an automotive
sales space; an automotive service space; an automotive body shop
space; an automotive finance & insurance space; an automotive
administrative space; an automotive franchisor space; an automotive
parts space; a retail space; a healthcare space; a financial space;
a manufacturing space; a hospitality space; a travel space; a
pharmaceutical space; a technology space; and a real estate space.
The performance-based employee may be a performance-based seller of
products. The performance-based employee may be a performance-based
seller of services. Enabling a user to define a compensation plan
for a performance-based employee may include: enabling the user to
define the compensation plan for the performance-based employee by
selecting the compensation plan from a plurality of available
compensation plans. Enabling a user to define a compensation plan
for the performance-based employee may include: enabling the user
to define a bespoke compensation plan for the performance-based
employee. The performance information may include sales performance
information. Obtaining performance information for the
performance-based employee may include: obtaining the sales
performance information from one or more of: a customer
relationship management platform, an inventory management platform,
an accounting platform, a proprietary data feed, a proprietary data
file, a proprietary datastore, manually-entered data, and a
dealership management platform. The compensation information for
the performance-based employee may be provided to a payroll
platform. The compensation information for the performance-based
employee may be provided to a dealership management platform.
Obtaining performance information for the performance-based
employee may include one or more of: selectively excluding one or
more performance indicators; and selectively devaluing one or more
performance indicators.
[0009] In another implementation, a computing system includes a
processor and memory is configured to perform operations including:
enabling a user to define a compensation plan for a
performance-based employee; obtaining performance information for
the performance-based employee, wherein the performance information
includes supplemental performance information; and calculating
compensation information for the performance-based employee based,
at least in part, upon the performance information and the
compensation plan.
[0010] One or more of the following features may be included.
Obtaining performance information for the performance-based
employee may include: obtaining the supplemental performance
information from one or more of: a social media platform, an
external rating platform, an internal rating platform, an inventory
management platform, a human resource management platform, a
proprietary data feed, a proprietary data file, a proprietary
datastore, manually-entered data, and a business analytics
platform. The supplemental performance information may include one
or more of: an inventory age indicator; a minimum wage indicator;
an hours worked indicator; an employment history indicator; a
customer feedback indicator; an economic indicator; a team rating
indicator; an individual rating indicator; and an organization
rating indicator. The performance-based employee may be a
performance-based employee within one or more of: an automotive
sales space; an automotive service space; an automotive body shop
space; an automotive finance & insurance space; an automotive
administrative space; an automotive franchisor space; an automotive
parts space; a retail space; a healthcare space; a financial space;
a manufacturing space; a hospitality space; a travel space; a
pharmaceutical space; a technology space; and a real estate space.
The performance-based employee may be a performance-based seller of
products. The performance-based employee may be a performance-based
seller of services. Enabling a user to define a compensation plan
for a performance-based employee may include: enabling the user to
define the compensation plan for the performance-based employee by
selecting the compensation plan from a plurality of available
compensation plans. Enabling a user to define a compensation plan
for the performance-based employee may include: enabling the user
to define a bespoke compensation plan for the performance-based
employee. The performance information may include sales performance
information. Obtaining performance information for the
performance-based employee may include: obtaining the sales
performance information from one or more of: a customer
relationship management platform, an inventory management platform,
an accounting platform, a proprietary data feed, a proprietary data
file, a proprietary datastore, manually-entered data, and a
dealership management platform. The compensation information for
the performance-based employee may be provided to a payroll
platform. The compensation information for the performance-based
employee may be provided to a dealership management platform.
Obtaining performance information for the performance-based
employee may include one or more of: selectively excluding one or
more performance indicators; and selectively devaluing one or more
performance indicators.
[0011] The details of one or more implementations are set forth in
the accompanying drawings and the description below. Other features
and advantages will become apparent from the description, the
drawings, and the claims.
BRIEF DESCRIPTION OF THE DRAWINGS
[0012] FIG. 1 is a diagrammatic view of a distributed computing
network including a computing device that executes a compensation
management process according to an embodiment of the present
disclosure;
[0013] FIG. 2 is a diagrammatic view of the compensation management
process of FIG. 1 interfaced with a plurality of external systems
according to an embodiment of the present disclosure;
[0014] FIG. 3 is a flowchart of an implementation of the
compensation management process of FIG. 1 according to an
embodiment of the present disclosure;
[0015] FIG. 4 is a flowchart of an implementation of the
compensation management process of FIG. 1 according to an
embodiment of the present disclosure;
[0016] FIG. 5 is a flowchart of an implementation of the
compensation management process of FIG. 1 according to an
embodiment of the present disclosure;
[0017] FIG. 6 is a flowchart of an implementation of the
compensation management process of FIG. 1 according to an
embodiment of the present disclosure;
[0018] FIG. 7 is a flowchart of an implementation of the
compensation management process of FIG. 1 according to an
embodiment of the present disclosure;
[0019] FIG. 8 is a flowchart of an implementation of the
compensation management process of FIG. 1 according to an
embodiment of the present disclosure;
[0020] FIG. 9 is a flowchart of an implementation of the
compensation management process of FIG. 1 according to an
embodiment of the present disclosure;
[0021] FIG. 10 is a flowchart of an implementation of the
compensation management process of FIG. 1 according to an
embodiment of the present disclosure; and
[0022] FIG. 11 is a flowchart of an implementation of the
compensation management process of FIG. 1 according to an
embodiment of the present disclosure.
[0023] Like reference symbols in the various drawings indicate like
elements.
DETAILED DESCRIPTION OF THE PREFERRED EMBODIMENTS
System Overview
[0024] Referring to FIG. 1, there is shown compensation management
process 10. Compensation management process 10 may be implemented
as a server-side process, a client-side process, or a hybrid
server-side/client-side process. For example, compensation
management process 10 may be implemented as a purely server-side
process via compensation management process 10s. Alternatively,
compensation management process 10 may be implemented as a purely
client-side process via one or more of compensation management
process 10c1, compensation management process 10c2, compensation
management process 10c3, and compensation management process 10c4.
Alternatively still, compensation management process 10 may be
implemented as a hybrid server-side/client-side process via
compensation management process 10s in combination with one or more
of compensation management process 10c1, compensation management
process 10c2, compensation management process 10c3, and
compensation management process 10c4. Accordingly, compensation
management process 10 as used in this disclosure may include any
combination of compensation management process 10s, compensation
management process 10c1, compensation management process 10c2,
compensation management process 10c3, and compensation management
process 10c4.
[0025] Compensation management process 10s may be a server
application and may reside on and may be executed by computing
device 12, which may be connected to network 14 (e.g., the Internet
or a local area network). Examples of computing device 12 may
include, but are not limited to: a personal computer, a laptop
computer, a personal digital assistant, a data-enabled cellular
telephone, a notebook computer, a television with one or more
processors embedded therein or coupled thereto, a cable/satellite
receiver with one or more processors embedded therein or coupled
thereto, a server computer, a series of server computers, a mini
computer, a mainframe computer, or a cloud-based computing
network.
[0026] The instruction sets and subroutines of compensation
management process 10s, which may be stored on storage device 16
coupled to computing device 12, may be executed by one or more
processors (not shown) and one or more memory architectures (not
shown) included within computing device 12. Examples of storage
device 16 may include but are not limited to: a hard disk drive; a
RAID device; a random access memory (RAM); a read-only memory
(ROM); and all forms of flash memory storage devices.
[0027] Network 14 may be connected to one or more secondary
networks (e.g., network 18), examples of which may include but are
not limited to: a local area network; a wide area network; or an
intranet, for example.
[0028] Examples of compensation management processes 10c1, 10c2,
10c3, 10c4 may include but are not limited to a client application,
a web browser, a game console user interface, or a specialized
application (e.g., an application running on e.g., the Android.TM.
platform or the iOS.TM. platform). The instruction sets and
subroutines of compensation management processes 10c1, 10c2, 10c3,
10c4, which may be stored on storage devices 20, 22, 24, 26
(respectively) coupled to client electronic devices 28, 30, 32, 34
(respectively), may be executed by one or more processors (not
shown) and one or more memory architectures (not shown)
incorporated into client electronic devices 28, 30, 32, 34
(respectively). Examples of storage devices 20, 22, 24, 26 may
include but are not limited to: a hard disk drive; a RAID device; a
random access memory (RAM); a read-only memory (ROM); and all forms
of flash memory storage devices.
[0029] Examples of client electronic devices 28, 30, 32, 34 may
include, but are not limited to, data-enabled, cellular telephone
28, laptop computer 30, personal digital assistant 32, personal
computer 34, a notebook computer (not shown), a server computer
(not shown), a gaming console (not shown), a smart television (not
shown), and a dedicated network device (not shown). Client
electronic devices 28, 30, 32, 34 may each execute an operating
system, examples of which may include but are not limited to
Microsoft Windows.TM., Android.TM., WebOS.TM., iOS.TM., Redhat
Linux.TM., or a custom operating system.
[0030] Users 36, 38, 40, 42 may access compensation management
process 10 directly through network 14 or through secondary network
18. Further, compensation management process 10 may be connected to
network 14 through secondary network 18, as illustrated with link
line 44.
[0031] The various client electronic devices (e.g., client
electronic devices 28, 30, 32, 34) may be directly or indirectly
coupled to network 14 (or network 18). For example, data-enabled,
cellular telephone 28 and laptop computer 30 are shown wirelessly
coupled to network 14 via wireless communication channels 46, 48
(respectively) established between data-enabled, cellular telephone
28, laptop computer 30 (respectively) and cellular network/bridge
50, which is shown directly coupled to network 14. Further,
personal digital assistant 32 is shown wirelessly coupled to
network 14 via wireless communication channel 52 established
between personal digital assistant 32 and wireless access point
(i.e., WAP) 54, which is shown directly coupled to network 14.
Additionally, personal computer 34 is shown directly coupled to
network 18 via a hardwired network connection.
[0032] WAP 54 may be, for example, an IEEE 802.11a, 802.11b,
802.11g, 802.11n, Wi-Fi, and/or Bluetooth device that is capable of
establishing wireless communication channel 52 between personal
digital assistant 32 and WAP 54. As is known in the art, IEEE
802.11x specifications may use Ethernet protocol and carrier sense
multiple access with collision avoidance (i.e., CSMA/CA) for path
sharing. The various 802.11x specifications may use phase-shift
keying (i.e., PSK) modulation or complementary code keying (i.e.,
CCK) modulation, for example. As is known in the art, Bluetooth is
a telecommunications industry specification that allows e.g.,
mobile phones, computers, and personal digital assistants to be
interconnected using a short-range wireless connection.
Compensation Management Process
[0033] As will be discussed below in greater detail, compensation
management process 10 may be configured and/or utilized to
monitor/incentivize the performance of a performance-based employee
of a company. Examples of such a performance-based employee of the
company may include but are not limited to a performance-based
seller of products and/or a performance-based seller of
services.
[0034] While much of the following discussion concerns compensation
management process 10 being utilized within an automotive space
(e.g., an automotive sales space, an automotive service space, an
automotive body shop space, an automotive finance space, an
automotive insurance space, an automotive administrative space, an
automotive franchise or space, and an automotive parts space), this
is for illustrative purposes only and is not intended to be a
limitation of this disclosure, as other configurations are
considered to be within the scope of this disclosure. For example,
it is understood that compensation management process 10 may be
utilized in any other spaces in which it may be desirable to
monitor/incentive the performance of performance-based employees
(e.g., a retail space; a healthcare space; a financial space; a
manufacturing space; a hospitality space; a travel space; a
pharmaceutical space; a technology space; and a real estate
space.
[0035] As is known, performance-based employees may be compensated
based upon many different factors. For example, performance-based
employees may be paid a flat percentage-based commission based upon
the products or services they sell. However, often times such
compensation plans are not as straightforward. For example, a
performance-based employee may be paid a first percentage up to a
first level of sales and may be paid one or more other percentages
above such first level of sales. Additionally, various promotions
may be built into such compensation plans. For example,
performance-based employees may be incentivized to sell certain
items and/or services. For example, a car salesman may be
incentivized to move older inventory and/or sell maintenance plans.
Additionally, a telecom salesperson may be incentivized to sell
higher level data plans, wherein an electronics salesperson may be
incentivized to sell damage protection plans.
[0036] Referring also to FIG. 2, compensation management process 10
may be configured to interface with and/or interact with one or
more external business entities, examples of which may include but
are not limited to customer relationship management platform 150,
inventory management platform 152, accounting platform 154,
dealership management platform 156, social media platform 158,
external rating platform 160, internal rating platform 162, human
resource management platform 164, business analytics platform 166
and/or payroll platform 168.
[0037] As will be discussed below in greater detail, the
performance of performance-based employees may be monitored and/or
incentivized through the use of compensation management process
10.
Concepts 1-2
[0038] Referring also to FIG. 3, compensation management process 10
may enable 200 a user (e.g., user 56) to define a compensation plan
for a performance-based employee (e.g., one or more of users 36,
38, 40, 42). As discussed above, the performance-based employee
(e.g., one or more of users 36, 38, 40, 42) may be a
performance-based seller of products and/or services.
[0039] This performance-based employee may be a performance-based
employee within one or more of: an automotive sales space; an
automotive service space; an automotive body shop space; an
automotive finance & insurance space; an automotive
administrative space; an automotive franchisor space; an automotive
parts space; a retail space; a healthcare space; a financial space;
a manufacturing space; a hospitality space; a travel space; a
pharmaceutical space; a technology space; and a real estate
space.
[0040] For example, compensation management process 10 may enable
200 user 56) to define a compensation plan (e.g., compensation plan
58 or any of compensation plans 60) for one or more of users 36,
38, 40, 42, wherein users 36, 38, 40, 42 may be performance-based
employees within an automotive space (e.g., car dealership 62). In
this particular example, user 56 may be the sales manager of car
dealership 62.
[0041] When enabling 200 a user (e.g., user 56) to define a
compensation plan for a performance-based employee (e.g., one or
more of users 36, 38, 40, 42), compensation management process 10
may enable 202 the user (e.g., user 56) to define the compensation
plan for the performance-based employee (e.g., one or more of users
36, 38, 40, 42) by selecting the compensation plan from a plurality
of available compensation plans. For example, assume that
compensation plans 60 include a plurality of compensation plans
that are available at car dealership 62. Accordingly and when
onboarding a salesperson (e.g. user 36), user 56 may define a
compensation plan for user 36 by selecting a specific plan from
plurality of compensation plans 60.
[0042] However, the selection of a compensation plan need not be so
"cookie-cutter", wherein an existing compensation plan must be
selected for a particular user. For example and when enabling 200 a
user (e.g., user 56) to define a compensation plan for the
performance-based employee (e.g., one or more of users 36, 38, 40,
42), compensation management process 10 may enable 204 the user
(e.g., user 56) to define a bespoke compensation plan for the
performance-based employee (e.g., one or more of users 36, 38, 40,
42). Therefore and through compensation management process 10, user
56 may be able to define a bespoke (i.e. custom) compensation plan
for (in this example) user 36. By enabling 204 the user (e.g., user
56) to define a bespoke compensation plan for the performance-based
employee (e.g., user 36), custom compensation plans may be defined
via compensation management process 10 to e.g., entice a new
salesperson to join car dealership 62 or address issues with an
existing compensation plan of a specific salesperson.
[0043] Assume for this illustrative example that compensation plan
58 was defined for the performance-based employee (e.g., user 36),
wherein future earnings of user 36 may be defined (i.e. calculated)
based upon (in this example) compensation plan 58. Compensation
management process 10 may obtain 206 performance information (e.g.,
performance information 64) for the performance-based employee
(e.g., user 36) so that the compensation of user 36 may be
calculated.
[0044] Performance information 64 may include sales performance
information 66. Examples of sales performance information 66 may
include but is not limited to: a quantity of units sold indicator,
a date of units sold indicator, a cost of units sold indicator, a
margin of units sold indicator, an incentive concerning units sold
indicator, a type of units sold indicator and a timing of units
sold indicator.
[0045] When obtaining 206 performance information 64 for the
performance-based employee (e.g., user 36), compensation management
process 10 may obtain 208 sales performance information 66 from one
or more of: customer relationship management (CRM) platform 150
(e.g., a platform that enables a user/business to manage their
relationship with actual and potential clients), inventory
management platform 152 (e.g., a platform that enables a
user/business to manage/order/sell their inventory), accounting
platform 154 (e.g., a platform that enables a user/business to
maintain their finances), proprietary data feed 170 (e.g., such as
an internal sales data feed within car dealership 62), proprietary
data file 172 (e.g., such as an internal sales data file within car
dealership 62), proprietary datastore 174, manually-entered data
176, and dealership management platform 156.
[0046] Additionally, performance information 64 may include
supplemental performance information 68. Examples of supplemental
performance information 68 may include but is not limited to: an
inventory age indicator; a minimum wage indicator; an hours worked
indicator; an employment history indicator; a customer feedback
indicator; an economic indicator; a team rating indicator; an
individual rating indicator; and an organization rating
indicator.
[0047] Accordingly, when obtaining 206 performance information 64
for the performance-based employee (e.g., user 36), compensation
management process 10 may obtain 210 the supplemental performance
information 68 from one or more of: social media platform 158,
external rating platform 160, internal rating platform 162,
inventory management platform 152, human resource management
platform 164, proprietary data feed 170, proprietary data file 172,
proprietary datastore 174, manually-entered data 176, and business
analytics platform 166.
[0048] When obtaining 206 performance information 64 for the
performance-based employee (e.g., user 36), compensation management
process 10 may selectively exclude 212 one or more performance
indicators; and/or selectively devalue 214 one or more performance
indicators.
[0049] As discussed above, performance information 64 may include
multiple discrete performance indicators, examples of which may
include but are not limited to: a quantity of units sold indicator,
a date of units sold indicator, a cost of units sold indicator, a
margin of units sold indicator, an incentive concerning units sold
indicator, a type of units sold indicator and a timing of units
sold indicator (within e.g., sales performance information 66) and
an inventory age indicator; a minimum wage indicator; an hours
worked indicator; an employment history indicator; a customer
feedback indicator; an economic indicator; a team rating indicator;
an individual rating indicator; and an organization rating
indicator (within e.g., supplemental performance information 68).
Accordingly, compensation management process 10 may allow a user
(e.g., user 56) to selectively exclude 212 one or more performance
indicators; and/or selectively devalue 214 one or more performance
indicators.
[0050] For example, assume that one of these performance indicators
indicated that user 36 sold a vehicle on the last day of a sales
event. That performance indicator would be included in performance
information 64 that is used to calculate the compensation of user
36. However, assume for illustrative purposes that this particular
vehicle was returned the following day (i.e. the day after the
sales event ended). Accordingly and if this particular performance
indicator was used to calculate the compensation of user 36, user
36 may be overcompensated (as e.g., the sale of this particular
vehicle was the sale that qualified user 36 for a sales event
bonus). Accordingly, compensation management process 10 may allow
user 56 to selectively exclude 212 this particular performance
indicator (thus eliminating the overcompensation of user 36);
and/or selectively devalue 214 this particular performance
indicator (thus mitigating the overcompensation of user 36).
[0051] Compensation management process 10 may calculate 216
compensation information (e.g., compensation information 70) for
the performance-based employee (e.g., user 36) based, at least in
part, upon the performance information 64 (which may include e.g.,
sales performance information 66 and/or supplemental performance
information 68) and the compensation plan (e.g., compensation plan
56). For example, compensation plan 56 may define that user 36
receives X % of the net revenue of the first 10 vehicles they sell
in a month and Y % of the net revenue of all other vehicles they
sell in that month. Additionally, programs and financial incentives
made be defined for e.g., selling certain makes of vehicles,
certain models of vehicles, certain option packages, certain add-on
packages, certain maintenance packages and certain warranty
packages. Additionally, the compensation of user 36 may be impacted
by e.g., reviews by management, reviews posted on social media,
general feedback concerning user 36 and general feedback concerning
dealership 62.
[0052] Once this compensation information (e.g., compensation
information 70) is calculated 216, compensation management process
10 may provide 218 the compensation information (e.g., compensation
information 70) for the performance-based employee (e.g., user 36)
to payroll platform 168 (so that e.g., user 36 may be compensated
based, at least in part, upon compensation information 70).
[0053] Additionally and once this compensation information (e.g.,
compensation information 70) is calculated 216, compensation
management process 10 may provide 220 the compensation information
(e.g., compensation information 70) for the performance-based
employee (e.g., user 36) to dealership management platform 156 (so
that e.g., the performance and/or compensation of user 36 may be
tracked by car dealership 62).
Concept #3
[0054] Referring also to FIG. 4, compensation management process 10
may include a plurality of compensation plans (e.g., compensation
plans 60) that may be defined for one or more of users 36, 38, 40,
42. Assume for this example that user 56 (e.g. the sales manager
for car dealership 62) is planning on implementing a new
compensation plan at car dealership 62 but is unsure as to which
one should be implemented. For example, it is foreseeable that one
compensation plan may result in salespeople being under compensated
(thus resulting in e.g., unhappy salespeople that may leave car
dealership 62); while another compensation plan may result in
salespeople being overly compensated (thus resulting in e.g., happy
salespeople but an unprofitable car dealership). Accordingly and
when considering switching compensation plans, it may be desirable
for user 56 to see how a potential compensation plan may impact
payroll and/or profitability of (in this example) car dealership
62.
[0055] Compensation management process 10 may enable 300 a user
(e.g., user 56) to define a first compensation plan (e.g.,
compensation plan 72) for one or more performance-based employees
(e.g., users 36, 38, 40, 42) within an automotive space. As
discussed above, these performance-based employees (e.g., one or
more of users 36, 38, 40, 42) may be performance-based sellers of
products and/or services. Further and as discussed above, the
automotive space may include one or more of: an automotive sales
space; an automotive service space; an automotive body shop space;
an automotive finance & insurance space; an automotive
administrative space; an automotive franchisor space; and an
automotive parts space.
[0056] When enabling 300 a user (e.g., user 56) to define a first
compensation plan (e.g., compensation plan 72) for one or more
performance-based employees (e.g., users 36, 38, 40, 42),
compensation management process 10 may enable 302 the user (e.g.,
user 56) to define the first compensation plan (e.g., compensation
plan 72) for one or more performance-based employees (e.g., users
36, 38, 40, 42) by selecting the first compensation plan (e.g.,
compensation plan 72) from a plurality of available compensation
plans (e.g., compensation plans 60).
[0057] Alternatively and when enabling 300 a user (e.g., user 56)
to define a first compensation plan (e.g., compensation plan 72)
for one or more performance-based employees (e.g., users 36, 38,
40, 42), compensation management process 10 may enable 304 the user
(e.g., user 56) to define a bespoke first compensation plan (e.g.,
compensation plan 72') for the one or more performance-based
employees (e.g., users 36, 38, 40, 42).
[0058] Compensation management process 10 may enable 306 the user
(e.g., user 56) to define a second compensation plan (e.g.,
compensation plan 74) for the one or more performance-based
employees (e.g., users 36, 38, 40, 42) within the automotive
space.
[0059] When enabling 306 a user (e.g., user 56) to define a second
compensation plan (e.g., compensation plan 74) for one or more
performance-based employees (e.g., users 36, 38, 40, 42),
compensation management process 10 may enable 308 the user (e.g.,
user 56) to define the second compensation plan (e.g., compensation
plan 74) for one or more performance-based employees (e.g., users
36, 38, 40, 42) by selecting the second compensation plan (e.g.,
compensation plan 74) from a plurality of available compensation
plans (e.g., compensation plans 60).
[0060] Alternatively and when enabling 306 a user (e.g., user 56)
to define a second compensation plan (e.g., compensation plan 74)
for one or more performance-based employees (e.g., users 36, 38,
40, 42), compensation management process 10 may enable 310 the user
(e.g., user 56) to define a bespoke second compensation plan (e.g.,
compensation plan 74') for the one or more performance-based
employees (e.g., users 36, 38, 40, 42).
[0061] Compensation management process 10 may compare 312 the first
compensation plan (e.g., compensation plan 72/72') to the second
compensation plan (e.g., compensation plan 74, 74') to determine
one or more differential characteristics for the second
compensation plan (e.g., compensation plan 74, 74') with respect to
the first compensation plan (e.g., compensation plan 72/72').
[0062] As discussed above, it is foreseeable that one compensation
plan (e.g., compensation plan 72/72') may result in salespeople
being under compensated (thus resulting in e.g., unhappy
salespeople that may leave car dealership 62); while another
compensation plan (e.g., compensation plan 72/72') may result in
salespeople being overly compensated (thus resulting in e.g., happy
salespeople but car dealership 62 being unprofitable). Accordingly
and when considering switching compensation plans, it may be
desirable for user 56 to see how a potential compensation plan may
impact payroll and/or profitability of (in this example) car
dealership 62. Accordingly and by examining the above-described
differential characteristics, user 56 may be able to determine
which compensation plan (e.g., compensation plan 72/72' or
compensation plan 74/74') is the more desirable choice.
[0063] When comparing 312 the first compensation plan (e.g.,
compensation plan 72/72') and the second compensation plan (e.g.,
compensation plan 74, 74') to determine one or more differential
characteristics for the second compensation plan (e.g.,
compensation plan 74, 74') with respect to the first compensation
plan (e.g., compensation plan 72/72'), compensation management
process 10 may utilize 314 historical performance information of
the one or more performance-based employees (e.g., users 36, 38,
40, 42) to determine the one or more differential characteristics
for the second compensation plan (e.g., compensation plan 74, 74')
with respect to the first compensation plan (e.g., compensation
plan 72/72'). Examples of such historical performance information
may include but are not limited to historical sales performance
information and/or historical supplemental performance
information.
[0064] When comparing 312 the first compensation plan (e.g.,
compensation plan 72/72') and the second compensation plan (e.g.,
compensation plan 74, 74') to determine one or more differential
characteristics for the second compensation plan (e.g.,
compensation plan 74, 74') with respect to the first compensation
plan (e.g., compensation plan 72/72'), compensation management
process 10 may utilize 316 predicted performance information of the
one or more performance-based employees (e.g., users 36, 38, 40,
42) to determine the one or more differential characteristics for
the second compensation plan (e.g., compensation plan 74, 74') with
respect to the first compensation plan (e.g., compensation plan
72/72'). Examples of such predicted performance information may
include but are not limited to predicted sales performance
information and/or predicted supplemental performance
information.
[0065] As discussed above, this sales performance information 66
may include but is not limited to: a quantity of units sold
indicator, a date of units sold indicator, a cost of units sold
indicator, a margin of units sold indicator, an incentive
concerning units sold indicator, a type of units sold indicator and
a timing of units sold indicator. Accordingly, historical sales
performance information may define the manner in which the
performance-based employee (e.g., user 36, 38, 40, 42) has
performed with respect to sales in the past, while predicted sales
performance information may define the manner in which the
performance-based employee (e.g., user 36, 38, 40, 42) will likely
perform with respect to sales in the future.
[0066] As discussed above, this supplemental performance
information 68 may include one or more of: an inventory age
indicator; a minimum wage indicator; an hours worked indicator; an
employment history indicator; a customer feedback indicator; an
economic indicator; a team rating indicator; an individual rating
indicator; and an organization rating indicator. Accordingly,
historical supplemental performance information may define the
manner in which the performance-based employee (e.g., user 36, 38,
40, 42) has performed with respect to supplemental metrics in the
past, while predicted supplemental performance information may
define the manner in which the performance-based employee (e.g.,
user 36, 38, 40, 42) will likely perform with respect to
supplemental metrics in the future.
[0067] When comparing 312 the first compensation plan (e.g.,
compensation plan 72/72') and the second compensation plan (e.g.,
compensation plan 74, 74') to determine one or more differential
characteristics for the second compensation plan (e.g.,
compensation plan 74, 74') with respect to the first compensation
plan (e.g., compensation plan 72/72'), compensation management
process 10 may distribute 318 the one or more differential
characteristics with respect to a plurality of performance
information indicators.
[0068] For example, assume that when comparing 312 the first
compensation plan (e.g., compensation plan 72/72') and the second
compensation plan (e.g., compensation plan 74, 74') to determine
one or more differential characteristics for the second
compensation plan (e.g., compensation plan 74, 74') with respect to
the first compensation plan (e.g., compensation plan 72/72'),
compensation management process 10 may determine that the monthly
operating costs for car dealership 62 may decrease by $12,000 per
month if car dealership 62 switches to the second compensation plan
(e.g., compensation plan 74, 74') from the first compensation plan
(e.g., compensation plan 72/72').
[0069] In order to aid in the analysis and the explanation,
compensation management process 10 may distribute 318 these one or
more differential characteristics (e.g., the $12,000 per month
reduction in operating costs) with respect to a plurality of
performance information indicators. For example, compensation
management process 10 may determine that this $12,000 monthly
reduction in the operating costs of car dealership 62 may be the
cumulative result of several discrete performance information
indicators (e.g., such as the sum of a $20,000 increase in
salaries, a $10,000 increase in 401(k) contributions, and a $42,000
reduction in benefit expenses).
Concept #4
[0070] Referring also to FIG. 5, compensation management process 10
may be configured to allow user (e.g. user 56) to define a
compensation plan for e.g., car dealership 62 that is competitive
with other car dealerships (e.g., car dealership 76) similarly
situated with respect to car dealership 62.
[0071] For example, compensation management process 10 may define
400 demographic information (e.g., demographic information 78) for
a target business entity (e.g., car dealership 62). As is known,
demographic information is information on a certain portion of the
population that is based on various factors, examples of which may
include but are not limited to age, race, gender, employment
status, education, income levels, marital status, birthrates, and
death rates. Accordingly, demographic information 78 may be
information concerning the population surrounding (or clientele of)
car dealership 68.
[0072] As discussed above, the target business entity (e.g., car
dealership 62) may be a business entity in the automotive space,
wherein the automotive space may include one or more of: an
automotive sales space; an automotive service space; an automotive
body shop space; an automotive finance & insurance space; an
automotive administrative space; an automotive franchisor space;
and an automotive parts space.
[0073] When defining 400 demographic information 78 for a target
business entity (e.g., car dealership 62), compensation management
process 10 may receive 402 demographic information 78 from a data
source (e.g., data source 80). An example of data source 80 may be
a data source that is external to car dealership 62, such as a
census database.
[0074] Alternatively and when defining 400 demographic information
78 for a target business entity (e.g., car dealership 62),
compensation management process 10 may manually define 404
demographic information 78. For example, if demographic information
78 does not pre-exist (or is only available via printed
documentation), compensation management process 10 may enable a
user (e.g., user 56) to manually define 404 demographic information
78.
[0075] Compensation management process 10 may define 406 business
information (e.g., business information 82) for the target business
entity (e.g., car dealership 62). As is known, business information
82 may be any type of information that is useful when making
business decisions, examples of which may include but are not
limited to entity status, entity size, gross revenue, number of
employees, years in business, type of business, tax status, and
social standing.
[0076] When defining 406 business information 82 for the target
business entity (e.g., car dealership 62), compensation management
process 10 may receive 408 business information 82 from a data
source (e.g., data source 80). An example of data source 80 may be
a data source that is external to car dealership 62, such as a
business intelligence database.
[0077] When defining 406 business information 82 for the target
business entity (e.g., car dealership 62), compensation management
process 10 may manually define 410 business information 82. For
example, if business information 82 does not pre-exist (or is only
available via printed documentation), compensation management
process 10 may enable a user (e.g., user 56) to manually define 404
business information 82.
[0078] Compensation management process 10 may analyze 412
demographic information 78 and/or business information 82 to
identify a proposed compensation plan (e.g., compensation plan 58)
for one or more performance-based employees (e.g., users 36, 38,
40, 42) of the target business entity (e.g., car dealership 62). As
discussed above, the performance-based employees (e.g., users 36,
38, 40, 42) may be a performance-based seller of products and/or
services. Accordingly and as will be discussed below in greater
detail, compensation management process 10 may allow user 56 to
identify a compensation plan that is equivalent to (or better than)
the compensation plans offered by their competitors (e.g. car
dealership 76).
[0079] Specifically and when analyzing 412 demographic information
78 and/or business information 82 to identify a proposed
compensation plan (e.g., compensation plan 58) for one or more
performance-based employees (e.g., users 36, 38, 40, 42) of the
target business entity (e.g., car dealership 62), compensation
management process 10 may identify 414 one or more comparable
business entities (e.g., car dealership 76) having similar
demographic information and/or the business information (e.g.,
demographic information similar to demographic information 78
and/or business information similar to business information 82). By
identifying 414 one or more comparable business entities (e.g., car
dealership 76), compensation management process 10 may allow user
56 to identify who their competition is, where this determination
may be based upon demographic information 78 and/or business
information 82. For example, demographic information 78 may
identify other car dealerships that have similarly-situated
clientele. For example, the people that buy Lamborghinis tend to be
different financially from those who by Kias. Further, the people
that live on the Upper East Side of Manhattan tend to be different
financially from those who live in a rural farming community.
Additionally, such differences may be based on the type of car
dealership. For example, salespeople who work at a high-end
European car dealership may be better compensated then salespeople
that work at a non-franchised used car dealership.
[0080] Compensation management process 10 may also identify 416 one
or more business metrics (e.g., business metrics 84) for the one or
more comparable business entities (e.g., car dealership 76). Once
compensation management process 10 identifies 414 one or more
comparable business entities (e.g., car dealership 76),
compensation management process 10 may identify 416 business
metrics (e.g., business metrics 84) for these identified comparable
business entities (e.g., car dealership 76).
[0081] Examples of such business metrics (e.g., business metrics
84) may include but are not limited to: industry benchmarks;
compensation as a percentage of profit; compensation as a
percentage of overall sales; compensation per unit sold; quantity
of units sold; hours worked; average units sold per employee;
compensation per hour sold; compensation as a percentage of overall
hours worked; average gross profit per unit sold; average gross
profit per hour sold; and employees as a percentage of overall
sales.
[0082] Once compensation management process 10 identifies 414 the
comparable business entities (e.g. car dealership 76) and
identifies 416 the related business metrics (e.g., business metrics
84), compensation management process 10 may identify 418 a proposed
compensation plan (e.g., compensation plan 58) for the one or more
performance-based employees (e.g., users 36, 38, 40, 42) of the
target business entity (e.g., car dealership 62) that is based, at
least in part, upon the one or more business metrics (e.g.,
business metrics 84) for the comparable business entity (e.g., car
dealership 76). Accordingly and through the use of compensation
management process 10, user 56 may be able to identify a
compensation plan (e.g., compensation plan 58) that allows them to
be competitive with comparable business entities (e.g., car
dealership 76), thus avoiding situations in which the compensation
plan offered by car dealership 62 is under-generous (thus
inhibiting the ability of car dealership 62 to attract the best
salespeople) and/or over generous (thus avoiding car dealership 62
being less profitable).
[0083] In the event that user 56 is satisfied with compensation
plan 58, compensation management process 10 may enable 420 a user
(e.g. user 56) to select the proposed compensation plan (e.g.,
compensation plan 58) for the one or more performance-based
employees (e.g., users 36, 38, 40, 42) of the target business
entity (e.g., car dealership 62).
[0084] In the event that user 56 is not satisfied with compensation
plan 58, compensation management process 10 may enable 422 a user
(e.g. user 56) to reject the proposed compensation plan (e.g.,
compensation plan 58) for the one or more performance-based
employees (e.g., users 36, 38, 40, 42) of the target business
entity (e.g., car dealership 62).
[0085] In the event that user 56 is partially satisfied with
compensation plan 58, compensation management process 10 may enable
424 a user (e.g. user 56) to modify the proposed compensation plan
(e.g., compensation plan 58) for the one or more performance-based
employees (e.g., users 36, 38, 40, 42) of the target business
entity (e.g., car dealership 62).
Concept #5
[0086] Referring also to FIG. 6, compensation management process 10
may be configured to allow a user (e.g., user 56 and/or a
performance-based employee, such as user 36, 38, 40, 42) to obtain
up-to-date compensation information for a performance-based
employee (e.g., user 36, 38, 40, 42).
[0087] Accordingly, compensation management process 10 may obtain
500 performance information (e.g., performance information 64) for
at least one performance-based employee (e.g., users 36, 38, 40,
42). As discussed above, these performance-based employees (e.g.,
users 36, 38, 40, 42) may be a performance-based sellers of
products and/or services.
[0088] The performance information (e.g., performance information
64) obtained 500 may include sales performance information (e.g.,
sales performance information 66), wherein this sales performance
information (e.g., sales performance information 66) may include
but is not limited to: a quantity of units sold indicator, a date
of units sold indicator, a cost of units sold indicator, a margin
of units sold indicator, an incentive concerning units sold
indicator, a type of units sold indicator and a timing of units
sold indicator.
[0089] This sales performance information (e.g., sales performance
information 66) may be obtained from one or more of: customer
relationship management (CRM) platform 150 (e.g., a platform that
enables a user/business to manage their relationship with actual
and potential clients), inventory management platform 152 (e.g., a
platform that enables a user/business to manage/order/sell their
inventory), accounting platform 154 (e.g., a platform that enables
a user/business to maintain their finances), proprietary data feed
170 (e.g., such as an internal sales data feed within car
dealership 62), proprietary data file 172 (e.g., such as an
internal sales data file within car dealership 62), proprietary
datastore 174, manually-entered data 176, and dealership management
platform 156.
[0090] Additionally, the performance information (e.g., performance
information 64) obtained 500 may include supplemental performance
information (e.g., supplemental performance information 68),
wherein this supplemental performance information (e.g.,
supplemental performance information 68) may include one or more
of: an inventory age indicator; a minimum wage indicator; an hours
worked indicator; an employment history indicator; a customer
feedback indicator; an economic indicator; a team rating indicator;
an individual rating indicator; and an organization rating
indicator.
[0091] This supplemental performance information (e.g.,
supplemental performance information 68) may be obtained from one
or more of: social media platform 158, external rating platform
160, internal rating platform 162, inventory management platform
152, human resource management platform 164, proprietary data feed
170, proprietary data file 172, proprietary datastore 174,
manually-entered data 176, and business analytics platform 166.
[0092] Compensation management process 10 may then identify 502 a
compensation plan (e.g., compensation plan 58) for the
performance-based employee (e.g., users 36, 38, 40, 42) of a
business entity (e.g., car dealership 62). As discussed above, this
business entity (e.g., car dealership 62) may be a business entity
in the automotive space, wherein the automotive space may include
one or more of: an automotive sales space; an automotive service
space; an automotive body shop space; an automotive finance &
insurance space; an automotive administrative space; an automotive
franchisor space; and an automotive parts space.
[0093] Compensation management process 10 may then calculate 504
up-to-date compensation information (e.g., compensation information
70) for the performance-based employee (e.g., users 36, 38, 40, 42)
based, at least in part, upon the performance information (e.g.,
compensation information 70) and the compensation plan (e.g.,
compensation plan 58).
[0094] Compensation management process 10 may provide 506 the
up-to-date compensation information (e.g., compensation information
70) to the at least one performance-based employee (e.g., users 36,
38, 40, 42). The up-to-date compensation information (e.g.,
compensation information 70) may include compensation information
(e.g., compensation information 70) that is current at the time
that the up-to-date compensation information (e.g., compensation
information 70) is provided to the at least one performance-based
employee (e.g., users 36, 38, 40, 42).
[0095] Accordingly, compensation management process 10 may enable a
performance-based employee (e.g., user 36, 38, 40, 42) to obtain
up-to-date compensation information (e.g., compensation information
70). Therefore, at any point during a pay cycle (e.g., mid-day,
mid-week, mid-month), a performance-based employee (e.g., user 36,
38, 40, 42) may utilize compensation management process 10 to
obtain up-to-date compensation information (e.g., compensation
information 70) so that they may determine how they are performing
(compensation wise).
[0096] When providing 506 the up-to-date compensation information
(e.g., compensation information 70) to the at least one
performance-based employee (e.g., users 36, 38, 40, 42),
compensation management process 10 may reactively provide 508 the
up-to-date compensation information (e.g., compensation information
70) to the at least one performance-based employee (e.g., users 36,
38, 40, 42). When reactively providing 508 the up-to-date
compensation information (e.g., compensation information 70) to the
at least one performance-based employee (e.g., users 36, 38, 40,
42), compensation management process 10 may provide 510 the
up-to-date compensation information (e.g., compensation information
70) to the at least one performance-based employee (e.g., users 36,
38, 40, 42) in response to a request (e.g. request 86).
Accordingly, compensation management process 10 may be configured
to only provide 506 this up-to-date compensation information (e.g.,
compensation information 70) in response to a request (e.g. request
86) submitted by the user (e.g., user 36, 38, 40, 42).
[0097] When providing 506 the up-to-date compensation information
(e.g., compensation information 70) to the at least one
performance-based employee (e.g., users 36, 38, 40, 42),
compensation management process 10 may proactively provide 512 the
up-to-date compensation information (e.g., compensation information
70) to the at least one performance-based employee (e.g., users 36,
38, 40, 42). When proactively providing 512 the up-to-date
compensation information (e.g., compensation information 70) to the
at least one performance-based employee (e.g., users 36, 38, 40,
42), compensation management process 10 may provide 514 the
up-to-date compensation information (e.g., compensation information
70) to the at least one performance-based employee (e.g., users 36,
38, 40, 42) at a predefined interval. Accordingly, compensation
management process 10 may be configured to automatically provide
506 this up-to-date compensation information (e.g., compensation
information 70) to the user (e.g., user 36, 38, 40, 42) at a
regular frequency (e.g., daily, weekly, monthly).
[0098] Once this up-to-date compensation information (e.g.,
compensation information 70) is received by the performance-based
employee (e.g., user 36, 38, 40, 42), the performance-based
employee (e.g., user 36, user 38, user 40, user 42) may review the
same for accuracy and/or to identify issues within the same.
Compensation management process 10 may enable 516 the at least one
performance-based employee (e.g., users 36, 38, 40, 42) to provide
feedback (e.g., feedback 88) concerning the up-to-date compensation
information (e.g., compensation information 70). Examples of
feedback 88 may include but are not limited to: the
performance-based employee (e.g., user 36, 38, 40, 42) affirming
the accuracy of the up-to-date compensation information (e.g.,
compensation information 70); the performance-based employee (e.g.,
user 36, 38, 40, 42) contesting the accuracy of the up-to-date
compensation information (e.g., compensation information 70); and
the performance-based employee (e.g., user 36, 38, 40, 42)
identifying a discrepancy within the up-to-date compensation
information (e.g., compensation information 70).
Concept #6
[0099] Referring also to FIG. 7, compensation management process 10
may obtain 600 performance information (e.g., performance
information 64) for each of a plurality of performance-based
employees (e.g., users 36, 38, 40, 42) of a business entity (e.g.,
car dealership 62). As discussed above, these performance-based
employees (e.g., users 36, 38, 40, 42) may be a performance-based
sellers of products and/or services.
[0100] As discussed above, this business entity (e.g., car
dealership 62) may be a business entity in the automotive space,
wherein this automotive space may include one or more of: an
automotive sales space; an automotive service space; an automotive
body shop space; an automotive finance & insurance space; an
automotive administrative space; an automotive franchisor space;
and an automotive parts space.
[0101] The performance information (e.g., performance information
64) obtained 600 may include sales performance information (e.g.,
sales performance information 66), wherein this sales performance
information (e.g., sales performance information 66) may include
but is not limited to: a quantity of units sold indicator, a date
of units sold indicator, a cost of units sold indicator, a margin
of units sold indicator, an incentive concerning units sold
indicator, a type of units sold indicator and a timing of units
sold indicator.
[0102] This sales performance information (e.g., sales performance
information 66) may be obtained from one or more of: customer
relationship management (CRM) platform 150 (e.g., a platform that
enables a user/business to manage their relationship with actual
and potential clients), inventory management platform 152 (e.g., a
platform that enables a user/business to manage/order/sell their
inventory), accounting platform 154 (e.g., a platform that enables
a user/business to maintain their finances), proprietary data feed
170 (e.g., such as an internal sales data feed within car
dealership 62), proprietary data file 172 (e.g., such as an
internal sales data file within car dealership 62), proprietary
datastore 174, manually-entered data 176, and dealership management
platform 156.
[0103] The performance information obtained 600 may include
supplemental performance information (e.g., supplemental
performance information 68), wherein this supplemental performance
information (e.g., supplemental performance information 68) may
include one or more of: an inventory age indicator; a minimum wage
indicator; an hours worked indicator; an employment history
indicator; a customer feedback indicator; an economic indicator; a
team rating indicator; an individual rating indicator; and an
organization rating indicator.
[0104] This supplemental performance information (e.g.,
supplemental performance information 68) may be obtained from one
or more of: social media platform 158, external rating platform
160, internal rating platform 162, inventory management platform
152, human resource management platform 164, proprietary data feed
170, proprietary data file 172, proprietary datastore 174,
manually-entered data 176, and business analytics platform 166.
[0105] Compensation management process 10 may rank 602 the
plurality of performance-based employees (e.g., users 36, 38, 40,
42) based, at least in part, upon the performance information
(e.g., performance information 64, which may include sales
performance information 66 and/or supplemental performance
information 68) for each of the plurality of performance-based
employees (e.g., users 36, 38, 40, 42) to define a ranked list
(e.g., ranked list 90) of performance-based employees.
[0106] When ranking 602 the plurality of performance-based
employees (e.g., users 36, 38, 40, 42) based, at least in part,
upon the performance information (e.g., performance information 64,
which may include sales performance information 66 and/or
supplemental performance information 68) for each of a plurality of
performance-based employees (e.g., users 36, 38, 40, 42) to define
a ranked list (e.g., ranked list 90) of performance-based
employees, compensation management process 10 may rank 604 the
plurality of performance-based employees (e.g., users 36, 38, 40,
42) based, at least in part, upon the compensation information
(e.g., compensation information 70) calculated for each of the
plurality of performance-based employees (e.g., users 36, 38, 40,
42) to define the ranked list (e.g., ranked list 90) of
performance-based employees.
[0107] Compensation management process 10 may then publish 606 at
least a portion of the ranked list (e.g., ranked list 90) of
performance-based employees. Examples of publishing 606 at least a
portion of the ranked list (e.g., ranked list 90) may include but
are not limited to: rendering at least a portion of the ranked list
(e.g., ranked list 90) on a display screen (not shown) accessible
by compensation management process 10; including at least a portion
of the ranked list (e.g., ranked list 90) within a publication
(e.g., an email) produced by compensation management process 10;
and/or including at least a portion of the ranked list (e.g.,
ranked list 90) within a webpage (not shown) published by
compensation management process 10.
[0108] As discussed above, compensation management process 10 may
rank 604 the plurality of performance-based employees (e.g., users
36, 38, 40, 42) based, at least in part, upon compensation
information (e.g., compensation information 70) calculated for each
of the plurality of performance-based employees (e.g., users 36,
38, 40, 42) to define the ranked list (e.g., ranked list 90) of
performance-based employees. Accordingly and in order to effectuate
the calculation of this compensation information (e.g.,
compensation information 70), compensation management process 10
may identify 608 a compensation plan (e.g., compensation plan 58)
for a specific performance-based employee (e.g., each of users 36,
38, 40, 42). Compensation management process 10 may then calculate
610 the compensation information (e.g., compensation information
70) for the specific performance-based employee (e.g., each of
users 36, 38, 40, 42) based, at least in part, upon the
compensation plan (e.g., compensation plan 58) identified 604 for
the specific performance-based employee (e.g., each of users 36,
38, 40, 42) to position the specific performance-based employee
(e.g., each of users 36, 38, 40, 42) within the ranked list (e.g.,
ranked list 90) of performance-based employees.
Concept #7
[0109] Referring also to FIG. 8, compensation management process 10
may monitor 700 the performance of one or more performance-based
employees (e.g., users 36, 38, 40, 42) within an automotive space,
thus defining performance information (e.g., performance
information 64) for the one or more performance-based employees
(e.g., users 36, 38, 40, 42). As discussed above, the automotive
space may include one or more of: an automotive sales space; an
automotive service space; an automotive body shop space; an
automotive finance & insurance space; an automotive
administrative space; an automotive franchisor space; and an
automotive parts space.
[0110] As discussed above, this performance information (e.g.,
performance information 64) may include sales performance
information (e.g., sales performance information 66), wherein this
sales performance information (e.g., sales performance information
66) may include but is not limited to: a quantity of units sold
indicator, a date of units sold indicator, a cost of units sold
indicator, a margin of units sold indicator, an incentive
concerning units sold indicator, a type of units sold indicator and
a timing of units sold indicator.
[0111] This sales performance information (e.g., sales performance
information 66) may be obtained from one or more of: customer
relationship management (CRM) platform 150 (e.g., a platform that
enables a user/business to manage their relationship with actual
and potential clients), inventory management platform 152 (e.g., a
platform that enables a user/business to manage/order/sell their
inventory), accounting platform 154 (e.g., a platform that enables
a user/business to maintain their finances), proprietary data feed
170 (e.g., such as an internal sales data feed within car
dealership 62), proprietary data file 172 (e.g., such as an
internal sales data file within car dealership 62), proprietary
datastore 174, manually-entered data 176, and dealership management
platform 156.
[0112] Additionally, the performance information (e.g., performance
information 64) may include supplemental performance information
(e.g., supplemental performance information 68), wherein this
supplemental performance information (e.g., supplemental
performance information 68) may include one or more of: an
inventory age indicator; a minimum wage indicator; an hours worked
indicator; an employment history indicator; a customer feedback
indicator; an economic indicator; a team rating indicator; an
individual rating indicator; and an organization rating
indicator.
[0113] This supplemental performance information (e.g.,
supplemental performance information 68) may be obtained from one
or more of: social media platform 158, external rating platform
160, internal rating platform 162, inventory management platform
152, human resource management platform 164, proprietary data feed
170, proprietary data file 172, proprietary datastore 174,
manually-entered data 176, and business analytics platform 166.
[0114] Compensation management process 10 may receive 702 one or
more snapshot requests (e.g. request 86) for at least a portion of
the performance information (e.g., performance information 64) at
one or more points in time. These one or more snapshot requests
(e.g. request 86) may be received 702 from a specific
performance-based employee (e.g., user 36) included within the one
or more performance-based employees (e.g., users 36, 38, 40, 42).
Accordingly, the one or more performance-based employees (e.g.,
users 36, 38, 40, 42) may request snapshots for their personal
information and/or bookkeeping purposes.
Additionally/alternatively, the one or more snapshot requests (e.g.
request 86) may be received 702 from a manager (e.g., user 56) of
the one or more performance-based employees (e.g., users 36, 38,
40, 42). Accordingly, user 56 may request snapshots so that they
may monitor the performance of the one or more performance-based
employees (e.g., users 36, 38, 40, 42). Further, the one or more
snapshot requests (e.g. request 86) may be received 702 from a
department within an automotive space (e.g., the payroll department
of car dealership 62). Accordingly, various departments within car
dealership 62 may request snapshots so that they may e.g., gage the
performance of the one or more performance-based employees (e.g.,
users 36, 38, 40, 42), process the payroll of the one or more
performance-based employees (e.g., users 36, 38, 40, 42), or
competitively rank the one or more performance-based employees
(e.g., users 36, 38, 40, 42).
[0115] In response to receiving 702 the one or more snapshot
requests (e.g. request 86), compensation management process 10 may
save 704 at least a portion of the performance information (e.g.,
performance information 64) at the one or more points in time, thus
defining one or more snapshots (e.g., snapshots 92). For example,
if a snapshot is requested for user 36 on the last day of January,
compensation management process 10 may save 704 at least a portion
of the performance information (e.g., performance information 64)
for user 36 as of the last day of January, wherein this saved
portion of the performance information (e.g., performance
information 64) may be included within and/or used to define a
snapshot (e.g., one of snapshots 92) for user 36 as of the last day
of January.
[0116] It is foreseeable that a performance-based employee (e.g.,
user 36) may request a plurality of snapshots. Accordingly and when
receiving 702 one or more snapshot requests (e.g. request 86) for
at least a portion of the performance information (e.g.,
performance information 64) at one or more points in time,
compensation management process 10 may receive 706 a plurality of
snapshot requests (e.g. requests 94) for at least a portion of the
performance information (e.g., performance information 64) at a
plurality of points in time. Accordingly, assume that user 36 would
like to receive a snapshot so that they could see how they were
performing at the end of each of three months (e.g. January,
February, March). Accordingly, user 36 may submit three snapshot
requests (included within snapshot requests 94) that may be
received 706 by compensation management process 10.
[0117] Accordingly and when saving 704 at least a portion of the
performance information (e.g., performance information 64) at the
one or more points in time, thus defining one or more snapshots in
response to receiving the one or more snapshot requests (the three
snapshot requests included within snapshot requests 94),
compensation management process 10 may save 708 at least a portion
of the performance information (e.g., performance information 64)
at a plurality of points in time, thus defining a plurality of
snapshots (within snapshots 92). For example, compensation
management process 10 may save 708 at least a portion of the
performance information (e.g., performance information 64) for user
36 as of the last day of January, the last day of February and the
last day of March, wherein this saved portion of the performance
information (e.g., performance information 64) may be included
within and/or used to define a January snapshot, a February
snapshot and a March snapshot for user 36 (e.g., all of which may
be included within snapshots 92).
[0118] When a plurality of snapshots are defined (such as the
January snapshot, the February snapshot and the March snapshot for
user 36), compensation management process 10 may compare 710 the
plurality of snapshots (e.g., snapshots 92). For example,
compensation management process 10 may be configured to allow a
performance-based employee (e.g., user 36, 38, 40, 42) and/or a
manager (e.g., user 56) to compare 710 the plurality of snapshots
(e.g., snapshots 92) so that they may monitor (in this example)
month-to-month performance and e.g., trends may be
determined/predictions may be made.
[0119] Additionally and when receiving 702 one or more snapshot
requests (e.g. request 86) for at least a portion of the
performance information (e.g., performance information 64) at one
or more points in time, compensation management process 10 may
receive 712 one or more snapshot requests (e.g. request 86) for at
least a portion of the performance information (e.g., performance
information 64) at one or more points in time at a defined
periodicity. Examples of this defined periodicity may include but
are not limited to: once daily; once weekly; once monthly; prior to
effectuating payroll for the one or more performance-based
employees (e.g., users 36, 38, 40, 42); and subsequent to
effectuating payroll for the one or more performance-based
employees (e.g., users 36, 38, 40, 42).
Concept #8
[0120] Referring also to FIG. 9, compensation management process 10
may define 800 a performance-based income adjustment program (e.g.,
performance-based income adjustment program 94) for one or more
performance-based employees (e.g., users 36, 38, 40, 42) within an
automotive space. As discussed above, the automotive space may
include one or more of: an automotive sales space; an automotive
service space; an automotive body shop space; an automotive finance
& insurance space; an automotive administrative space; an
automotive franchisor space; and an automotive parts space.
[0121] This performance-based income adjustment program (e.g.,
performance-based income adjustment program 94) may be sponsored by
various entities, examples of which may include but are not limited
to an automotive dealership (e.g., car dealership 62) and/or an
automotive manufacturer (e.g., BMW, Chevrolet, Nissan). These
performance-based income adjustment programs (e.g.,
performance-based income adjustment program 94) are often referred
to as SPIFFS. As is known in the art, a SPIFF is slang for an
immediate bonus for a sale. Typically, spiffs are paid, either by a
manufacturer or employer, directly to a salesperson for selling a
specific product.
[0122] Compensation management process 10 may monitor 802
performance information (e.g., performance information 64) for the
one or more performance-based employees (e.g., users 36, 38, 40,
42) with respect to the performance-based income adjustment program
(e.g., performance-based income adjustment program 94) to determine
if the one or more performance-based employees (e.g., users 36, 38,
40, 42) qualifies for a performance-based income adjustment (e.g.,
performance-based income adjustment 96) associated with the
performance-based income adjustment program (e.g.,
performance-based income adjustment program 94).
[0123] As discussed above, this performance information (e.g.,
performance information 64) may include sales performance
information (e.g., sales performance information 66), wherein this
sales performance information (e.g., sales performance information
66) may include but is not limited to: a quantity of units sold
indicator, a date of units sold indicator, a cost of units sold
indicator, a margin of units sold indicator, an incentive
concerning units sold indicator, a type of units sold indicator and
a timing of units sold indicator.
[0124] This sales performance information (e.g., sales performance
information 66) may be obtained from one or more of: customer
relationship management (CRM) platform 150 (e.g., a platform that
enables a user/business to manage their relationship with actual
and potential clients), inventory management platform 152 (e.g., a
platform that enables a user/business to manage/order/sell their
inventory), accounting platform 154 (e.g., a platform that enables
a user/business to maintain their finances), proprietary data feed
170 (e.g., such as an internal sales data feed within car
dealership 62), proprietary data file 172 (e.g., such as an
internal sales data file within car dealership 62), proprietary
datastore 174, manually-entered data 176, and dealership management
platform 156.
[0125] Additionally, the performance information (e.g., performance
information 64) may include supplemental performance information
(e.g., supplemental performance information 68), wherein this
supplemental performance information (e.g., supplemental
performance information 68) may include one or more of: an
inventory age indicator; a minimum wage indicator; an hours worked
indicator; an employment history indicator; a customer feedback
indicator; an economic indicator; a team rating indicator; an
individual rating indicator; and an organization rating
indicator.
[0126] This supplemental performance information (e.g.,
supplemental performance information 68) may be obtained from one
or more of: social media platform 158, external rating platform
160, internal rating platform 162, inventory management platform
152, human resource management platform 164, proprietary data feed
170, proprietary data file 172, proprietary datastore 174,
manually-entered data 176, and business analytics platform 166.
[0127] Compensation management process 10 may adjust 804 the
compensation of the one or more performance-based employees (e.g.,
users 36, 38, 40, 42) to reflect the performance-based income
adjustment (e.g., performance-based income adjustment 96).
[0128] Examples of the performance-based income adjustment (e.g.,
performance-based income adjustment 96) may include but are not
limited to: a cash-based income adjustment (e.g., user 56 may
adjust 804 the compensation of a salesperson by distributing $100
bills to each salesperson that sells a car during a Super Saturday
Sale); a paperless income adjustment (e.g., user 56 may adjust 804
the compensation of a salesperson by electronically increasing a
salesperson's compensation by $100 each time they sell a car during
a Super Saturday Sale); an upward income adjustment (e.g., user 56
may adjust 804 the compensation of a salesperson (upwardly) for
meeting/exceeding the requirements of a sales event); and a
downward income adjustment (e.g., user 56 may adjust 804 the
compensation of a salesperson (downwardly) for failing to
meet/exceed the requirements of a sales event).
[0129] Compensation management process 10 may render 806 a user
interface (e.g., user interface 98) that defines the status of the
performance-based income adjustment program (e.g.,
performance-based income adjustment program 94). User interface 98
may be configured to be accessible by the one or more
performance-based employees (e.g., users 36, 38, 40, 42). The
status of the performance-based income adjustment program (e.g.,
performance-based income adjustment program 94) may include one or
more of: [0130] A starting date of the performance-based income
adjustment program (e.g., performance-based income adjustment
program 94). For example, user interface 98 may define the date on
which performance-based income adjustment program 94 will
begin/began. [0131] An ending date of the performance-based income
adjustment program (e.g., performance-based income adjustment
program 94). For example, user interface 98 may define the date on
which performance-based income adjustment program 94 will
end/ended. [0132] A quantity of income adjustments already
distributed; a quantity of income adjustments still available;
and/or recipients of any distributed income adjustments. For
example, user interface 98 may define one or more of: the total
value of performance-based income adjustment program 94, the number
of income adjustments already made under performance-based income
adjustment program 94, the number of income adjustments still
available under performance-based income adjustment program 94, and
the recipient(s) of any income adjustments already made under
performance-based income adjustment program 94. [0133] A sponsor of
the performance-based income adjustment program. For example, user
interface 98 may define car dealership 62 and/or a vehicle
manufacturer as the sponsor of performance-based income adjustment
program 94.
[0134] In the event that additional performance-based income
adjustment programs (not shown) are currently available, have been
available and/or will be available, user interface 98 may be
configured to define the status of all of these performance-based
income adjustment programs.
Concept #9
[0135] Referring also to FIG. 10, compensation management process
10 may define 900 one or more available compensation plans (e.g.,
compensation plans 60) for performance-based employees (e.g., users
36, 38, 40, 42) within an automotive space. As discussed above, the
automotive space may include one or more of: an automotive sales
space; an automotive service space; an automotive body shop space;
an automotive finance & insurance space; an automotive
administrative space; an automotive franchisor space; and an
automotive parts space. As also discussed above, these
performance-based employees (e.g., users 36, 38, 40, 42) may be a
performance-based sellers of products and/or services.
[0136] Compensation management process 10 may enable 902 a specific
performance-based employee (e.g., user 42) to review the one or
more available compensation plans (e.g., compensation plans 60) and
select a specific compensation plan (e.g., compensation plan 58).
For example, assume that when onboarding user 42 with respect to
car dealership 62, compensation management process 10 may enable
902 user 42 to review the one or more available compensation plans
(e.g., compensation plans 60 and (after reviewing the same) user 42
selects compensation plan 58. Specifically, the quantity of
compensation plans being reviewed by user 42 (in this example) may
vary from a singular compensation plan to as many compensation
plans as car dealership 62 (in this example) is offering.
Accordingly, if car dealership 62 only offers one compensation
plan, user 42 may review (and select from) one compensation plan.
Conversely, if car dealership 62 offers ten compensation plans,
user 42 may review (and select from) ten compensation plans.
[0137] Compensation management process 10 may require 904 the
specific performance-based employee (e.g., user 42) to memorialize
their selection of the specific compensation plan (e.g.,
compensation plan 58).
[0138] When requiring 904 the specific performance-based employee
(e.g., user 42) to memorialize their selection of the specific
compensation plan (e.g., compensation plan 58), compensation
management process 10 may require 906 the specific
performance-based employee (e.g., user 42) to memorialize their
selection of the specific compensation plan (e.g., compensation
plan 58) via e.g., an electronic signature, electronic initialing
and/or electronic confirmation.
[0139] Compensation management process 10 may be configured to
interface 908 with a payroll platform (e.g., payroll platform 168),
wherein compensation management process 10 may provide 910
confirmation of the specific performance-based employee (e.g., user
42) memorializing their selection of the specific compensation plan
(e.g., compensation plan 58) to the payroll platform (e.g., payroll
platform 168).
[0140] The payroll platform (e.g., payroll platform 168) may be
configured to compensate the specific performance-based employee
(e.g., user 42) in accordance with the specific compensation plan
(e.g., compensation plan 58) only after confirmation of the
specific performance-based employee (e.g., user 42) memorializing
their selection of the specific compensation plan (e.g.,
compensation plan 58) is received by the payroll platform (e.g.,
payroll platform 168). Accordingly, until the specific
performance-based employee (e.g., user 42) memorializes their
selection of the specific compensation plan (e.g., compensation
plan 58), the specific performance-based employee (e.g., user 42)
will not get paid by the payroll platform (e.g., payroll platform
168).
[0141] Compensation management process 10 may obtain 912
performance information (e.g., performance information 64) for the
specific performance-based employee (e.g., user 42).
[0142] As discussed above, this performance information (e.g.,
performance information 64) may include sales performance
information (e.g., sales performance information 66), wherein this
sales performance information (e.g., sales performance information
66) may include but is not limited to: a quantity of units sold
indicator, a date of units sold indicator, a cost of units sold
indicator, a margin of units sold indicator, an incentive
concerning units sold indicator, a type of units sold indicator and
a timing of units sold indicator.
[0143] This sales performance information (e.g., sales performance
information 66) may be obtained from one or more of: customer
relationship management (CRM) platform 150 (e.g., a platform that
enables a user/business to manage their relationship with actual
and potential clients), inventory management platform 152 (e.g., a
platform that enables a user/business to manage/order/sell their
inventory), accounting platform 154 (e.g., a platform that enables
a user/business to maintain their finances), proprietary data feed
170 (e.g., such as an internal sales data feed within car
dealership 62), proprietary data file 172 (e.g., such as an
internal sales data file within car dealership 62), proprietary
datastore 174, manually-entered data 176, and dealership management
platform 156.
[0144] Additionally, the performance information (e.g., performance
information 64) may include supplemental performance information
(e.g., supplemental performance information 68), wherein this
supplemental performance information (e.g., supplemental
performance information 68) may include one or more of: an
inventory age indicator; a minimum wage indicator; an hours worked
indicator; an employment history indicator; a customer feedback
indicator; an economic indicator; a team rating indicator; an
individual rating indicator; and an organization rating
indicator.
[0145] This supplemental performance information (e.g.,
supplemental performance information 68) may be obtained from one
or more of: social media platform 158, external rating platform
160, internal rating platform 162, inventory management platform
152, human resource management platform 164, proprietary data feed
170, proprietary data file 172, proprietary datastore 174,
manually-entered data 176, and business analytics platform 166.
[0146] Assuming that confirmation of the specific performance-based
employee (e.g., user 42) memorializing their selection of the
specific compensation plan (e.g., compensation plan 58) is received
by the payroll platform (e.g., payroll platform 168), compensation
management process 10 may calculate 914 compensation information
(e.g., compensation information 74) for the specific
performance-based employee (e.g., user 42) based, at least in part,
upon the performance information (e.g., performance information 64)
and the specific compensation plan (e.g., compensation plan
58).
Concept #10
[0147] Referring also to FIG. 11, compensation management process
10 may define 1000 a plurality of known error types (e.g., error
types 100) within a payroll platform (e.g., payroll platform 168)
for use within an automotive space. As discussed above, the
automotive space may include one or more of: an automotive sales
space; an automotive service space; an automotive body shop space;
an automotive finance & insurance space; an automotive
administrative space; an automotive franchisor space; and an
automotive parts space. Examples of such known error types may
include but are not limited to: inaccurate vehicle cost; inaccurate
vehicle profit, inaccurate sales dates, inaccurate commission
rates, and inaccurate vehicle descriptions.
[0148] Compensation management process 10 may obtain 1010
performance information (e.g., performance information 64) for a
plurality of performance-based employees (e.g., users 36, 38, 40,
42) within the automotive space. As discussed above, these
performance-based employees (e.g., users 36, 38, 40, 42) may be a
performance-based sellers of products and/or services.
[0149] As also discussed above, this performance information (e.g.,
performance information 64) may include sales performance
information (e.g., sales performance information 66), wherein this
sales performance information (e.g., sales performance information
66) may include but is not limited to: a quantity of units sold
indicator, a date of units sold indicator, a cost of units sold
indicator, a margin of units sold indicator, an incentive
concerning units sold indicator, a type of units sold indicator and
a timing of units sold indicator.
[0150] This sales performance information (e.g., sales performance
information 66) may be obtained from one or more of: customer
relationship management (CRM) platform 150 (e.g., a platform that
enables a user/business to manage their relationship with actual
and potential clients), inventory management platform 152 (e.g., a
platform that enables a user/business to manage/order/sell their
inventory), accounting platform 154 (e.g., a platform that enables
a user/business to maintain their finances), proprietary data feed
170 (e.g., such as an internal sales data feed within car
dealership 62), proprietary data file 172 (e.g., such as an
internal sales data file within car dealership 62), proprietary
datastore 174, manually-entered data 176, and dealership management
platform 156.
[0151] Additionally, the performance information (e.g., performance
information 64) may include supplemental performance information
(e.g., supplemental performance information 68), wherein this
supplemental performance information (e.g., supplemental
performance information 68) may include one or more of: an
inventory age indicator; a minimum wage indicator; an hours worked
indicator; an employment history indicator; a customer feedback
indicator; an economic indicator; a team rating indicator; an
individual rating indicator; and an organization rating
indicator.
[0152] This supplemental performance information (e.g.,
supplemental performance information 68) may be obtained from one
or more of: social media platform 158, external rating platform
160, internal rating platform 162, inventory management platform
152, human resource management platform 164, proprietary data feed
170, proprietary data file 172, proprietary datastore 174,
manually-entered data 176, and business analytics platform 166.
[0153] Compensation management process 10 may process 1020 the
performance information (e.g., performance information 64) based,
at least in part, upon the plurality of known error types (e.g.,
error types 100) to identify one or more errors (e.g., errors 102)
within the performance information (e.g., performance information
64). For example, compensation management process 10 may process
1020 the performance information (e.g., performance information 64)
to identify e.g., vehicles that have a cost of zero dollars, sales
that have an abnormally high/low commission rate, vehicles that
have a sales date that is some time in the future, etc.
[0154] Once these errors (e.g., errors 102) are identified,
compensation management process 10 may notify 1030 a user (e.g.,
user 56) of the one or more errors (e.g., errors 102) within the
performance information (e.g., performance information 64).
[0155] Additionally/alternatively, compensation management process
10 may correct 1040 the one or more errors (e.g., errors 102)
within the performance information (e.g., performance information
64), thus defining corrected performance information (e.g.,
performance information 64'). Compensation management process 10
may then calculate 1050 the compensation information (e.g.,
compensation information 70) for the performance-based employees
(e.g., users 36, 38, 40, 42) based, at least in part, upon the
corrected performance information (e.g., performance information
64').
General
[0156] As will be appreciated by one skilled in the art, the
present disclosure may be embodied as a method, a system, or a
computer program product. Accordingly, the present disclosure may
take the form of an entirely hardware embodiment, an entirely
software embodiment (including firmware, resident software,
micro-code, etc.) or an embodiment combining software and hardware
aspects that may all generally be referred to herein as a
"circuit," "module" or "system." Furthermore, the present
disclosure may take the form of a computer program product on a
computer-usable storage medium having computer-usable program code
embodied in the medium.
[0157] Any suitable computer usable or computer readable medium may
be utilized. The computer-usable or computer-readable medium may
be, for example but not limited to, an electronic, magnetic,
optical, electromagnetic, infrared, or semiconductor system,
apparatus, device, or propagation medium. More specific examples (a
non-exhaustive list) of the computer-readable medium may include
the following: an electrical connection having one or more wires, a
portable computer diskette, a hard disk, a random access memory
(RAM), a read-only memory (ROM), an erasable programmable read-only
memory (EPROM or Flash memory), an optical fiber, a portable
compact disc read-only memory (CD-ROM), an optical storage device,
a transmission media such as those supporting the Internet or an
intranet, or a magnetic storage device. The computer-usable or
computer-readable medium may also be paper or another suitable
medium upon which the program is printed, as the program can be
electronically captured, via, for instance, optical scanning of the
paper or other medium, then compiled, interpreted, or otherwise
processed in a suitable manner, if necessary, and then stored in a
computer memory. In the context of this document, a computer-usable
or computer-readable medium may be any medium that can contain,
store, communicate, propagate, or transport the program for use by
or in connection with the instruction execution system, apparatus,
or device. The computer-usable medium may include a propagated data
signal with the computer-usable program code embodied therewith,
either in baseband or as part of a carrier wave. The computer
usable program code may be transmitted using any appropriate
medium, including but not limited to the Internet, wireline,
optical fiber cable, RF, etc.
[0158] Computer program code for carrying out operations of the
present disclosure may be written in an object oriented programming
language such as Java, Smalltalk, C++ or the like. However, the
computer program code for carrying out operations of the present
disclosure may also be written in conventional procedural
programming languages, such as the "C" programming language or
similar programming languages. The program code may execute
entirely on the user's computer, partly on the user's computer, as
a stand-alone software package, partly on the user's computer and
partly on a remote computer or entirely on the remote computer or
server. In the latter scenario, the remote computer may be
connected to the user's computer through a local area network/a
wide area network/the Internet (e.g., network 14).
[0159] The present disclosure is described with reference to
flowchart illustrations and/or block diagrams of methods, apparatus
(systems) and computer program products according to embodiments of
the disclosure. It will be understood that each block of the
flowchart illustrations and/or block diagrams, and combinations of
blocks in the flowchart illustrations and/or block diagrams, may be
implemented by computer program instructions. These computer
program instructions may be provided to a processor of a general
purpose computer/special purpose computer/other programmable data
processing apparatus, such that the instructions, which execute via
the processor of the computer or other programmable data processing
apparatus, create means for implementing the functions/acts
specified in the flowchart and/or block diagram block or
blocks.
[0160] These computer program instructions may also be stored in a
computer-readable memory that may direct a computer or other
programmable data processing apparatus to function in a particular
manner, such that the instructions stored in the computer-readable
memory produce an article of manufacture including instruction
means which implement the function/act specified in the flowchart
and/or block diagram block or blocks.
[0161] The computer program instructions may also be loaded onto a
computer or other programmable data processing apparatus to cause a
series of operational steps to be performed on the computer or
other programmable apparatus to produce a computer-implemented
process such that the instructions which execute on the computer or
other programmable apparatus provide steps for implementing the
functions/acts specified in the flowchart and/or block diagram
block or blocks.
[0162] The flowcharts and block diagrams in the figures may
illustrate the architecture, functionality, and operation of
possible implementations of systems, methods and computer program
products according to various embodiments of the present
disclosure. In this regard, each block in the flowchart or block
diagrams may represent a module, segment, or portion of code, which
comprises one or more executable instructions for implementing the
specified logical function(s). It should also be noted that, in
some alternative implementations, the functions noted in the block
may occur out of the order noted in the figures. For example, two
blocks shown in succession may, in fact, be executed substantially
concurrently, or the blocks may sometimes be executed in the
reverse order, depending upon the functionality involved. It will
also be noted that each block of the block diagrams and/or
flowchart illustrations, and combinations of blocks in the block
diagrams and/or flowchart illustrations, may be implemented by
special purpose hardware-based systems that perform the specified
functions or acts, or combinations of special purpose hardware and
computer instructions.
[0163] The terminology used herein is for the purpose of describing
particular embodiments only and is not intended to be limiting of
the disclosure. As used herein, the singular forms "a", "an" and
"the" are intended to include the plural forms as well, unless the
context clearly indicates otherwise. It will be further understood
that the terms "comprises" and/or "comprising," when used in this
specification, specify the presence of stated features, integers,
steps, operations, elements, and/or components, but do not preclude
the presence or addition of one or more other features, integers,
steps, operations, elements, components, and/or groups thereof.
[0164] The corresponding structures, materials, acts, and
equivalents of all means or step plus function elements in the
claims below are intended to include any structure, material, or
act for performing the function in combination with other claimed
elements as specifically claimed. The description of the present
disclosure has been presented for purposes of illustration and
description, but is not intended to be exhaustive or limited to the
disclosure in the form disclosed. Many modifications and variations
will be apparent to those of ordinary skill in the art without
departing from the scope and spirit of the disclosure. The
embodiment was chosen and described in order to best explain the
principles of the disclosure and the practical application, and to
enable others of ordinary skill in the art to understand the
disclosure for various embodiments with various modifications as
are suited to the particular use contemplated.
[0165] A number of implementations have been described. Having thus
described the disclosure of the present application in detail and
by reference to embodiments thereof, it will be apparent that
modifications and variations are possible without departing from
the scope of the disclosure defined in the appended claims.
* * * * *