System and method for collecting and analyzing competitive rewards data
First Claim
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1. A competitive rewards database system comprising:
- a) competitive rewards database operative to collect through one or more data feeds raw competitive rewards data comprising at least one of base pay data, long term incentive pay data, annual incentive data, and benefit plan provision data for employees of an entity and competitive rewards data from a plurality of sources other than the entity;
b) data mapping table for automatically mapping the raw competitive rewards data prior to incorporation into the competitive rewards database by mapping the raw competitive rewards data to benchmarks comprising job function, discipline or scope;
c) a computer system, coupled to the competitive rewards database via a data communications channel, operative to provide the competitive rewards data for employees of the entity to the competitive rewards database on behalf of the entity; and
d) a rewards workbench, configured to query the competitive rewards database in support of analysis of the mapped competitive rewards data, wherein the analysis comprises a comparison of the competitive rewards data to at least one of the benchmarks.
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Abstract
The invention concerns a system and method for implementing and/or administering a competitive rewards database. Member data is received from at least one member computer via a data feed. The (raw) member data is automatically mapped and incorporated into the competitive rewards database. A data capture tool, preferably coupled to a data network, is operable to adjust the mapping of member data. A rewards workbench, preferably coupled to a data network, is generally operable to query the competitive rewards database.
30 Citations
25 Claims
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1. A competitive rewards database system comprising:
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a) competitive rewards database operative to collect through one or more data feeds raw competitive rewards data comprising at least one of base pay data, long term incentive pay data, annual incentive data, and benefit plan provision data for employees of an entity and competitive rewards data from a plurality of sources other than the entity; b) data mapping table for automatically mapping the raw competitive rewards data prior to incorporation into the competitive rewards database by mapping the raw competitive rewards data to benchmarks comprising job function, discipline or scope; c) a computer system, coupled to the competitive rewards database via a data communications channel, operative to provide the competitive rewards data for employees of the entity to the competitive rewards database on behalf of the entity; and d) a rewards workbench, configured to query the competitive rewards database in support of analysis of the mapped competitive rewards data, wherein the analysis comprises a comparison of the competitive rewards data to at least one of the benchmarks. - View Dependent Claims (2, 3, 4, 5)
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6. A method for administering a competitive rewards database comprising:
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a) collecting through one or more data feeds raw competitive rewards data comprising at least one of base pay data, long term incentive pay data, annual incentive pay data, and benefit plan provision data for employees of an entity and competitive rewards data from a plurality of sources other than the entity; b) automatically mapping the raw competitive rewards data for incorporation into the competitive rewards database by mapping the raw competitive rewards data to benchmarks comprising job function, discipline, or scope; c) incorporating the mapped competitive rewards data into the records of the competitive rewards database; d) analyzing the mapped competitive rewards data by performing a comparison of the competitive rewards data to one of the benchmarks maintained by the competitive rewards database; and e) generating a presentation of results for the competitive rewards analysis. - View Dependent Claims (7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17)
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18. A method for managing competitive rewards data for an entity, comprising:
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collecting the raw competitive rewards data through one or more data feeds for incorporation in a database, the raw competitive rewards data comprising at least one of base pay data, long term incentive pay data, annual incentive pay data, and benefit plan provision data for employees of the entity and competitive rewards data from a plurality of sources other than the entity; using a data mapping table to automatically map the raw competitive rewards data for incorporation into the database by mapping the raw competitive rewards data to a plurality of employment-related benchmarks; storing the mapped competitive rewards data in a plurality of records of the database; completing an analysis of the mapped competitive rewards data for one or more of the employees by comparing the competitive reward data to one of the benchmarks; and generating a report presenting results of the analysis. - View Dependent Claims (19, 20, 21, 22, 23, 24, 25)
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Specification