PEER4MANCE was invented because someone had to.
The business process of calculating payroll and its correlation to productivity has been largely untouched by technology for a hundred years. The blunt object tool of two-variable payroll algorithms (hours worked x hourly rate or revenue generated x commission rate) isn’t working to create more productivity or motivation, even in places like San Francisco, Seattle and New York where the minimum wage has increased by 50% over the last few years.
Companies “do payroll” inefficiently because they always have. The cost in financial and human capital is tolerated because inertia has been baked into the operating rhythms of small and medium-sized businesses (SMBs) forever. There are millions of small businesses that struggle to fill jobs collectively paying hundreds of millions of dollars that ineffectively perform all the routines required just to “do payroll” before it is manually transmitted for processing, usually to a fee-for-service company like ADP.
The time-consuming and often inaccurate manual collection, correlation and reporting of data for business processes like payroll, reconciling credit card receipts or administering documents is perpetuated because owners and managers are often separated from the performance of jobs and the people assigned to do the work rarely have influence over their contribution to outcomes. The monotony and inefficiency of these and many other SMB business processes are carbon monoxide poisoning – unnoticed but deadly to performance.
PEER4MANCE helps businesses rationalize and automate their compensation models. It allows businesses to factor value drivers into compensation without being driven nuts by the complexity of managing so many variables.
PEER4MANCE saves time and money in the “doing payroll” process by automating the collection and correlation of data from multiple, incompatible sources.
PEER4MANCE allows professionals who provide accounting and reporting services to companies to cost-effectively access and evaluate end-result data and provide valuable insights for their business owner clients.
PEER4MANCE saves money and eliminates the errors of manual data transfer by automating the upload of completed gross wages and clocked hours to payroll processing companies.
PEER4MANCE energizes employees by letting them access their payroll data in real-time, understanding how they are doing compared to previous periods, how they are doing compared to their peers and how their performance impacts the company.
PEER4MANCE builds trust among owners, managers and employees by connecting them in real-time communication channels.
PEER4MANCE automates manual tasks that involve the collection, correlation and sharing of data.