Four ways technology simplifies employee incentive plan administration

Everyone wants to find a way to make their working day more efficient. Ocorian has been supporting businesses with their corporate administration for decades, and we know many still manage employee incentive plans using spreadsheets and all the frustration that comes with that. As plan populations and legacy awards grow, manual processes may become increasingly inefficient, error-prone, and opaque, making valuable large-scale data analysis impossible.

Cloud-based solutions hugely simplify the management and tracking of incentive arrangements. Platforms provide a single virtual folder for your reward arrangements and a self-serve portal for employees. They automate repeating tasks and make sure the administration of plans is accurate, efficient and transparent.

We outline four reasons why introducing employee incentive software into your team is a must, enabling you to focus on other priorities within the business.

1. Accurate audit trails

Any changes made to equity ownership and awards are recorded, authenticated and immutably stored.

2. Greater visibility

The right software makes trust transactions, trustee shareholdings and award commitments easy to see and understand whilst providing 24/7 access to relevant tax and accounting information.

3. Employee awards tracking

Employee incentive plans can become increasingly complex as your business grows. An automated system can track employee incentive plans efficiently, using data analysis and, increasingly, artificial intelligence to help you create the most beneficial timetable around equity release and vesting schedules.

4. Employee information

Your people want to know what they have been granted, when it will vest and what they have already received. Where relevant they will want to keep track of valuations over time. Cloud-based systems make this information easily accessible. Employees can see their holdings, check vesting schedules and see models of the potential value of their shares.

How can Ocorian help? 

Our Jersey based Employee Incentives Services team has a stellar reputation and is widely regarded as a leading independent provider of trustee, administration, and system solutions for employee incentives arrangements with decades of experience between them. 

At Ocorian, we know the market inside out and partner with several software providers to ensure we have access to the right digital solution for our clients needs. Our incentive is to make incentive plan administration easier for everyone whether they are FTSE100/All share, AIM listed or private equity backed company.

We are always happy to discuss bespoke requests and to demonstrate our technology platform solutions. In addition, we are also an authority on Employee Benefit Trusts. Download our useful EBT guide and contact our Employee Incentives Services team today to find out more.