Case study: Coats sews up better management
Sewing thread and needlecraft supplies firm Coats is rolling out an online-hosted compensation management (CM) tool.
The system, provided by consultants Mercer, will allow Coats to manage its market data more effectively and improve the efficiency of its CM. This will be achieved by market position analysis and benchmarking an employee’s data against the data on base pay and total remuneration outlined in Mercer’s annual survey.
Adam Phillpot, head of reward at Coats, says: “It enables us to make more effective decisions on compensation management, and we can implement these without the need for hiring and training additional resources.”
The tool, which will be applied to Coats’ top 500 staff in more than 70 countries, is designed to streamline its CM processes. It will enable Coats’ reward staff to achieve more in-depth analysis and benchmarking of pay, as well as free up time for them to carry out other strategic activities.