ICM and the Impact of ESG Directives  on Gender Pay Equality

ESG directives require companies to report and close gender pay gaps. Incentive Compensation Management (ICM) software can help!

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Environmental, Social, and Governance (ESG) directives are increasingly shaping corporate policies worldwide.

Among the various aspects of ESG, gender pay equality stands out as a critical issue. This article explores how and when ESG directives will influence the area of equal pay between genders, highlighting the mechanisms and timelines involved.

The Role of ESG in Promoting Gender Pay Equality

ESG directives emphasize the importance of fair treatment, diversity, and inclusion within organizations. Gender pay equality is a fundamental component of the social dimension of ESG. By prioritizing equal pay, companies not only comply with ethical standards but also enhance their overall ESG performance. This focus on gender equality helps build a more inclusive workplace, fostering innovation and better decision-making.

Mechanisms of Influence

The influence of ESG directives on gender pay equality is primarily driven by regulatory requirements and reporting standards. For instance, the EU directive on pay transparency mandates that companies with more than 250 employees starting 2025/2026 report annually on the gender pay gap within their organization. This transparency ensures that discrepancies are identified and addressed, holding companies accountable for their pay practices.

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What is ICM software

ICM (Incentive Compensation Management) software, used for automatic variable pay calculation, not only removes complexity of manual commission calculation errors but also offers a myriad of other benefits that enhance organizational efficiency:

It ensures accuracy in commission calculations, reducing the risk of mistakes that can erode trust and lead to financial discrepancies.

It saves valuable time and resources by automating complex compensation processes, allowing HR teams to focus on strategic initiatives.

It provides real-time visibility and transparency into compensation data, aiding in better decision-making and compliance with regulatory standards.

It can be customized to align with the unique compensation structures of different organizations, ensuring flexibility and scalability.

It improves employee satisfaction and motivation by ensuring timely and accurate compensation, thereby fostering a culture of trust and fairness.

How ICM helps to meet ESG requirements

ICM software can significantly aid enterprises in meeting ESG gender pay gap reporting requirements and reducing the actual gender pay gap. By automating the collection and analysis of compensation data, ICM software ensures accurate and timely reporting on gender pay disparities, as mandated by regulations. It provides detailed insights into pay structures, enabling companies to identify and address inequities. Additionally, ICM software supports the implementation of standardized pay practices and transparent salary frameworks, which are crucial for maintaining fair compensation. By facilitating regular pay audits and offering tools for monitoring progress, ICM software helps organizations not only comply with ESG directives but also foster a more equitable workplace.

Specifically, the following areas can be addressed using ICM software

Regular Pay Audits

Conducting regular pay audits helps identify and rectify any gender-based pay disparities. These audits involve analyzing compensation data to ensure that employees are paid equitably for similar roles and responsibilities.

Standardized Pay Structures

Pay Transparency

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Technology

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Our comprehensive services encompass the entire lifecycle of sales performance management, from strategic planning to deployment and ongoing optimization.

Strategy

Among our strategy services, we encompass the accurate definition of goals and precise identification of requirements. Throughout this process, our guidance is shaped not solely by the current state of the organization, but most importantly, by its aspirations in the years following system implementation.

Compensation Plan Audits

Commission Analyst as a Service

Implementation Readiness Assessment

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Deployment

The core of our services revolves around implementing ICM/SPM solutions comprehensively and end-to-end,
a fundamental aspect for the majority of our customers.

System Implementation

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Custom Training / Education / Learning / Enablement

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Optimization

Optimization services enable a thorough examination of the implementation's correctness and the effective utilization of the ICM/SPM system aligned with your business goals. We assist companies in crafting and implementing custom reports while also managing system migrations.

Reporting and Analytics

Implementation Healthchecks and Technical Audits

System Optimization

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Case studies

Implementation of Xactly Incent in Xing

Commission Expense Accounting

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What our business partners say about us

SANDS Partners have been instrumental for the expansion of the Xactly international business and helped the transition to the partner-first delivery model. They have proven to be a reliable partner and support our increasing delivery demand.

SANDS’ customer centricity combined with their solid SPM expertise and excellent Xactly products knowledge help us provide amazing customer experience and achieve the best results for our customers

Chris Sloan

Senior Director Alliances EMEA & APAC

SANDS Partners helped us with the implementation of our complex incentive models in XACTLY Incent and loading the system with Data from our CRM System Saleforce.com. We encoutered technical difficulties in this process which SANDS consultants helped us to overcome with the result of a fully functional Incent System. The technical Staff was very skilled in implementing our requirements and the project was lead very well with a standardized procedure and documentation. We had a great project team spirit and the results speak for themselves.

Imo Jacobsen

Technical Project Lead

SANDS Partners are made up of young highly motivated and technically gifted consultants which are supported by an experienced leadership team. SANDS are always searching for ways to improve and deliver more value for their customers. Their efforts translates into truly tangible benefits for their customers, for example the recent investment in project management helps structure the team better, improves communication and allows the consultants to focus on delivery.

I have full trust in SANDS Partners and I look forward to more successful deliver with them in 2023 and beyond

Matthew Cuthill

Director Digital Transformation – Finance

SANDS Partners consultants arrived at our headquarters for kick-off . My first impression was that they knew what they were talking about, they were very credible. They asked many searching questions about various components, and we delved into the details. It is reassuring to know that they were focused on the details and have experience in this field.

Philip van Heerden

Head of RevOps

CaptivateIQ has been expanding its partner network as the business continues to experience significant growth. One area of focus is extending our global reach to provide more high-quality service delivery options for our customers. The team at SANDS Partners has over 15 years of domain expertise and is the premier partner for incentive compensation services in Eastern Europe.

Trevor Childers

Head of Enterprise Sales

Everyone from the SANDS Partners team was very supportive from the very beginning of the implementation project, including the fact that we wanted to accelerate the implementation cycle as much as we could. We wanted to get up and running as quickly as possible. The SANDS Partners team was great about starting the work quickly and they were very flexible even with some slowdowns from different sides. Also the team was pretty transparent, pretty open, and with a good level of communication about what was happening. They handled it the right way.

Ronak Dave

Financial and Sales Operations Manager

Demand for ZINKT products is growing fast, so it was important for us to find a key strategic service partner we can trust to provide best-in-class service in the EMEA markets.

When we work with our clients, we always take a holistic approach to projects, making sure we understand the upstream processes that affect payments accurately. The deep and extensive experience in the SANDS Partners team is unique both in the area of SPM and related upstream systems (such as Salesforce), which makes SANDS Partners an obvious partner for ZINKT.

What is the most important, our teams focus on the same fundamental goal – everything we do is to ensure our customers’ success.

Tom Swinbourne

Chief Executive Officer

Fastmarkets worked with SANDS Partners to implement our new Xactly Incent instance with an integration into Salesforce. The team we worked with was very professional, made themselves available on short notice and helped shaping the system as we were intending it to be. Their flexibility and support were top class and it allowed us to roll out a working system within our tight timeframes. The collaboration was pleasant and efficient, I would highly recommend this team and company to implement medium to large scale incentive automation projects.

Hugo Robein

Divisional Head of Sales Operations

„We choose SANDS Partners to cooperate on a project related to the commission system for our sellers. We knew it is going to be a difficult project to manage and maintain within the short time frame. By establishing a strong relationship built on mutual trust, professionalism, competence, flexibility and common understanding of the goal, we achieved it. That is why we are issuing this certificate of professionalism, competence and flexibility to this excellent relationship that started over a year ago.

The most important lesson we learned during this project is that choosing a competent, flexible and trusted vendor is critical to the success of the project. SANDS Partners have proven their worth many times; they have always gone the extra mile when needed and continue to work closely with us to help us achieve the required results. They are still a highly competent and trusted supplier and made no small contribution to the success of the project ”.

Colm Whelan

IT Project Manager

GRZEGORZ STRUŚ

Member of the Board, COO

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