CHALLENGE
NB Business Solutions took on a formidable challenge when approached by a prominent global oilfield services company headquartered in Houston and Louisiana. Recently making its debut on the IPO stage, the company grappled with intricate HR and executive compensation reporting requirements. The hurdles they faced were manifold: a scarcity of essential HR data for comprehensive reporting, an absence of uniform data collection processes, data inconsistencies, a lack of standards, data dispersed across a myriad of systems, and a pronounced gap in governance and data security, affecting input, access, and modification.
SOLUTION
In response, NBBS swiftly crafted a comprehensive solution to tackle the client's diverse challenges. We embarked on a meticulous journey, gathering and consolidating data from various HR sources, followed by rigorous data reconciliation. Collaborating closely with local HR and management teams, we validated and verified the data, gaining invaluable insights into the organization's specific needs and reporting requisites. Workshops were conducted to define data fields, ultimately giving rise to a centralized repository replete with predefined, valid values. This methodical approach paved the way for the development of tailored dashboards and reports, furnishing the client with a robust reporting framework. Subsequently, NBBS guided the selection of suitable tools and technologies to automate and streamline global HR operations and administration.
RESULTS
The ramifications of NB Business Solutions' intervention were nothing short of transformative. The company bore witness to the development of a comprehensive compensation philosophy and strategy, complemented by consistent job titling and precise definitions spanning various job levels and families. Armed with market benchmarking insights, the company gained a clear understanding of its competitive position in executive and employee compensation. The seamless integration of HR data into Workday HRMS, facilitated by NBBS, ensured centralized data management for HR, payroll, operations, and analytics. Moreover, the implementation of automated processes streamlined the administration of short-term incentive plans and global merit increase programs. As an ongoing endeavor, the company is now poised to generate reports, track trends, collaborate effectively with leadership to set objectives and pinpoint areas for improvement, ushering in a more strategic, data-driven HR approach.