U.S. Bank’s Streamlined and Centralized ICM Motivates Employees and Satisfies Regulators
An ICM Implementation Success Story
Minnesota-based U.S. Bank is the fifth-largest bank in the United States, with 73,000 employees and $462 billion in assets as of December 2017. U.S. Bank provides a comprehensive line of financial products and services that make banking safe, simple, and convenient.
With over 20,000 employees on compensation plans managed manually using spreadsheets, U.S. Bank saw the opportunity to streamline and centralize their incentive compensation management (ICM) process. This would give employees greater visibility into their performance and simplify compliance as well.
U.S. Bank chose OpenSymmetry to help navigate them through the implementation of their ICM solution, which allowed all aspects of the incentive compensation process, from calculations to reporting, to be automated and centralized.
“Thanks to OpenSymmetry, we now have transparency for all end-users in a centralized dashboard so that they know exactly how their incentive compensation is calculated.”
OpenSymmetry enables clients to achieve greater operational efficiency and get better sales results. OpenSymmetry is a global consulting company specializing in the planning, implementation, and optimization of industry leading technology suppliers of sales performance management solutions.