Compensation Planning Tool
The University of Toronto has implemented a new compensation planning tool with a “made @ U of T” approach to better meet departmental and divisional needs.
The Planning & Budget Office and EASI have implemented a “made @ U of T” approach to compensation planning, with improvements to the existing SAP tool (B6). This solution delivers many of the improvements sought by U of T’s financial planning community, while retaining the robust security, performance and familiar interface of the SAP platform.
This solution better meets departmental and divisional needs for accurate, multi-year compensation planning, and improves U of T’s long-range operating budget process – a process that accounts for 70 percent of the University’s total expenditures.
Beyond maintaining the core functionality of the current SAP B6 application, this tool supports a more efficient compensation planning process and provides the flexibility for future expansion as U of T’s needs change.
This solution launched on February 14, 2022 for the 2022-23 budget planning process.
WHY MAKE THIS TRANSITION?
- The B6 was developed at a time when U of T’s budget was a much more centrally-managed process (25 years ago) – divisions and departments now have greater responsibility for long-term planning.
- Planning & Budget and EASI are working to develop a tool that will meet the needs of a decentralized community of administrators with a diverse range of budgeting processes. As well, this tool will set the stage for future improvements.
- By partnering with divisions in the upfront development, we expect to increase efficiency, reduce risk, and avoid duplication of resources.
Benefits of the new compensation planning tool include:
- An improved, intuitive user experience, data analysis and validation that builds on the familiarity of the existing B6 tool.
- Long-range compensation planning with a six-year planning outlook and salary increase projections.
- A holistic view of compensation, which expands beyond the current data on appointed staff to include appointed hourly and non-appointed staff.
- Salary increase scenario planning, which allows divisional users to input long range increase assumptions for various employee groups
- Simplified compensation projections by automating USW grid step salary increase provision calculations (e.g. ATB, PTR, Merit, Grid etc.).
The tool includes:
- A multi-year compensation plan.
- A holistic view of appointed and non-appointed staff, hospital-based faculty, benefit costs and salary increase projections.
- Compensation scenario planning.
Note: PTR pool calculations will be launched separately.
This tool does not include:
- Overall financial modelling (non-compensation, capital, restricted funds).
- Reconciliation to financial accounts.
- Implementation of PTR or other salary increase processes.
Executive Director, Institutional Planning & Budget Administration
Director, Enterprise Applications and Deputy CIO
Senior Manager, Financial Information Systems, EASI
Manager, Budget Administration, Reporting, and Information Systems, Planning & Budget
Project Manager, EASI
Project Manager, EASI