Automated Compensation Assessment System for Recruitment
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Solution Overview
Problem
Current human resource assessment and negotiation systems are inefficient due to reliance on text-based data, leading to incomplete, inaccurate, and non-standardized compensation assessments, which fail to match component-wise compensation details with candidate profiles, resulting in high costs and inefficiencies in recruiting qualified candidates.
Innovation Solution
A system and method for automated compensation assessment and negotiation that utilizes a closed-loop transaction process, including a candidate selection module, compensation data recording, salary proposal creation, acceptance feedback, and offer release modules, to provide standardized and component-wise verified salary proposals based on median salary ranges, statutory minimum wages, and other factors, enabling section-wise negotiation and adherence to minimum wage regulations.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of manufacture
If text-based data is used for compensation assessment, then the system is simple to implement, but the assessment becomes incomplete and inaccurate
Solution Approach 1:
The patent changes the data parameters from unstructured text to structured tabular data with standardized columns for compensation components. This allows the system to process compensation information more accurately while maintaining implementation simplicity through automated data extraction and standardization processes.
Solution Approach 2:
The patent introduces an intermediary data processing layer that converts various text-based compensation information into a standardized tabular format. This intermediary structure enables accurate compensation assessment by organizing data into consistent categories before analysis.
2Extent of automation
If text file resume automation is used, then the process is automated, but the matching of compensation details with candidate profiles becomes poor
Solution Approach 1:
The patent segments the compensation data into distinct components (fixed compensation, variable compensation, benefits, additional payments) organized in separate columns. This segmentation enables precise matching of each compensation component with corresponding candidate profile attributes, improving overall matching accuracy while maintaining automation.
Solution Approach 2:
The patent applies local quality by tailoring the compensation assessment to specific candidate profiles and job requirements. The system evaluates different compensation components differently based on the specific needs of each candidate and position, rather than using a uniform assessment approach.
3Reliability
If conventional assessment technology is used, then the system is established and recognized, but it cannot match component-wise compensation details with candidate profiles
Solution Approach 1:
The patent divides the compensation information into distinct segmented components (fixed compensation, variable compensation, benefits, additional payments) with dedicated columns for each. This segmentation preserves all component-wise information while maintaining system reliability through structured data processing and verification mechanisms.
Solution Approach 2:
The patent incorporates feedback mechanisms that verify compensation data accuracy and consistency. The system provides feedback loops to ensure that component-wise compensation details are correctly extracted, matched, and validated against candidate profiles and job requirements, preventing information loss.
4Adaptability or versatility
If manual compensation negotiation is used, then flexibility is maintained, but the process is time-consuming and costly
Solution Approach 1:
The patent performs preliminary action by pre-calculating and preparing standardized compensation proposals based on candidate profiles and job requirements before the negotiation phase. This preparation includes determining compensation ranges, components, and structures in advance, which then guides the negotiation process and reduces the time required for discussions.
Solution Approach 2:
The patent introduces dynamics by enabling flexible adjustment of compensation components during the negotiation process. The system allows real-time modification of compensation proposals based on negotiation outcomes while maintaining an automated framework, thus preserving flexibility without proportionally increasing time consumption.
Data Source
AI summary
The technology relates to a system and a method for assessing and negotiating compensation of a human resource (candidate). Upon selection of a candidate(s), the method comprises of receiving compensation information of the candidate(s). The compensation assessment and negotiation system generates a salary proposal based on at least one of the compensation data, an assessment score of the candidate, a location, a minimum wage, a threshold salary and a recruitment policy. The compensation assessment and negotiation system also allows the candidate to negotiate the salary proposal by submitting a second salary proposal to the system. The compensation assessment and negotiation system thereafter generates a revised salary proposal in response to the second salary proposal. The compensation assessment and negotiation system rolls an offer to the candidate upon receiving a positive response on the salary proposal.