Corning Advances Pay for Performance with Kadiri TotalComp.Business Editors/High-Tech Writers BURLINGAME, Calif.--(BUSINESS WIRE)--Feb. 19, 2002 Kadiri Solution Vital to Company's New Compensation Strategy; Expected to Deliver Full Return on Investment in Less than Five Months Kadiri Inc., a leading provider of human capital management applications, today announced that Corning Incorporated Corning Incorporated NYSE: GLW is an American manufacturer of glass, ceramics and related materials, primarily for industrial and scientific applications. The company was known until 1989 as Corning Glass Works. has selected Kadiri TotalComp(TM) to streamline its compensation planning process. A technological leader for over 150 years, Corning recently redesigned its total compensation programs to better align pay and benefits with employee performance and market-based compensation data. Kadiri TotalComp is a critical component of this redesign re·de·sign tr.v. re·de·signed, re·de·sign·ing, re·de·signs To make a revision in the appearance or function of. re effort because it delivers a comprehensive decision-support platform that allows Corning to link pay to performance and more effectively utilize its compensation budgets. With Kadiri TotalComp in place, Corning expects to significantly reduce its future compensation planning cycle times. "Kadiri TotalComp offered the best-fit solution, right out of the box, to help communicate and manage our new compensation program," explained John MacMahon, vice president of worldwide compensation at Corning. "We've converted from a narrow salary-grade pay structure to one that requires our managers to simultaneously weigh multiple internal and external factors against employee contribution. It has become more difficult to efficiently manage such a program using the spreadsheets and manual approval processes that we've relied on in the past. So it was imperative that we find the right web-based total compensation management tool, and for us that's Kadiri TotalComp." Corning selected Kadiri TotalComp because the Kadiri solution best addresses the complexities of planning base pay, variable pay and stock compensation, all within a single, configurable, user-friendly interface. Corning will begin using Kadiri TotalComp to plan for up to 10,000 domestic, salaried employees over the next several years. Kadiri TotalComp empowers managers to make informed and effective pay decisions by giving them desktop access to a complete set of analytical planning tools that work in conjunction with performance and competitive market data. The solution's patented Kadiri KnowledgeManager(TM) e-learning system provides managers with just-in-time compensation philosophy, guidelines guidelines, n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks. and rules. And because Kadiri TotalComp enables managers to see the overall impact of their pay recommendations as they plan, it will enable Corning to make more strategic and effective use of its total compensation budgets -- an important process in ensuring competitive success now and in the future. "By paying to market and according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. performance, Corning will have the opportunity to drive greater efficiencies, not only against finite compensation budgets but also in day-to-day operations because by doing so the company can reward and retain its top performers," said Julia Simovsky, director of product management at Kadiri. "Kadiri TotalComp does more than simply streamline compensation planning processes; as a decision-making platform, Kadiri TotalComp gives managers the power to build ever greater performance standards across all levels of the organization. Over time this will only reinforce a company's competitive advantage." About Corning Established in 1851, Corning Incorporated (www.corning.com) creates leading-edge technologies for the fastest-growing markets of the world's economy. Corning manufactures optical fiber, cable and photonic Dealing with light (photons). See photon and photonics. products for the telecommunications industry; and high-performance displays and components for television, information technology and other communications-related industries. The company also uses advanced materials Advanced Materials is a leading peer-reviewed materials science journal published every two weeks. Advanced Materials includes Communications, Reviews, and Feature Articles from the cutting edge of materials science, including topics in chemistry, physics, to manufacture products for scientific, semiconductor and environmental markets. Corning revenues for 2001 were $6.3billion. About Kadiri Kadiri Inc. is a leading provider of Human Capital Management solutions. The company's Kadiri TotalComp(TM) solution simplifies compensation planning, including salary, variable pay and stock by integrating employee information, analytical tools, expert knowledge and situation-specific guidance. Kadiri TotalComp significantly shortens compensation planning cycles by enabling line managers to make informed decisions at the desktop. Highly functional and easy to configure See configuration. (software) configure - A program by Richard Stallman to discover properties of the current platform and to set up make to compile and install gcc. Cygnus configure was a similar system developed by K. , Kadiri TotalComp is revolutionizing the way companies manage total compensation. Customers include Corning, Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance , Dupont, GAP, Georgia Pacific, Kaiser Permanente Kaiser Permanente is an integrated managed care organization, based in Oakland, California, founded in 1945 by industrialist Henry J. Kaiser and physician Sidney R. Garfield. , Qwest, Washington Mutual “WaMu” redirects here. For the Washington, DC radio station, see WAMU. Washington Mutual (or WaMu; NYSE: WM) is the United States' largest savings and loan association. and Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. . Kadiri is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. headquartered in Burlingame, Calif., and can be contacted at 877/642-2299 or www.kadiri.com. Note to Editors: Kadiri TotalComp and Kadiri Knowledge Manager are trademarks of Kadiri Inc. All other names are trademarks or registered trademarks of their respective owners. |
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