Compensation Management Software

TrustRadius Top Rated for 2024

Top Rated Products

(1-5 of 9)

1
CaptivateIQ

CaptivateIQ in San Francisco offers their flagship sales commission management product designed to enable companies to manage and tailor mission critical sales incentive compensation programs for their workforce.

2
Salesforce Spiff

Spiff headquartered in Sandy offers their sales commission engine and automation platform, providing a personalized performance dashboard for individual contributors, commission plan building tools, approval workflow for commission plans, and integrations with payment (e.g. Stripe,…

3
Arcoro HR

Arcoro is an HR technology company focused on the construction industry, offering solutions to help companies hire, manage and grow their back office, professional and skilled trade workforce.

4
SAP SuccessFactors

SAP SuccessFactors is a suite of HR/HCM products covering these capability areas: core HR and payroll, recruiting and onboarding, learning and development, performance and compensation management, workforce analytics and planning, and employee experience management.

5
Workday Human Capital Management

Workday Human Capital Management is built as a cloud-based system with global consistency in user experience. Workday HCM is part of a broader system with other Workday products.

All Products

(1-25 of 100)

1
ADP Workforce Now

ADP Workforce Now is a cloud-based HR platform for mid-sized businesses. It features customizable modules of various HR services that businesses can tailor to their specific needs, as well as regulatory monitoring and alerts to help businesses remain compliant.

2
UKG Pro

UKG delivers cloud-based HCM solutions including UKG Pro that help businesses simplify payroll computations, accelerate talent acquisition, manage time and attendance, and support proactive, strategic talent management on a global level.

3
Paylocity

Paylocity provides 24/7 access to your online payroll and human resource data management. Paylocity offers highly customizable payroll functionality, as well as HR, benefits administration, and time and talent management programs.

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4
Dayforce

Dayforce HCM is a cloud-based platform encompassing HR, payroll, benefits, and talent and workforce management. It provides companies with a scalable framework and real-time data, such as continual pay calculations, to enable efficient decision-making.

5
SAP SuccessFactors

SAP SuccessFactors is a suite of HR/HCM products covering these capability areas: core HR and payroll, recruiting and onboarding, learning and development, performance and compensation management, workforce analytics and planning, and employee experience management.

6
Paycom

Paycom is a core HR management software solution. It includes features such as talent acquisition and management, time tracking, and payroll management. It offers some automation capacities, particularly regarding payroll.

7
CaptivateIQ

CaptivateIQ in San Francisco offers their flagship sales commission management product designed to enable companies to manage and tailor mission critical sales incentive compensation programs for their workforce.

8
Salesforce Spiff

Spiff headquartered in Sandy offers their sales commission engine and automation platform, providing a personalized performance dashboard for individual contributors, commission plan building tools, approval workflow for commission plans, and integrations with payment (e.g. Stripe,…

9
Workday Human Capital Management

Workday Human Capital Management is built as a cloud-based system with global consistency in user experience. Workday HCM is part of a broader system with other Workday products.

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10
Hibob

Hibob headquartered in London their HR management platform, bob. Hibob provides a wide range of features supporting talent management including onboarding administration and task management, payroll reporting and time tracking, and manager dashboard for tracking employee performance.…

11
Arcoro HR

Arcoro is an HR technology company focused on the construction industry, offering solutions to help companies hire, manage and grow their back office, professional and skilled trade workforce.

12
PeopleFluent

PeopleFluent includes modules for recruiting, performance management, compensation, learning, succession, and vendor management, as well as workforce planning and diversity. These modules can be purchased separately or bundled, and integrate with other HR systems.

13
QuotaPath

QuotaPath automates the commission process, helping revenue teams manage and track variable pay more seamlessly. Teams that use QuotaPath gain real-time visibility into commissions and forecasted earnings and see an increase in revenue and quota attainment as a result.

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14
PayScale Insight Lab

PayScale Insight Lab is a sales intelligence software solution offered by PayScale, Inc.

15
SumTotal Talent Development

The SumTotal Core Platform (formerly elixHR) is a human resource information system (HRIS) integrable with the SumTotal Talent Expansion Suite of software: SumTotal (LMS), and the SumTotal Work workforce management and payroll system. All SumTotal software is now offered and supported…

16
CompAnalyst

CompAnalyst is a compensation management software product from Salary.com. It includes survey data management, a job description builder, access to the Salary.com worldwide database (HR-reported salary data), and a dashboard to analyze internal pay practices vs. the market.

17
Iconixx Sales

Iconixx Sales is a cloud based sales compensation software application (SaaS) that enhances sales commission management with flexibility and scalability in an easy-to-use, all-in-one solution.

18
Talentsoft from Cegid

Talentsoft, now from Cegid (acquired July 2021) is a talent management suite consisting of Core HR capabilities (Talentsoft Hub), applicant tracking and recruiting (Hello Talent), corporate LMS, employee performance review and compensation management and planning, and requisite analytics.…

19
Welcome

Welcome is an intelligent compensation hub used to communicate offers to candidates and total rewards to employees — while making data-driven compensation decisions. It aims to help users increase acceptance rates by clearly communicating each offer and its total compensation with…

20
Mercer WIN | ePrism

Mercer consulting group in New York offers Mercer WIN | ePrism, a compensation management platform which supports resource optimization and compensation planning with deep analytics, easy data navigation with smooth workflow.

21
beqom

beqom is a Total Compensation Solution for HR & Sales to lead, align and motivate their employees and partners. The beqom Total Compensation platform is used globally across all industry sectors by over 100 large companies such as Microsoft and Pepsico. It addresses all Performance…

22
PayScale Payfactors

Payfactors, now part of PayScale, provides three data sources to help organizations quickly respond to a changing talent market and the technology for organizations of all sizes to create more equitable and transparent pay practices.

23
Pave

Pave is a suite of real-time compensation tools to help companies plan and communicate compensation, from the company operating under the same name headquartered in San Francisco.

24
Optymyze

Optymyze SPM Cloud supports a wide range of incentive compensation and sales performance needs with a comprehensve suite of fully-integrated applications that feature a common, touch-oriented UI, utilize a single, configurable data repository, and enable non-technical users to implement…

25
PayScale MarketPay

PayScale MarketPay is a compensation survey data aggregator that supports merit and structure modeling, report writer, and pricing wizard.

Compensation Management Software TrustMap

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Learn More About Compensation Management Software

What is Compensation Management Software?

Compensation management software allows organization leaders to plan and execute a compensation strategy. Beyond automating budget and pay tracking, compensation management software integrates real-world data to provide fair salaries, reward success, and manage flight risk. Compensation software supports the administration of variable pay programs like bonuses, merit, stock, and equity.

In addition to administration workflow and approvals, many compensation management applications provide what-if modeling and analytics. They also centralize approval workflows for compensation decisions. These tools are particularly relevant at larger organizations with multiple levels of management and an HR department that must sign off on certain compensation decisions.

Compensation management software is related to ICM (Sales Incentive Compensation Management). ICM software is designed to manage the vicissitudes of sales cycles to produce reasonable quotas and commission. Compensation management software is more general in scope. Also, some vendors of compensation management software focus on providing intelligence to guide data-driven compensation decision-making.

Compensation management software poses a range of benefits for organizations and administrators. These tools improve efficiency by automating compensation calculations and data transfers to payroll systems. Compensation management software also centralizes compensation data, enabling better security and data accessibility simultaneously. Data centralization also improves budgetary visibility and decision-making around compensation allocation.

Compensation management software can also integrate with, or be a part of, performance management systems, talent management software, or HCM suites. Standalone compensation management software should integrate with other leading HR systems. These integrations ensure that data can flow from system to system without requiring manual effort. These integrations are crucial to scalability.

Features of Compensation Management Software

Compensation management software provides the following set of capabilities:

  • Salary & commission tracking

  • Budgeting, forecasting, and approval workflow

  • Performance metrics, long-term planning, benefits deferral

  • Executive compensation

  • Import of updated real-world salary and comp data

  • Market pricing analytics, compensation research

  • Job description authoring guidance (e.g. competence, salary)

  • Salary review and policy/guideline compliance control

  • Competence and job matching

  • Flight risk analysis

  • Custom dashboards and report analytics

Compensation Management Comparison

When comparing compensation management software, consider these factors:

  • Use Case: Does the organization mostly handle standard compensation structures like raises and promotions? Or does it utilize more complex mechanisms like performance-based pay? The use case will determine what integrations and native capabilities are most important and should be most robust within a compensation management tool.

  • Reporting: HR and Finance leaders alike need visibility into compensation management data. Flexible, presentation-ready reporting can be massively impactful for administrators and improve their own day-to-day visibility.

  • Standalone vs. Suite Solution: Consider whether the organization needs a standalone compensation management solution for handling compensation processes and data at scale. Many organizations at smaller scales or with less complicated compensation needs may find built-in capabilities in HCM suites that can fit their use case.


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Pricing Information

Most compensation management software plans are available from compensation specialists, or HR research and consulting firms. These compensation management services may combine a software platform with market intelligence or compensation research services. Vendors may provide software on subscription, for perpetual licensing, or for a single payment with (renewable) intelligence. Also, HR software vendors provide plans are add-ons to Core HR / HRMS suites. These are generally cloud-based and available on a subscription basis.


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Frequently Asked Questions

What is strategic compensation management?

Strategic compensation management entails the organization’s total plan for employee compensation, including traditional wages and salaries, as well as other benefits, incentives, and rewards. Compensation management software assists with many of the more advanced functions in strategic compensation management.

What does compensation management software do?

Compensation management software centralizes an organization’s compensation data and provides tools to plan, budget, approve, and report on compensation decisions.

What are the different types of compensation?

The primary types of compensation are hourly, salaries, commission, and bonuses, although there is a range of subtypes and variations for specific circumstances.

Who uses compensation management systems?

Compensation management software is most heavily used by managers and HR administrators, especially at organizations with more complicated compensation structures like bonuses or performance-based rewards.