Dayforce is a global human capital management (HCM) platform that transforms the employee experience. It unifies data from across the entire employee lifecycle to enable better decision-making at every level. Dayforce is a comprehensive cloud platform that combines HR, payroll, benefits, workforc...
Compensation Management Software
Best Compensation Management Software
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Compensation Management Software Overview
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.
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 compensation decisioning.
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
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
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.
Compensation Management Products
Listings (1-25 of 28)
Paycom is a core HR management software solution. It includes features such as talent acquisition and management, time tracking, and payroll management.
Xactly Incent Pro is a cloud-based, secure sales incentive compensation solution for enterprise-class businesses. Incent Pro replaces tedious, spreadsheet-based manual processes, making any incentive compensation program easy to manage and error free.
PayScale Insight Expert is a sales intelligence software solution offered by PayScale, Inc.
IBM Cognos Incentive Compensation Management (formerly Varicent) is a highly flexible and scalable sales ICM product. It is designed to increase operational efficiency, accuracy, and audiability by automating incentive calculations and providing online compensation statements and reporting for em...
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.
Achievers is a platform for managing employee rewards and recognition programs. It includes features for tracking employee performance against company or project goals, as well as tracking social recognition of employees for their achievements, and tracking available budget for employee incentive...
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.
Harvest HCM™ Compensation Management is designed to help companies move away from managing and updating a master spreadsheet to track compensation programs. This solution gives managers one place to log in and administer pay programs for their direct reports. Harvest HCM™ Compensation Management...
COMPview is a cloud-based compensation management solution. Some key features include: Automated Worksheets, Decision Support, and Budgeting and Planning.
CuroComp is a secure solution designed to maximize the business impact of compensation spend. The solution aligns performance and reward budget/spend to ensure the correct mix and level of compensation goes to those who contribute the most and are incentivized to do so within a demonstrably fair ...
talentComp is a very light weight compensation management offering for small businesses from CWS Software in New Jersey.
Compgun is a compensation management tool that is designed to be simple enough to be familiar to Excel users, while being powerful enough to handle any commission plan. The vendor says key differentiators include a solution that is quick to set up and easy to use. The vendor says it will configu...
eeCompensation from eeStrategy in San Francisco is a compensation modeling and management tool.
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 Vodafone. It addresses all Performance and Compe...
DeepTalent is an automated cloud-based performance management system that offers self, peer, and supervisor reviews, collects the data and surfaces it via an analytics interface. The platform aims to promote a culture of feedback that leads to a sustainable competitive advantage. Users enter or i...
CompensationXL, or CompXL for short, is an affordable compensation planning tool that combines the flexibility and ease of use of Excel with the convenience of the cloud. CompensationXL automates the interaction between the compensation team and planning managers during focal review cycles for me...
Compease is an employee compensation management tool for credit unions, from CU Solutions Group. The system includes market-driven salary data, compensation consulting expertise, and user friendly compensation administration software to align employee compensation plans with salary data specific ...
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.
SpiraLinks in Campbell offers FocalReview, the company's flagship compensation management application supporting HR teams with budgeting, review, analysis and compensation approval, with employee portal and payroll integration.
LaserBeam Software offers their flagship compensation management platform Compass Cloud, supporting HR teams with compensation analytics, budgeting and forecasting, and administration of merit pay, bonuses, promotions or adjustments, and other wage related changes and management.
Houston-based Dartican offers CompAccelerator, the company's flagship compensation management platform offering international capabilities and hourly, monthly or annual salary management, as well as localized budget pools.