Compensation Management Software

Compensation Management Software Systems

Compensation management software applications are the preferred method for salary structure, performance pay, and equity analyses. Given that all employees have rational engagement ties to compensation, compensation software solutions directly impact employee performance and organizational strategies. Segmented into compensation tools, manager self-service and incentive management, Compensation Management software is fragmented. While compensation systems can integrate with other HRIS, many organizations still keep these systems separate, and miss out on some valuable gains.

Compensation Management Systems

Compensation management software can handle regulatory compliance functions; organizational budgetary guidelines; incentive strategies; and Manager Self-Service (MSS) functions. And when done correctly, automating the compensation process through HR software reduces errors, allocates funds more effectively, and drives attraction and retention initiatives for top performers.

Featured Compensation Management Software Reviews

	Excentive Compensation Management Software Review
	Excentive's Compensation Management Software is a robust best-of-breed HR software solution that ties in nicely with performance and budgeting to provide well-rounded organizational insight into managing comp. Here we provide a quick review of this HR application to see if this could be the solution your organization needs to look further into.

Featured Compensation Management Articles

	Compensation Management Software's Most Strategic Benefits
	Selecting the right compensation management software is critical, but even more impactful on an organization's success is the understanding of the benefits that a compensation application is meant to achieve. Indeed, organizations should fully understand the most strategic and tangible benefits of compensation management software, and how to achieve them, and should do so prior to selection.

	5 Must-Have Features for Any Compensation Management Software System
	Compensation Management software can transform an organization's human capital management operations by increasing efficiency, driving employee performance, and consolidating disparate "total compensation" functions. However, the benefits received from this software are only as good as the functions the technology provides.

	Selecting the Right Compensation Management Software Solution
	Recent research indicates that an increasing number of organizations are finding their current compensation management software to be inadequate for current and/or future needs; and as such are considering replacement. Unfortunately, precious few of these companies understand the critical components that should be guiding their compensation management software selection process.

	How to Step Up Your Compensation Management Software & Strategy
	Too often, compensation management software systems are only evaluated by how well Pay-for-Performance (P4P) is delivered. Too few organizations seem to understand that P4P can only happen once the criteria of equity and market rates have been met. You can step up your compensation strategy and software effectiveness by expanding your criteria to include market and equity factors.

	4 Pivotal Implementation Issues for Compensation Management Software Systems
	Recent research from the payroll buyers guide highlights the fact that compensation management software system deployment is influenced by myriad factors such as organizational and economic climates. From potential employee reactions to strategic stakeholder alignment, compensation management software involves particular issues that must be addressed as part of the implementation project.

	The Quick Guide to Self-Service Compensation Management Software
	Automating the practical application of a total compensation strategy through compensation management software can relieve HR, payroll and managers of a complex administrative burden. By further engaging this compensation technology with self-service functions, an organization can ensure that the practical decision-making stays where it belongs – with the managers.