15 Best Compensation Management Software
15 Best Compensation Management Software
Compensating your workers is important to motivate them. Compensation planning requires careful analysis of a variety of data. Each industry has its unique way of compensating workers. To figure out how to compensate and promote workers in your industry, you need compensation management software.
Compensation management software helps you plan and give compensations to your workers. From the dashboard, the software enables you to manage salaries and give reports on compensation information. From the software, you also can view compensation policies, plan bonuses and recommend changes in payments. You develop simple compensation strategies for your workers.
You can integrate a compensation management system to a performance management system to fuse data on employee performance into compensation decisions. Compensation management software must enable you to publish compensation policies and bonus structures. It also allows importing and exporting of compensation data for reporting. In this post, I will review some top compensation management software and its features.
List of Compensation Management Software
- Engagedly
Engagedly software contains features for onboarding, training your workers, reviewing performance, and managing goals. Its main focus is on teamwork and communication between team members. It has a reward feature that awards points to achievements. The points are then used awarded to workers. Workers are recognized for achieving their goals.
The system tracks goals and results to show a worker where they stand. As a manager, you get the information you need to make plans and decide on training your team. A survey is another thing. You can send surveys to workers and get their feedback. Your workers get ratings you can use to check their performance. You also get additional features for creating an online course. You can access the platform using a computer or a mobile device.
- BizMerlinHR
BizMerlinHR software is based in the cloud and is suitable for mid and large businesses. The software helps you manage employees’ life cycles from onboarding to tracking performance in one source. The platform automates operations and has advanced features that allow you to customize workflows.
You get tools for forming and uploading documents and training your workers. Performance reviews are individualized but for the entire team using your metrics. With this platform, you can track the level of skill in your workers to identify where training is needed in career development. It enables access on a mobile device making it flexible. You can integrate with other tools and support is via email, phone, and live chat.
- CaptivateIQ
CaptivateIQ software is for planning management and is suitable for all businesses. It helps you create, preview, and launch customized plans for calculating sales. In addition, you track the performance of workers and share earnings to settle payments. With this platform, you can apply your worker’s assumptions, manage special cases, use formulas in sums, and handle all changes in time.
Using metrics and performance indicators, you gain awareness of the latest trends in the market. Reporting is customized to show you details for employee compensations. The platform allows integration to other tools allowing sharing of data. Customer support is via email and online media while pricing is at your request.
- Branch
Branch software is created for companies that have multiple shifts. It tracks hourly work, assigns jobs, shows schedules, and plans shifts. All these operations are communicated to your workers. With the platform, you can also view the available workers to help you in work. The platform allows you to create digital calendars.
With their mobile app, your workers can track their daily schedules and shifts. Communication between team members is enabled and through the app, your workers get notified of changes and they can request offs. Additional features enable tracking of locations and processing wages. You can integrate Branch to other tools and support is via phone and email.
- Dayforce HCM
Dayforce HCM software has features for payroll and benefits management, workforce and talent management, and analyzing together with managing documents. The platform monitors a full employee cycle. It uses employee experience to hire the right talent, create supportive schedules, train workers, and process benefits and payments. This platform offers many features in one source eliminating the pain of disconnected tools. It also eliminates the need to duplicate data and manual workflows. With this software, you reduce the time your workers use in training and increase production.
- Xactly Incent
Xactly Incent software enables you to deal with challenges in commissions. It has features for tracking status, customizing workflows and reports, automating processes, and complies with regulations. With this platform, you generate schedules for commissions and make adjustments according to customer or employee status changes. From the dashboard, you get reports on the profits, compare accounts, and plan for the future. The software keeps you updated on commission data from reviews on a customer, product, contract, or audit evaluation. It allows integration to other tools and support is via phone and online measures.
- QCommission
QCommission software helps you calculate workers’ compensations and is suitable for small and midsize businesses. With this software, you calculate commissions based on the performance of workers. It has tools for the automatic calculation of partial and full commissions to reduce errors and make informed plans. It handles complex commissions like split commissions for many people and varying product commissions. The platform analyses sales data in charts and graphs and gives you reports. You can integrate QCommission into other tools.
- Employment Hero
Employment Hero platform helps you manage the entire lifecycle of employees. It has features for recruiting, onboarding, tracking time and attendance, reviewing performance, processing payrolls among others. Your workers get a self-service portal that they can use to request leaves, view schedules and payments, and update their personal information. The software is connected to a law firm to update your contracts and HR policies. Recruitment features enable you to create career pages, post jobs to job boards, create questions for candidates, and conduct background checks. It automates processes like onboarding and helps your workers stay compliant. Employees fill out timesheets that are used during the calculation of payments. You also get reports that help you understand company performance.
- Spiff
Spiff software is for managing compensations. It automates processes for calculating commission. It enables you to inform your team members about performance indicators and the goals they have achieved. You get features for tracking locations, recommending plans and you can export data. Moreover, you can assign tasks to workers and make changes in commissions. Spiff allows integration to other tools while support is provided via phone, email, and other online media.
- STRATWs ONE
STRATWs ONE software offers you tools for tracking performance and managing projects. It enables you to create plans, monitors due dates, and track the progress of projects. The platform measures workers’ performance and calculates compensation. To add, it also enables calculating project costs and states what the projects need. With this platform, you can schedule meetings with time, date and location, and invite many people to the tool. Support is given via live chat and phone and prices are given on request.
- UZIO
UZIO software has features for tracking time and attendance, processing payroll and benefits, and more. This software reduces the challenges you face in managing HR, payroll, and benefits. It reduces paperwork and has self-service portals for your workers. UZIO aims at automating tasks in administrating and processing payrolls to improve the experience of workers and hence productivity. You can integrate UZIO with other tools for calculating taxes.
- Performio
Performio software is for managing commissions and compensations. It allows you to evaluate and measure performance and use the sales data to make informed decisions. The platform automates commission calculation to simplify the process. From the dashboard, you can calculate commissions, view team members, and manage messages. Your workers can view their performance in their portals or update their information. Performio analyses sales data to give you customized reports on commission. You can use the software on a mobile device.
- Compease
Compease software is for managing salaries and is suitable for retail and manufacturing industries. This platform allows you to analyze, create and use a salary giving strategy that balances workers’ equality and competition from the market. The platform evaluates a position before assigning a graded salary. With the solution, you automatically create performance indicators that demonstrate the financial impact without affecting wages. From the dashboard, you can classify jobs, allocate resources and track the performance of the company. Reporting features give you the information you need to make better decisions.
- ChartHop
ChartHop software gives you a unified view of your organization, encourages you to use data in making decisions, and helps your workers better understand their role in the company. This platform analyses workforce data to show actions. ChartHop protects employee data and gives crucial insights to all workers in the organization. This platform enables integration with other tools.
- Oracle Cloud HCM
Oracle Cloud HCM software has inbuilt intelligence and machine learning. It is designed to support the entire employee lifecycle from recruitment to retirement. It has features for managing talent, recruiting, training, giving rewards, and managing the entire workforce. It also contains advanced features for managing health and safety incidents and strategic planning of your workforce.
Compensation Management Software
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Compensation Management Software
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Compensation Management Software
Compensation Management Software
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Compensation Management Software
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