Best Compensation Management Software - Page 3
Compensation management software helps organizations plan and administer employee compensation packages. Sometimes known as compensation planning or compensation solutions, the software manages salaries through an administrative dashboard or data visualization, develops merit matrices, and reports on company compensation data. Organizations use compensation management software to view and adjust compensation policies, plan employee bonuses and structure incentives, and recommend pay adjustments. HR departments most commonly implement compensation management systems, enabling managers to develop streamlined compensation strategies for their teams. That way, organizations can ensure equitable employee compensation and optimize salary budgets.
Compensation management software can be implemented either as a standalone solution or as part of an integrated HRMS & HCM software. Many compensation management systems integrate with performance management software to incorporate employee performance data into compensation decisions. Some compensation management products offered as part of a suite may include capabilities from sales compensation software.
While basic compensation management software focuses on budgeting and bonus structures, more robust systems also include salary benchmarking features that allow users to compare salary data across the industry and see where performers are being paid above or below certain salary bands. This may also include or integrate with pay equity software, allowing administrators to break down information by certain demographics and protected identities to ensure fair payment across an organization and mitigate legal risk from lack of compliance.
To qualify for inclusion in the Compensation Management category, a product must:
- Provide a centralized dashboard to visualize compensation data
- Enable users to publish internal compensation policies and facilitate diverse bonus structures
- Help users create comprehensive salary budgets
- Allow simple exporting and importing of compensation data for reporting purposes
Best Compensation Management Software At A Glance
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- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
Aeqium is a modern compensation management platform designed to simplify and streamline complex compensation planning for growing organizations. Built for HR and Finance teams, Aeqium replaces error-p
- Computer Software
- Information Technology and Services
- 48% Mid-Market
- 41% Enterprise
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
SimplyMerit® is an HR Compensation Management solution that engages leaders and empowers managers to optimize their merit budgets, annual bonus pools, and equity grants. We can have you LIVE IN FIV
- Biotechnology
- Computer Software
- 75% Mid-Market
- 25% Enterprise
92 Twitter followers
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
CandorIQ is the modern way to scale and manage your people spend. Through one easy, integrated platform, we automate and simplify headcount, pay strategy, and manage compensation for your workforce. D
- Computer Software
- 79% Mid-Market
- 21% Small-Business
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
As Europe's #1 compensation management platform, Ravio helps leading tech companies attract, retain, and motivate top talent. HR and Total Reward Leaders use Ravio’s real-time compensation benchmarki
- 80% Mid-Market
- 20% Small-Business
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
Helping employers create and communicate unbiased and objective pay plans that foster healthier, happier, and more collaborative employment relationships.
- Computer Software
- 80% Mid-Market
- 20% Small-Business
58 Twitter followers
- Overview
- User Satisfaction
- Seller Details
Oracle Workforce Rewards Cloud delivers the ability to create both straightforward or complex and highly differentiated pay programs while providing simplified decision-making and consistent messaging
- 68% Enterprise
- 8% Mid-Market
821,425 Twitter followers
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
Checkwriters is a payroll and HR services company focused on optimizing every step of the customer experience. From your interactions with our team to our genuinely useful software that's designed to
- Education Management
- Primary/Secondary Education
- 58% Small-Business
- 41% Mid-Market
2 Twitter followers
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
Compport is the ultimate end-to-end SaaS solution for managing all your compensation needs. From candidate offers to annual/adhoc salary reviews, bonus/incentive structures, and customized sales incen
- Pharmaceuticals
- Financial Services
- 70% Enterprise
- 26% Mid-Market
45 Twitter followers
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
CompXL is a type of compensation planning software solution designed to help organizations streamline and automate their entire compensation cycle. This innovative platform combines the familiar funct
- Computer Software
- Insurance
- 53% Mid-Market
- 45% Enterprise
1,129 Twitter followers
- Overview
- User Satisfaction
- Seller Details
Discover Infor CloudSuite HCM, a powerful set of cloud-based human capital management solutions built to adapt to your organization's evolving business strategy. This solution replaces complex process
- 52% Enterprise
- 22% Mid-Market
18,764 Twitter followers
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
BetterComp provides the industry's most powerful and easiest to use compensation benchmarking solution. Designed to help companies get through the arduous process of market pricing at scale, BetterCom
- 60% Enterprise
- 20% Small-Business
15 Twitter followers
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
Cornerstone Learning SBX is a global leader in next-generation cloud solutions for talent management. The company helps organizations transform the way they work by enabling the continuous learning, e
- Hospital & Health Care
- Information Technology and Services
- 68% Enterprise
- 23% Mid-Market
13,086 Twitter followers
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
The Compose® Suite is a dynamic, extensible, and configurable compensation, incentive, and analytics platform that will reflect your company’s values and how you value employees. Decusoft is dedicate
- Financial Services
- 54% Mid-Market
- 46% Enterprise
413 Twitter followers
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
beqom is a purpose-built compensation platform that intuitively gives employers the power to realize compensation’s full potential from end to end, every day. beqom helps the world's leading enterpris
- Financial Services
- 78% Enterprise
- 19% Mid-Market
6 Twitter followers
- Overview
- User Satisfaction
- Seller Details
Your business success depends on your ability to hire, manage, develop and retain top talent. At TalentQuest, we provide solutions that help you do that – manage the entire employee life cycle. From r
- 40% Enterprise
- 35% Small-Business
3,443 Twitter followers
