Compensation Management Software Resources
Articles, Glossary Terms, Discussions, and Reports to expand your knowledge on Compensation Management Software
Resource pages are designed to give you a cross-section of information we have on specific categories. You'll find articles from our experts, feature definitions, discussions from users like you, and reports from industry data.
Compensation Management Software Articles
How to Build a Profit Sharing Strategy for a Thriving Business
One of the most significant motivators for employees is often—if not always—money.
by Mara Calvello
How to Award Your Team Merit Pay for Their Hard Work
It’s always nice to be rewarded for hard work.
by Mara Calvello
How to Build a Competitive Compensation and Benefits Plan
When it comes to attracting top talent and recruiting the best possible candidates to work at your company, how do you make coming to work for you stand out from the rest?
by Mara Calvello
Compensation Management Software Glossary Terms
Compensation Management Software Discussions
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Question on: SimplyMerit
How does SimplyMerit handle additional currencies for a global workforce?SimplyMerit supports 146 currencies with simple and direct multi-currency management. Automatic roll-ups convert to the company’s base currency, allowing for planning in local currency at the employee-level.
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Question on: SimplyMerit
What are signs you’ve outgrown Excel for the compensation process?Answer: If you’ve experienced three or more of the following:
• Excessive time compiling and recompiling data
• Complex budget modeling and proration logic
• Formula errors or missing data
• Security concerns with emailing salary information
• Multiple versions of spreadsheets (version control)
• Need access to current information
• No time for analysis
• Require auditability to aid compliance
• Mid-cycle changes occurring for employees
• Excessive time to create and distribute adjustment letters
• Multi-currency challenges
• Part-time and full-time employees
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Question on: Payfactors
Does it include more than just salary?Yes, there are tools for assessing equity as well. They also have a Total Rewards Statement. This is a new tool that we don't utilize but based on the release notes, it seems as though it can offer more than just salary using the UDFs.
No matter the task you’re completing, Payfactors puts you back in control to think more strategically about compensation at your company.
We help you price your jobs by giving you the best salary and hourly wage data out there. But we also help you leverage and store your survey library and internal data, create and manage salary structures, develop pay reports, and so much more. Because doing compensation right doesn’t just mean determining the appropriate salary.
Plus, our Job Description Manager tool helps you create, manage, and store your job descriptions. Because you can’t correctly price a job if it doesn’t have an accurate job description, right?
Compensation Management Software Reports
Mid-Market Grid® Report for Compensation Management
Winter 2025
G2 Report: Grid® Report
Grid® Report for Compensation Management
Winter 2025
G2 Report: Grid® Report
Enterprise Grid® Report for Compensation Management
Winter 2025
G2 Report: Grid® Report
Momentum Grid® Report for Compensation Management
Winter 2025
G2 Report: Momentum Grid® Report
Small-Business Grid® Report for Compensation Management
Winter 2025
G2 Report: Grid® Report
Enterprise Grid® Report for Compensation Management
Fall 2024
G2 Report: Grid® Report
Small-Business Grid® Report for Compensation Management
Fall 2024
G2 Report: Grid® Report
Mid-Market Grid® Report for Compensation Management
Fall 2024
G2 Report: Grid® Report
Grid® Report for Compensation Management
Fall 2024
G2 Report: Grid® Report
Momentum Grid® Report for Compensation Management
Fall 2024
G2 Report: Momentum Grid® Report