Compensation Review Software

We implement software to streamline the Compensation Review process

We implement software that will help enterprises to organize, administer and execute the Compensation Review process with ease.

What is Compensation Review?

It is a common practice for organizations of all sizes to review the level of compensation of their employees. The aim of the process is to take a look at the employee's performance and achievements in the last year, combine that with expectations about the future, and then set the new compensation level individually.

In large enterprises, the Compensation Review process is commonly driven by the Compensation & Benefits department in collaboration with the managers, HR, and executives.

Many companies are still stuck with old in-house systems, doing the reviews in spreadsheets or via emails - for them, Compensation & Benefits Management software can be a perfect solution to streamline the Compensation Review process.

95%Up to 95% reduction in spreadsheets used for compensation tracking and management with the use of Compensation & Benefits Management software.

Who can use Compensation & Benefits Management software for Compensation Review?

The compensation Review process can be defined as industry-agnostic because each company should be reviewing the level of compensation of their employees, and the branch in which it is operating makes no difference in this matter.

The compensation elements that are reviewed during the process vary from organization to organization. The rule of thumb is that, the larger the organization, the more compensation elements that need to be reviewed. Additionally, for some companies, industries, or countries it is mandatory to have a certain legal increase, stay within a certain pay range or budget.

While small companies might rely on spreadsheets or old, legacy systems for Compensation Review and, because of scale, do not see financial losses, or data and security issues clearly, in the case of large enterprises situation is different.

Work hours saved, mistakes avoided, and psychological comfort that follows add up, and for companies hiring hundreds or thousands of employees, it is essential to use solutions that can be fully trusted, such as Compensation & Benefits Management software.

Benefits of Comp&Ben Management software for Compensation Review

Comp&Ben Management software allows to streamline the Compensation Review process, cut costs and reduce errors. Especially the fatal ones, that could lead to unwanted data disclosure and serious issues.

Unified Compensation Review

A consistent, single platform for all departments and executives involved in the Compensation Review process.

Regulatory Compliance

The software meets a broad set of international, and industry-specific regulatory standards, which is especially important in the case of enterprises operating on multiple markets.

Central Platform

For merging all your Comp & Ben data into one source of truth.

Budget and Cost on the Watch

The software watches after the budgets consumption and carries out the policies as planned.

Comp & Ben Intelligence

There are reports and analyses that are available in one place, containing all the data and information that you need.

Scalability

With the software designed for the modern enterprise, scaling up to support the needs of the largest organizations is easy.

Flexibility

Comp&Ben Management software is agile and enables companies to quickly react to changes in the market and business requirements.

Stages of Compensation & Benefits Management software implementation for Compensation Review

Check the most common stages of a typical Comp&Ben Management software implementation process

01

Compensation Review process audit

We analyze how the Compensation Review process is carried out in the company and how it can be optimized, having in mind business legitimacy and expected returns. As an outcome, we create a process design documentation.

02

Design evaluation workshop with Client

We prepare estimation, the scope of work, and discuss audit conclusions with the customer team, to assure that the designed process will be compliant with company policy.

03

Development

We create a task backlog based on estimation and a detailed implementation plan. We implement the solution in cooperation with the customer team, assuring a high level of transparency and communicating frequently.

04

User Acceptance Testing and Production Rollout

We conduct acceptance tests in the client's environment and implement the necessary changes. When ready and accepted, we move the software into the production environment and train end-users.

05

Support handover

We support and improve the solution, our support team watches over the software and responds quickly to any customer's requests.

Compensation & Benefits Consulting Services

We know that Compensation & Benefits is a wide topic with a multitude of elements that impact the end result: the well-being, satisfaction, and performance of every company's greatest asset - the people.

GGS IT Consulting offers professional, end-to-end implementation of Compensation & Benefits Management software, from project initiation, through implementation, configuration, and development to support handover.

With our experience, we can help your enterprise to turn software into value.

See how our software helps in solving common challenges in the Compensation Review process.

Eligibility criteria

We know from experience that each enterprise might have an individual set of rules used to identify the population of employees eligible for the compensation review process.

With flexible software, we are able to create unique sets of rules on the fly, which determine if an employee should be included in the process at a given time. Covering such cases as a leave of absence (both paid and unpaid), cases of leavers and joiners, and - perhaps - employees that received a rise before a Compensation Review and should be excluded from the process.

The rules are flexible and can be changed by the C&B administrators to cover all the cases.

Various Hierarchies

With scale also the complexity of hierarchies grows. C&B software allows building multiple hierarchies, including employee-to-employee and organizational hierarchies, based on company structure and employees' assignment to specific departments.

Those hierarchies can be built in the Compensation & Benefits Management software with the use of data imported from other systems, or with manually entered data. We know how important is flexibility, as not all systems are able to deliver employees' data in a way needed for a hierarchical approach.

Supported matching data to the market & benchmarking, quartiles calculations, and merit matrix

Systems that we implement support advanced benchmarking with data per country and grade, departments, job family, job position, or other criteria, as well as quartiles calculations. With a proper salary classification, we can define a merit matrix that allows to appropriately allocate raises across the employee population.

The software allows also to calculate a compa ratio, which will be used to describe employees' position in the pay range against the pay policy reference point, and reposition it if it is too high or low.

Proposals and approvals

The software allows the creation of dedicated screens for managers, where they can view information about employees, submit proposals and proceed with approvals. As the access to employee data is based on the hierarchy we can enforce high-security levels and streamline approval flows.

Some enterprises may have complex requirements in terms of proposals validation. With advanced workflow configuration capabilities, we can address those complex requirements, and through multilevel approvals, we can guarantee compliance with company budget and local regulators' requirements.

Advanced reporting

On top of standard reports, such as budget utilization, gender pay gap, or salary distribution we deliver custom reports, matching customers' needs, such as specific templates or additional comparisons.

Payroll integration

After the Compensation Review process is completed we can export data to payroll software, as compensation management software connects seamlessly with leading systems.

Other integrations

The software also integrates with data warehouses, ERP, and HCM systems, which makes it easy to feed these systems with updated data.

FAQ

Here are some typical questions that you might have when it comes to the Compensation Review process and software.

Is Cloud solution good for Comp & Ben

Yes, it is. We have implemented many cloud solutions for all ranges of industries and company sizes and they appreciate this model. It removes the burden of maintaining all the infrastructure, hiring dedicated IT specialists, maintaining the servers and software up-to-date. In the cloud model, it is all included in the service. This is why this model is commonly called SaaS which means Software as a Service. You receive the service that you need.

I have a Human Capital Management System in place. Do I need the dedicated Comp & Ben Software?

There is no simple answer to this question. It all depends on your Comp & Ben needs. We often observe that the big HCMs and ERP systems don't allow C&B to do their process the way that they wanted. Comp & Ben often then end up with hundreds of excels, plugins, and manual adjustments that do not hold together very well. This is why we implement software that is more flexible than the HCM solutions but is far more robust than a random collection of workarounds that typically takes place.

We have a data warehouse and reporting (BI) solution in our Company. How does the Comp & Ben software fit in?

The C&B software fits perfectly well :). If you are happy with the services provided by the data warehouse and the analysis and reporting that you are able to get from there - then we are able to feed the data warehouse with the C&B data for your business intelligence and reporting needs. However, if you are not satisfied with what already exists - the C&B software will give you the proper self-service reporting solution that you can use directly in the tool.

Will the software satisfy my stakeholders?

C&B has multiple stakeholders in many places of the organization. From top executives and management boards to middle-level management and employees, everybody expects the processes will run smoothly. Let's face it - it is not easy to satisfy everyone at any given time. But you can make your processes run smoother, with way less stress, no critical incidents and you can be prepared to answer all the questions thanks to having the data in one place. With a little bit of managed expectations on the stakeholders' side, they will appreciate the value and peace of mind that they receive.

How much does the solution cost?

In IT there are two popular pricing models. The cloud solutions are typically priced per payee, that is a license fee for each person that is a subject of a C&B process in the system, plus the implementation fee, which depends on the scale of the solution. For the solutions deployed on-premise - the costs are the license fees plus the hardware plus the maintenance and implementation. The total cost will also depend on the complexity of the processes.

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Our consultant will suggest how to verify if Compensation & Benefits Management software is the right solution for your company.

Mateusz Tajak
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