Best Compensation Management Software for Paylocity

FocalReview®, SpiraLinks flagship tool, allows you to manage your compensation planning and performance processes better. FocalReview® allows you to manage your stock, bonus, and salary plans in different time frames for different employee populations. It also supports multiple languages and currencies. Your HR teams can budget and recommend, analyze, and approve all phases of compensation. This is possible regardless of whether multiple management organizations are involved. Your business strategy can be tied to your compensation practices. Employee performance can be aligned with workforce rewards. FocalReview®, a role-based, highly configurable compensation management module, helps you balance merit, adjustments lump sums, promotions and bonuses. You can pay in multiple languages, currencies, or pay periods, including hourly, annually, and anywhere in between.

HiBob, a premier provider of HR solutions, offers a robust HCM named Bob to empower HR teams and streamline operations. From onboarding and performance management to employee engagement and automation, Bob equips HR leaders with the resources necessary to foster a positive workplace culture, drive employee development, and focus on strategic initiatives that propel organizational growth. HiBob’s platform, Bob, simplifies HR processes and ensures ease of use with customizable workflows tailored to different roles. It automates paperwork and seamlessly integrates with existing systems to save time and ensure data accuracy. The user-friendly approach empowers HR professionals to manage company-wide HR tasks effectively and efficiently. Bob Performance Management provides tools for goal setting, feedback, and performance reviews. Real-time tracking and data insights enable timely interventions, fostering a culture of accountability and continuous improvement and boosting employee engagement and retention. Bob’s employee engagement tools foster connection and collaboration among employees through channels for feedback, recognition, and communication, boosting morale and productivity.

PTO Exchange is a benefits platform that converts vacation hours into liquid assets that employees can use to fund their personal needs and support causes that they care about. This provides companies with a unique benefit that benefits every employee. It all works within the current system. Allow employees to contribute to their financial wellbeing and manage it. You can use any unutilized PTO for retirement accounts, student loans, health care expenses / HSAs. What if you could trade some of your unused PTO to pay off your vacation? It's now possible. Employees can donate to over 1,000,000 non-profit causes and organizations, as well as their colleagues in need. It is smart to reduce PTO liabilities and increase talent recruitment and retention. It pays both for Finance and HR. Both HR and Finance will be able to reap the benefits of enhancing PTO benefits, as well as reducing corporate liability.

ChartHop is the first platform for organizational management that empowers leaders and employees to see the past, present and future of their organization. The platform automatically creates fluid, data-driven views for a company via real-time updated organizational charts, custom reporting, headcount planning tools, and other data-driven features that increase efficiency and transparency among teams. Your team will have the information they need to do their job faster and better. To create data-informed strategies, one point of access to historical and current data is all you need. Analyze everything, from headcount by department to average pay by gender to turnover by performance rating. Powerful visualizations are available, including maps for remote teams, maps for org charts, and customizable reports. Visualizing data is your catalyst for change. Create the adaptable and agile organization that the market demands.

Real-time communication and planning of compensation is possible. Pave makes it easy to make better comp decisions and eliminate spreadsheets. It is powered by real-time integrations from your HRIS, ATS and Cap Table. Merit cycles can be a tedious process. Teams create compensation reports and have spreadsheets that are accessible to every manager. Pave centralizes compensation data to manage merit cycles in one place. Employees and candidates often overlook the entire picture regarding equity, bonuses, or benefits. Pave lets you visually present the entire dream to attract and retain top talent. Most surveys require periodic manual uploads, resulting in out-of-date compensation data. Pave integrates your systems in minutes and provides real-time benchmarking data for compensation. Surveys on compensation are outdated. Total rewards are more than just salary.

In decades past, offer letters have remained unchanged. This is the end of it. Your candidates will be able to access an interactive portal that teaches them about their total compensation, their team, and the company's values. Collaborate with a group to discuss your team's compensation philosophy and make real-time leveling decisions. Your employees shouldn't be able to guess their compensation value. Allow employees to fully understand their compensation, including equity grants, bonuses, and other benefits. To ensure alignment during critical merit planning meetings, model, revise, and share your real-time compensation plan with your team. Secure live data connections from your data, ATS and HRIS to update your candidate or employee pools as you need.

Global tech companies rely on Ravio to provide real-time benchmarking of total rewards, market trends and compensation management. Compare your compensation with live data on salary, equity, variable and variable pay, benefits, and more, sourced directly by global tech companies just like you. Connect your HR system and Ravio will map your employees' (or level frameworks) to the relevant Ravio standard. Adjust your benchmarks as you grow, to ensure apples-to apple comparisons. Compare the total compensation packages of your employees with live market data. To ensure relevance, you can filter by industry, headcount and funding stage. Salary bands and budget forecasting are easy to use and provide a way to balance people's goals and budget realities. By providing the "why" of every compensation decision, you can help managers, finance and talent acquisition teams to have informed conversations. Transparent salary bands eliminate the back and forth.