Best Compensation Management Software
Best compensation management software includes Qandle, HRMantra, Keka, Zoho Payroll, and PayScale. These compensation management software helps executives, hiring managers, recruiters, and HR staff with information about the available budget for employee salaries and industry compensation rates for similar positions.
Connect With Your Personal Advisor
List of 20 Best Compensation Management Software
Category Champions | 2023
Manage and engage your workforce wherever they are
Sage HR is fast-becoming 1 HRIS software in staff leave and employee database management. By reducing the overhead time and money spent on paper chasing employees' leave requests, Sage HR helps you to solve your HR challenges and let’s you to focus on building your business! Read Sage HR Reviews
Starting Price: Starting Price: $5 Per Employee
Recent Review
"Well Rounded, packed with features." - Shoaib Shabbir
Category Champions | 2023
Keka is an Human Resource (HR) information system. The only HR & Payroll software that is employee centric. Unlike traditional HRMS solutions, we are a modern new generation platform focused on user experience and simplifying complex workflows. Read Keka HR Reviews
Starting Price: Starting Price: $97.21 Upto 100 Employees
Recent Review
"Easy way for tracking " - Minaxi Suthar
| Pros | Cons |
|---|---|
|
Easy for applying leave and plus setting up the task and OKRs. |
Not any so far. |
|
I guess Keka as Software itself is very useful. |
I didn't find such thing yet. |
Contenders | 2023
Gusto is the employee onboarding platform, offering payroll, benefits, HR tools, and world-class support for small businesses. With Gusto, it’s easy to take care of your team and grow your business all in one place. Read Gusto Reviews
Starting Price: Starting Price: $40 Per Month
Recent Review
"Review for Gusto" - Junaid Ahmad
| Pros | Cons |
|---|---|
|
It was dependable, never experienced any problems with payment receipt, and funds were deposited directly into my checking account without any additional costs or expenses. |
It sounds like you had a negative experience with the software, specifically regarding its difficulty of use, lack of effective support, and issues with payment processing. It appears that the support staff were unable to resolve the issue, despite it being described as a major software bug. It also seems that a validation process was causing issues with payment processing. |
|
Ease of set up |
Customer service - live support from the tax compliance department |
Category Champions | 2023
.png){kind=logo}
All your accounting needs will be taken care by this ERP accounting software. Filling GST, releasing salaries of your employees, keeping a track of leave and bonus and various other finance-related tasks can be performed with no-error. You can go for a free ERP software demo for a thorough understanding of its modules. Read TallyPrime Reviews
Starting Price: Available on Request
Recent Review
"Very best softare in my view but some measure have to be taken in order make it perfect ." - Arpit mishra
| Pros | Cons |
|---|---|
|
It's simple to operate on Tally and it's effective on daily basis use. |
my experience of over two years, I didn't dislike anything. |
|
It helps you manage accounting & payroll. |
It is Not User-Friendly. |
Category Champions | 2023
.jpg){kind=logo}
HRMantra is the World's most feature rich HR and Payroll software helping automate the most complicated of hire to retire HR processes easily using its CRORES of ready to use features. It saves 30 min per emp per day giving over 10 times ROI. 100% project success assured. Read HRMantra Reviews
Starting Price: Available on Request
Recent Review
"Saves time and increase productivity" - Senorita Gonsalves
| Pros | Cons |
|---|---|
|
You can easily navigate from one tab to another. Real time GPS tracking. |
Mobile application of HRMantra needs a little bit of improvement rest is fine. |
|
Software is totally customizable |
Attendance |
Category Champions | 2023
By implementing GreytHR, the leading online system, you can have a thorough insight of the employees’ activity within your form. The viability of the cloud payroll software further gets intensified by manifolds as this payroll manager performs all the tasks in less time and no errors. Read greytHR Reviews
Starting Price: Available on Request
Recent Review
"Good Handy Software for my company" - Amrutha Rao
| Pros | Cons |
|---|---|
|
Easy to use, user friendly and all time avaible, layouts are good, handy |
Mobile app cant be added, nothing more to say, it looks pretty cool, probably i ll think |
|
Leave workflow, attendance tracking, regularisation, analytics and the mobile app. |
Occassionally seeing some minor issues in mobile app - maybe due to our bandwidth also. The new UI is good and please do add more self service tasks in the app |
Contenders | 2023
.png){kind=logo}
We couldn't find an HR solution that all stakeholders (employees, leaders, and HR) loved. So, we created one. Qandle - End-to-end HR solution that is smart, beautiful, and completely configurable, with a fully functional mobile app. Free Demo and Trials available. Read Qandle Reviews
Starting Price: Starting Price: $0.68 Employee/Month
Recent Review
"amazing to use" - chander jain
| Pros | Cons |
|---|---|
|
This one sends me notifications about my attendance whenever I forgot to clock out and each. |
Compensation. And expenses management. |
Category Champions | 2023
India’s Most Popular HR & Payroll Software
HROne is owned by Uneecops group, a 60+ Million fast-growing conglomerate with 09+ offices pan India employing 700+ smart professionals. It is a veteran business automation and services provider with 20+ years of profound experience. Read HROne - Complete HR Software Reviews
Starting Price: Available on Request
Recent Review
"HROne- The best HCM Suite" - Tarulika Jain
| Pros | Cons |
|---|---|
|
1. payroll |
engagement |
|
Attendance management and salary slip |
need to log in every time |
Category Champions | 2023
We are a focussed time management software solution provider for corporate. We offer end to end HR solution from recruitment to retirement covering entire employee life cycle in an organisation. Our solution can be delivered as a product that can be used by the customer at his location. Best for large, medium & small business HR software Read Wallet HR Reviews
Starting Price: Available on Request
Recent Review
"easy accessibility and user friendly" - Aishwariya
| Pros | Cons |
|---|---|
|
Easy access of all modules |
no |
|
Able to get daily reports |
Need to be shorten the module |
Category Champions | 2023
Payroll crafted for building a better workplace
Zoho Payroll offers cloud-based payroll services for managing payroll solutions such as employee onboarding, payroll processing, employee self-service portal and adheres to statutory compliance. Try Zoho Payroll with our 30-day free trial. Read Zoho Payroll Reviews
Starting Price: Starting Price: $0.69 Employee/Month
Recent Review
"Well organised Payroll Processing" - Gopalakrishnan A V
| Pros | Cons |
|---|---|
|
Monthly computation with flexibility add/deduction of one time, flexibility of tax deduction, documentation & proof of approval of proof of investments |
Batch wise payrun to identify billable or non billable customewise/projectwise |
|
Easy to use, understand and implement. Very intuitive and uncluttered which makes user confident enough. Regular and timely product updates. Very precise product and training manuals. |
Can not be much customized in comparison to other Zoho Products. Calculation of yearly bonus as per payment of Bonus Act is not available. Multi level approvals not available. |
Category Champions | 2023
Centralize your HR process across your multi-branch organization. Timelabs is the preferred next generation Web Based comprehensive HR Management System for SOHO, SME & Enterprise to centralize attendance, leave & payroll over the web. Read Timelabs Professional Reviews
Starting Price: Starting Price: $0.35 User/Month
| Pros | Cons |
|---|---|
|
Nothing |
Nothing |
|
Mobile App, Support |
Found nothing |
Category Champions | 2023
Online Human Resources Information System (HRIS) and the best employee onboarding software that makes time for the work you were meant to do. But change can be hard. BambooHR guarantees your success when changing from spreadsheets to our intuitive online HR software. Read BambooHR Reviews
Starting Price: Available on Request
Recent Review
"Bamboo Hr" - Ismael gallego
| Pros | Cons |
|---|---|
|
user friendly powerful |
none |
|
It has a very robust time tracking feature. You can differentiate between sick leave, vacation, COVID, mental health, sabbatical or many others. Probably identified by your organization to start with. |
My boss, who is very relaxed, and I both missed filling out a quarterly goals worksheet on time. We did it, just in person and not on Bamboo. Bamboo still requires you to fill out the form online, even after the next quarter's goals are due. There should be a way to sort of 'dismiss' assignments, even if that comes from 'above'. |
Contenders | 2023
Cornerstone Performance organizations finally have the performance management technology that enables managers to benchmark employee performance and align employee activities with organizational strategy while still providing continuous, meaningful feedback. Read Cornerstone Performance Reviews
Starting Price: Available on Request
Recent Review
"No need to install and maintain" - Greg Gore
Contenders | 2023
Ultimate provides cloud base all the strategic HR functionality in one solution. This delivers most flexible, functional payroll engine. Can track all of the employee personal info, benefits information, performance management and more. Read UltiPro Reviews
Starting Price: Available on Request
Recent Review
"Highly customized software" - Sakshi Jain
| Pros | Cons |
|---|---|
|
The software is your best bet when you need to alter your operations as per the need for different projects or clients. It can be customized easily and make you able to perform all your operations with much of hassle. |
Well, after more than two years of usage also, we are unable to find its cons. |
|
I am a Front-desk Executive and using this BI software for filing all the details that our company has. The fully-automation has reduced my efforts up to a major extent. Plus, the cloud- storage and web-based usage give me an advanced access to the data. |
I am happy with its assistance. |
Contenders | 2023
PeopleFluent is total workforce HCM technology company. more time they spend with candidates, the faster positions get filled. It is a recruiting delivery strategy, helping successfully achieve talent aspirations. Read PeopleFluent Reviews
Starting Price: Available on Request
Recent Review
"Tracks the whole process" - Giancarlo Colmenares
Category Champions | 2023
workday Professional Service Automation System is a cloud-based software that gives resource management, portfolio manage and project leader, and secure data & financial data. It is to manage fully workforce automation lifecycle in a system and an easy links unstaffed job opening requisitions for external fulfillment in the software. Read Workday Reviews
Starting Price: Available on Request
Recent Review
"Best of for small business and departments" - Abu Zar
| Pros | Cons |
|---|---|
|
One click searching system. |
I found everything good in my knowledge. |
|
Workday is easy to use and I did not require any help in setting up my profile |
I did not really find any significant problems in using the system, however would prefer better customer care. |
Emptrack is a user-friendly and easy to configure HR Platform covering the entire employee life cycle. It provides real-time visibility of data for quick decision-making and has a dedicated support desk to answer any queries. Read Empxtrack Reviews
Starting Price: Available on Request
Recent Review
"Complete HR Solution" - Mutulraj Rahane
Contenders | 2023
TalentSoft is cloud-based solution for talent management App. Trusted by more than 1500 customers and 8 million users in 100 countries. Supports 25 languages. It is characterizing the eventual fate of HR. Having dedicated team for enhancing cooperation between HR, directors, and workers with the sharpest, most natural and most adaptable Talent Management solution. Read Talentsoft Reviews
Starting Price: Available on Request
Recent Review
"Nice" - Mehek
| Pros | Cons |
|---|---|
|
Customer friendly |
Technical support |
Emergents | 2023
ELMO is the leading employee onboarding platform to provide Talent management, Workforce investigation and effective tools to consistently manage recruiting, onboarding, learning, performance management, progression and HR Core. Read ELMO Cloud HR & Payroll Reviews
Starting Price: Available on Request
| Pros | Cons |
|---|---|
|
Good marketing and sales pitch however it stops there. |
Very poor service delivery. They do not implement what they show you during sales. Teams at ELMO operate in silos. HR is implemented by a different team to Payroll. No project oversight by ELMO, client has to push to get results. Cost high to what you end up getting. System is clunky and still under development. Far from being perfect. |
This software provides you with quick and painless payroll management. It manages all the employee payroll information automates auditing payroll before final submission using this you can print and distribute paychecks. Read BOSS HR Reviews
Starting Price: Available on Request
Recent Review
"Easy to use and handle operation" - Ankit
Until 31st Mar 2023
Table of Contents
What is Compensation Management Software?
The compensation management software helps organization guide, control and simplify the organizational plans and administer employee’s compensation packages. With the easy administrative dashboards, it helps to manage salaries, appraisals, report metric matrices and generates reports on a company’s compensation data. With all the available data in records, the software is also helpful in view and adjusting compensation policies, plan employee bonus and appraisals, and recommend pay adjustments. Compensation management software is usually taken care of by the HR department of the organization and is implemented keeping in view to streamline the compensation strategies by Managers. With compensation management software implemented, the organization can ensure smooth and equitable employee compensation and can also have an optimized method of salary budgets. Compensation Management Software is usually implemented as a part of integrated Enterprise HR Software. But it can also be implemented as a standalone application. Usually, it is implemented with performance management software as the compensation is an overall result of the performance of the employee and the company’s overall budget.
The Compensation is used for the following purpose:
- Recruitment of the new employees
- To retain the high performing employees
- Reward and encourage the high performing employees
- For internal and external equity in the organization
- Reduce turnover and encourage employee loyalty as well as company loyalty
- Modify practices of employee unions
What are the Four Types of Compensation?
- Base Salary Compensation: The base salary compensation involves a certain increase in the percentage of the base salary. The base salary is defined as a worker’s basic salary or the fixed salary been paid every month. A certain increment is made in a fixed salary depending on the employee’s overall performance. The increased percentage varies from company to company.
- Salary + Commissions: In Salary plus commission model of compensation, the employee receives a commission on conversions besides the base salary. An employee who receives a commission is usually the one working in marketing or the sales department. The sales employee receives a commission is an add-on to the base salary. The commission is either a fixed amount or decided on the basis of per conversion. In most of the organizations, the commission is usually decided as per the company budget. The benefit to the employee is, that they receive the base salary even when the sales are low for a month.
- Profit Sharing / Bonus: Profit Sharing/Bonus is one of the most preferred compensation program used by the small organizations or startups, though, they are not confined and also used by few big companies. Under this, the employees are compensated solely on the basis of profits made by the business throughout the year. The companies instead of offering equity/stock to its employee offer the bonus or additional amount from the profits earned by the organization. The companies looking for long-term retention of the employees and to build loyalty also offers equity/shares to the employees based on the performance.
- Travel/Meal/Housing Allowance: Travelling/Meal/Housing Allowance offers benefits to the employees in terms of boosting their morale and interest to work and also save their money on certain regular investments. Companies offer these perks as additional benefits alongside the job to take care of employees’ basic needs and hence are a form of compensation. The companies usually take care of employee’s hotels, airlines and local transport while traveling, which have its own perks.
Benefits of Compensation Management Software
Compensation Management Software works as a collaboration software for the worker's compensation software, incentive compensation management software and sales compensation software. Ensuring the effective usage of compensation management software involves taking care that employees are paid the right amount, every time. Compensation Management Software cuts down the hurdle of manually recording the data of hierarchical division separately and records all the data at one platform. Earlier, the files system was replaced by excel and spreadsheets to track compensation records. But the system was inefficient because of the insecurity and bulky search process to find the details. Compensation Management software came up with multiple benefits:
- Compensation Management Software eliminated the need for manual recordkeeping of the data.
- It increased accuracy and efficiency with inbuilt time tracking and calculation individual employee compensation. It saves the time by calculating each employee data at one place and can be accessed by the multiple admins with secure access.
- As the system is advanced, each of the compensation management software can be made password protected as hence is secured. It also helps keep the employee details safe and lessen the risk of confidential information to be accessed by any unauthorized body.
- The systematic and on-record compensation process not only helps the organization but also increase employees’ satisfaction. It helps improve transparency between the management and the employee and eliminated confusions and doubts about current and past compensations.
The Functionality of Compensation Management Software
- Automation of the Process: Compensation Management Software helps automate the compensation process and record employee performance at one place. Hence, making the information accessible for the management and HR for fair decisions
- Budget Control: The budget can be recorded in the system before taking decisions on the compensation or the rewards of the employees and hence can be made sure to not exceed the allotted budget. It helps compensations allocations to stay in the pre-determined budgets. and development goals – in fact, employee compensation systems are a sure shot way to reduce paperwork and save precious time and money for the organization. Compensation software drives operational efficiency by keeping data available at hand easily, and compensation management tools are a useful asset to keep the flow of two-way information strong in an organization.
- Bonus Calculations: Compensation management solutions facilitate seamless workflowThe compensation management software records and create the metrics of the employee performance, the department’s overall performance and company at large. Based on this the bonus for the employee is decided.
- Compensation Assessment: The compensation management software records and analyzes the employee data, such as leads generated, conversions made, goals achieved, guidelines followed, etc. Based on the result the compensation for each employee is decided.
With all the above available features, it is preferable to integrate your human resource management (Payslip Software) information system with compensation management software to ensure authenticated performance judgments and maintain company budget.