Compensation Planning

What is compensation planning?

Compensation planning is the process that an organization uses to make decisions about employee pay and rewards.

Compensation planning software has been around for a few decades, YET...even now in 2024, over 70% of organizations surveyed report that they leverage excel for compensation planning.

So why are compensation professionals abandoning the compensation modules that come with their HCM system and reverting to excel?

When forced to choose between agility and automation, they choose agility. They know they need to support the business even if it means embracing weeks of monotonous work like copying, pasting, and inspecting excel compensation planning workbooks for each compensation planning cycle. But it doesn’t have to be that way. One need not choose between agility and automation.

With CompAnalyst Comp Planning you can have all the flexiblity of a robust formula engine and all the workflow and reporting tools of software as a service.

Now you can attract top talent with innovative, rewarding compensation structures while reducing administrative complexities. Experience operational agility by streamlining compensation management, achieving up to 75% efficiency gains compared to manual processes. Our solution enhances accuracy, minimizes errors, and ensures continuity in compensation planning. Embrace future-ready models that blend contemporary and traditional methodologies, all underpinned by unified, secure data sources. Foster streamlined collaboration within your organization through a cohesive, comprehensive system.

Learn more by scheduling a 30-minute product demonstration.