Best Compensation Management Software

Compensation management software helps organizations plan and administer employee compensation packages. Compensation management systems are used to manage salaries through an administrative dashboard, develop merit matrices, and report on company compensation data. Organizations use compensation management software to view and adjust compensation policies, plan employee bonuses, and recommend pay adjustments. Compensation management systems are most commonly implemented by HR departments, enabling managers to develop streamlined compensation strategies for their teams. With compensation management software, organizations can ensure equitable employee compensation and optimize salary budgets. Compensation management software can be implemented either as a standalone solution or as part of an integrated HR management suite. Many compensation management systems integrate with performance management software to incorporate employee performance data into compensation decisions. Some compensation management products offered as part of a suite may also include sales compensation capabilities.

To qualify for inclusion in the Compensation Management category, a product must:

  • Provide a centralized dashboard to visualize compensation data
  • Enable users to publish internal compensation policies and facilitate diverse bonus structures
  • Help users create comprehensive salary budgets
  • Allow simple exporting and importing of compensation data for reporting purposes

Compensation Management Software Grid® Overview

The best Compensation Management Software products are determined by customer satisfaction (based on user reviews) and scale (based on market share, vendor size, and social impact) and placed into four categories on the Grid®:
  • Products in the Leader quadrant are rated highly by G2 Crowd users and have substantial Market Presence scores. Leaders include: UltiPro, Workday HCM, PayScale, and Paycom
  • High Performers are highly rated by their users, but have not yet achieved the market share and scale of the Leaders. High Performers include: CompensationXL, Payfactors, and PayScale MarketPay
  • Contenders have significant Market Presence and resources, but have received below average user Satisfaction ratings or have not yet received a sufficient number of reviews to validate the solution. Contenders include: Cornerstone OnDemand, SuccessFactors, PeopleSoft, and Oracle HCM Cloud
  • Niche solutions do not have the Market Presence of the Leaders. They may have been rated positively on customer Satisfaction, but have not yet received enough reviews to validate them. Niche products include: beqom and Certent Equity Compensation Management
G2 Crowd Grid® for Compensation Management
Leaders
High Performers
Contenders
Niche
Cornerstone ondemand
Beqom
Successfactors
Ultipro
Workday hcm
Peoplesoft
Payscale
Certent equity compensation management
Paycom
Oracle hcm cloud
Compensationxl
Payfactors
Payscale marketpay
Market Presence
Satisfaction
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