Compensation Analysis and HR Software Solutions

Comprehensive compensation management and salary planning tools allows you to ensure that company compensation programs are aligned with business goals today and in the future. By combining compensation-specific tools with powerful analytics, these tools give you the power to evaluate data, plan strategies and execute compensation programs with the confidence that intelligence delivers

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Effective salary planning involves researching the average salary ranges for jobs in a given market. Knowing how the company’s salary schedule places within the industry is the key to creating a competitive compensation schedule that attracts and retains high quality employees.

Salary management is an important part of any company’s HR practices and there are software tools that make this easier, more fluid and ultimately more effective.
Any salary research and planning software platform should:

Manage costs with informed pay plan strategy decisions
Rapidly examine the impact of budget increases and market place changes
Deliver up-to-date results to line managers for hiring and compensation decisions
Model the impact of management and structure driven changes
Segment and model the employee population by geography, business unit, or level

Software for Developing Pay Structures

Software tools for developing pay structures allow you to research and examine how possible changes or additions to your company’s pay structure might impact other business planning endeavors. Software – such as ePRISM by Mercer – facilities the execution of effective salary planning and pay structures by allowing the end user to easily evaluate current and proposed structures and pay philosophies vs. pay practices and then make appropriate structure adjustments based on solid data.

Compensation management and analysis tools let you align compensation programs with business objectives. By combining compensation-specific tools with powerful analytics, such pay structure software programs permit you to evaluate data, plan strategies, and execute compensation programs with confidence.

Market Analysis

Any compensation management tool should streamline the process of market analysis by simplifying time consuming data management tasks such as: compiling global salary research data, survey participation, salary benchmarking, integrate easily with job evaluation results, be proactive with market pay strategies, and analyze all elements of compensation.

Additionally, these software tools should also provide exceptional reporting features such as instant and customizable report writing capabilities, the ability to print queries shown on the screen or offer integrated report wizards to generate presentation quality reports.

ePRISM by Mercer is an all in one compensation administration solution, providing all of the important key features necessary to effectively plan and maintain any company’s compensation structure.