Calming the Compensation Storm

Compensation Planning

Access Salary Data

Keep the good, ditch the bad that comes with Excel™. CompXL harmoniously blends the versatility of spreadsheets with the efficiency of SaaS workflow. Facilitate the administration of merit raises, bonuses, commissions, long-term incentive awards, equity, and employee total rewards statements across an entire organization.

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Benefits of CompXL

  • Retain & Recruit Top Talent: Align and communicate total rewards to retain and recruit top talent.
  • Mitigate Errors:Prevent errors and enhance accuracy in your compensation planning.
  • Increased Efficiency: Eliminate tedious manual tasks and fast-track compensation planning.
  • Keep Your Formulas: Skip the process overhaul and support your existing formulas with complete Excel™ compatibility.
  • Centralize Planning: Manage all your compensation plans in one solution, including bonus and equity.
  • Streamline Collaboration: Enable teamwork within a single, comprehensive system.
  • Enhance Reporting: Utilize push-button reporting and analytics for effortless access and sharing.
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What We Do Better

  • Tailor Our Approach: Our white-glove service team is dedicated to listening and adapting, rather than forcing changes. We don’t superimpose a methodology on you, but rather align our solutions with your unique processes.
  • Incentivize Without Compromise: Handle even the most complex incentive programs, organization wide.
  • Support Multiple Currencies: Plan in 96+ native currencies while working within a budget currency.
  • Leverage Multi-Factor Bonuses: Link the metrics that define your business success to your talent incentives.
  • Customize Total Rewards Statements: Close the pay perception gap with Total Rewards Statements that make the invisible, visible.

CompXL Solutions

Fill the gaps in your compensation tech stack with only what you need

MERIT
planning software
BONUS
Incentive Compensation Software
EQUITY
Long-term Rewards Software
REWARD
Total Rewards Statement
We can help achieve your business outcomes. Find out how.
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Merit Planning

  • Comprehensive Merit Planning: Integrate your payroll or core HR system with a full spectrum of merit planning capabilities, tailored for flexible and effective performance-based compensation management.
  • Operational Efficiency: Eliminate the manual labor associated with spreadsheets like copying, pasting, emailing, and inspecting workbooks with a single standardized system that allows collaboration without the risk of manual entry errors.
  • Time-Saving Dynamics: Reduce the duration of focal planning cycles by 75% while fostering more informed and strategic compensation decisions within budget constraints.
  • Automated Workflow: Customize and control your approval paths with ease. The system's versatility allows for loading and integration of report structures from various sources, including payroll, HR, ERP, HCM systems, or even Data Warehouses, ensuring a smooth workflow adapted to your organizational needs.
  • Administrative Control: Prepare your organization for any scenario, whether it’s restructuring, mergers, mass hiring, or workforce reductions. This system offers the flexibility to fully reload, update, or reorganize foundational data, providing unparalleled control over your compensation planning in the face of change.
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Schedule a Demo

Incentive Compensation

  • All-in-One Management: Manage your compensation, bonus, and equity plans in one place. Standardize performance and proration formulas, data validation, and eligibility rules to eliminate administrative maintenance.
  • Flexible Planning Tools: Empower your compensation strategy with diverse planning tools, including pool-based budgets, manager discretion, and position-based proration. Import and utilize key business metrics to ensure that bonus allocations are both fair and reflective of individual contributions.
  • Multi-Factor Bonus Calculation: Tailor bonus calculations to fit any industry, organizational size, or performance metric with flexible data import and storage capabilities.
  • Pro-Ration Management: Update compensation calculations automatically when employees transition between positions within the organization.
  • Targeted Incentive Compensation: Design and customize incentive schemes, such as short-term incentives, long-term incentives, and spot awards, tailored to specific departments, divisions, or units, aligning incentives with organizational goals.

Long-Term Awards

  • Award Planning: Elevate your long-term compensation strategies with a system designed to recommend and approve long-term awards. Align awards with organizational goals and employee performance, fostering a culture of recognition and long-term commitment.
  • Tracking System: Ensure meticulous tracking of long-term award values, with detailed holding reports and vesting schedules. Provide clear visibility and management of long-term incentives, enhancing transparency and trust.
  • Employee Portal: Offer your employees a user-friendly portal to view their long-term award statements, sign grant agreements, and access important documentation. Empower employees with information and a sense of ownership over their long-term incentives.
Schedule a Demo
Schedule a Demo

Total Reward Statements

  • Benefit Visualization: Craft comprehensive and visually appealing statements that encapsulate the full spectrum of each employee's benefits. Recognize your employees’ contributions and vividly illustrate the total value they receive, enhancing their understanding and appreciation of the company's investment in their well-being.
  • Reward Communication: Implement a proactive communication strategy that engages employees through timely emails, both before and during the distribution of reward statements.
  • Employee Education: Go beyond mere notification by educating employees on the full extent of their value proposition. Include detailed explanations of various components like cash compensation, health insurance, and both short and long-term incentives.
  • Engagement and Participation Analytics: Monitor and analyze how employees interact with their statements, tracking views and engagement. This insight allows for the visualization of compensation roll-up and program participation, offering a window into the effectiveness of your communication and the perceived value of the compensation packages.

Organizations Getting It Right

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Discover the full potential of our solution. Book a demo call today to explore its wide-ranging capabilities, including:
  • How to create salary structures
  • How to conduct pay equity audits
  • How to design incentive programs
  • How to price jobs using our market data
  • How to simplify compensation management
... and much more!
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Discover the full potential of our solution. Book a demo call today to explore its wide-ranging capabilities, including:
  • How to create salary structures
  • How to conduct pay equity audits
  • How to design incentive programs
  • How to price jobs using our market data
  • How to simplify compensation management
... and much more!

By clicking this button, you consent to receiving communications from Salary.com about our products and services. In doing so, you also consent to our Terms of Use and Privacy Policy. You can unsubscribe via email at any time or by visiting our preference center.

Insights You Need to Get It Right

The latest research, expert advice, and compensation best practices all in one place.

guide

G2 Leader in Compensation Management Report

G2 Leader in Compensation Management Report

white paper

Why Excel is Not the Answer for Compensation Analytics

Why Excel is Not the Answer for Compensation Analytics

guide

Example Total Rewards Statement

Example Total Rewards Statement

blog

Designing a Comprehensive Compensation Plan

Designing a Comprehensive Compensation Plan
See More Resources

Frequently Asked Questions

What Is a Compensation Plan?

A compensation plan includes a company's set of guidelines for delivering employees' base pay, bonuses, and equity. A well-designed compensation plan may also provide a strategy for future company goals around employee compensation. A compensation plan is a key element of your overall HR and recruitment strategy. It is also key in attracting and retaining top talent.

What Is an Example of a Compensation Plan?

Base salary.

Commission structure tied to sales performance.

Bonuses for exceeding targets.

Benefits like health insurance, retirement contributions, and professional development opportunities.

Offer performance incentives.

What Does a Good Compensation Plan Include?

A good compensation plan includes a clear salary structure, competitive pay aligned with market rates, performance-based incentives, benefits packages, and opportunities for career growth. It should also address pay equity, internal fairness, and compliance with legal requirements while offering flexibility to adapt to business and employee needs.

What Is the Compensation Planning Process?

A thorough compensation planning process will involve:

  • Doing a job architecture and analysis.
  • Benchmarking salary data and market pricing.
  • Employee performance evaluation.
  • Developing a compensation strategy.
  • Communicating the plan with employees within the organization.
  • Monitoring and adjusting the plan.

How to Develop a Compensation Plan?

Start by determining your compensation philosophy.

Outline the job architecture by defining roles and levels at your company.

Create guidelines for employee performance evaluations.

Define direct compensation (salary, bonus, and equity).

Define indirect compensation like benefits.

Consider internal and external pay equity.

How to Design a Successful Compensation Planning Strategy?

To design a successful compensation planning strategy, start by aligning it with your organization's goals and budget. Conduct market research to ensure competitive pay, define clear salary structures, and integrate pay-for-performance elements. Utilize compensation management software to streamline planning, analyze internal equity, and maintain pay transparency. Regularly review and adjust your strategy to adapt to market trends and employee needs.

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