Fair and competitive pay remains one of the most influential aspects of employee satisfaction. According to SHRM’s 2016 Employee Job Satisfaction and Engagement Report, 62% of employees who stated they would be likely to look for a job outside their organization reported better compensation as the driving force. With Paylocity’s compensation management tool, you can reward employees while keeping your organization’s bottom line top of mind.
Ensure fair, competitive pay for your employees.
Make informed decisions and ensure increases align with your
organization's guidelines, plus:
- Make annual increases or one-time bonus payments
- Customize the plan(s) based on your pay cycles
- Allocate overall budget & participant eligibility for the plan(s) to ensure alignment with organizational goals
- Configure the plan(s) guidelines & process with automated approval workflows
How does the Compensation Management
tool work for your role?
As the Compensation Administrator, configure the plan’s population and eligibility requirements, pro-ration rules, and automated approval process.
DIRECTORS & MANAGERS
Leadership has an executive view across their reporting structure to see a breakdown of team budgets and payment allocations.
Direct managers can easily manage their budget and distribute increases accordingly with the ability to drill down into performance, pay history, and more.