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Compensation Management

COMPENSATION MANAGEMENT

Ensure Fair, Competitive Pay for Employees

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.

Make Informed Merit Increase Decisions

  • 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 it Work For Your Role?

COMPENSATION ADMINISTRATOR

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 MANAGER

Direct managers can easily manage their budget and distribute increases accordingly with the ability to drill down into performance, pay history, and more.

Want to learn more about our HCM solutions
& compensation management?