Compensation Management Software
Attract and retain top talent with a comprehensive compensation program that helps your team stay up-to-date on industry trends with the functionality of an intelligently connected platform that lets them manage the entire process from start to finish.
Solution Video
See how the isolved Compensation Management tool gives your team the power to manage the entire process from start to finish within the isolved intelligently connected platform.
Key Solution Features
Manage events, assign tasks, automate reminders and enable changes to flow directly into isolved Payroll. The Compensation Dashboard even offers complete visibility into annual merit increases, salaries, bonuses and more across your organization.
Set Eligibility Rules
Configure eligibility rules for applicable groups of employees and collaborate with approvers to easily adjust for merit increases, bonuses and more.
User-Friendly Dashboard
View all events, plans and statuses in one place and automate the compensation process so changes flow directly to payroll.
Configurable Event Management
Create and manage events, assign approvers with tasks and set up reminders to ensure they’re completed in a timely manner.
Compensation Data Analysis
Make informed decisions with the ability to display factors on the Compensation Analysis grid, ensuring you have the metrics you need in real-time.
Compensation Benchmarks and Analytics
Improve Compensation Decisions with the Power of isolved Predictive People Analytics and Benchmark Insights
The power behind isolved’s intelligently connected solutions lets you drill down and filter analytics on the Compensation Dashboard, plus analyze position-specific salary benchmark data to optimize your compensation strategy so your company can remain competitive and improve retention.
Key Industries
Healthcare Services
Healthcare providers – from home-based to hospitals – have complex compliance, taxation, scheduling, and time and payroll needs. Free up administrative tasks to focus on what matters most: patient care.
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Financial Services
From big banks to local credit unions, isolved makes it easy to simplify taxation, export your general ledger, manage salaries and complete benefits enrollment—all while reducing manual and paper processes.
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Professional Services
Tax accountants, staffing agencies, legal firms and other professional service providers lean on isolved to correct errors, process time and reduce compliance risk all while improving experience.
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What is compensation management software?
Compensation management software is a tool that helps businesses plan, allocate, and manage employee compensation, including salaries, bonuses, and incentives. It streamlines pay decisions by using data-driven insights to maintain competitive pay structures, ensure pay equity, and align compensation with performance management goals. These platforms reduce reliance on spreadsheets and manual processes by offering compensation planning software with forecasting, templates, and planning tools.
isolved’s compensation management platform provides HR leaders with a centralized system to streamline salary planning, total rewards management, and pay transparency. Unlike traditional spreadsheets or fragmented systems, isolved offers built-in forecasting, equitable pay analysis, and seamless integrations with HRIS and performance management tools. With isolved, businesses can confidently make pay decisions that align with market trends, reduce pay gaps, and create structured, competitive pay practices that attract and retain top talent.
Why is compensation management important?
Compensation management helps businesses attract, retain, and engage top talent by offering competitive pay and well-structured compensation packages. A strong compensation strategy relies on up-to-date market data and benchmarking to maintain pay equity and prevent pay gaps. Without structured compensation planning, businesses risk inconsistencies in pay decisions, lower employee engagement, and challenges in retaining skilled employees.
Using compensation management software streamlines administrative tasks by automating compensation processes, integrating real-time compensation data, and improving forecasting. isolved’s compensation management platform stands out by providing a configurable system with planning tools, dashboards, and data-driven insights that help HR leaders make informed decisions. With integrations to HRIS and performance management systems, isolved simplifies salary planning, total rewards tracking, and compensation analysis, making it easier to implement fair and competitive pay practices.
Watch out on-demand webinar to learn how to master compensation management.
What should you look for when selecting compensation management software?
When choosing compensation management software, look for a system that supports total compensation planning, including salary, bonuses, and incentives. It should offer tools for allocation, forecasting, and pay structures to help businesses create competitive pay practices. The best compensation platforms integrate with human resources systems to centralize data, streamline pay decisions, and improve accuracy.
A strong compensation management system should also include flexible pricing, support various job titles and pay structures, and provide reporting features for pay transparency and equitable compensation. isolved stands out by offering a comprehensive platform that automates salary planning, simplifies total compensation tracking, and integrates directly with HR and performance management systems. Look for software with automation to reduce manual work and ensure consistency in salary planning. The ability to scale with business growth and align compensation strategies with workforce needs is essential for long-term success.