The new report reveals how the best companies approach compensation

The data market, tools and technology and the compensation profession are evolving. The technology market and the number of professional compensation roles are forecast in the coming years. To truly understand this growing market, Salary.com was associated with Fighthuse Research \u0026 AMP; Advice to conduct a primary study of its kind to understand the differences in payment practices and approaches between high and low performance companies. The report, buyer’s guide for compensation technology and AMP; The objective of the landscape of the supplier is intended to help compensation professionals and HR leaders evaluate technology in the market, as well as what to consider adopting a purchase decision.

Compensation is in the minds of employers, candidates and employees, but why now? For one, it plays an important role in the success of a company.

\”Compensation management systems such as Salary.com’s companalyst are giving companies data, tools and resources to boost business growth, help employers. Proper talent, and preserves the best people for success Future, \”said Ben Eubanks, headlight research analyst.

Because compensation is more important than ever, compensation professionals and HR leaders must make decisions based on decisions. on comprehensive, precise data, and using tools and technologies that escalate their capabilities and improve their speed and precision. The spreadsheets will no longer reduce it for organizations that want to get ahead.

In fact, the study showed that the underwent interpreters were 50% more likely to use spreadsheets or nothing at all to manage their compensation function. On the contrary, the high interpreters in this studyIO had 32% more chance of having a dedicated compensation technology instead.

While this does not imply that having a system makes the company a high performance, it correlates with the fact that high artists use more data sources and take a more intentional approach for the selection of Compensation technology It is implicit that the high interpreters are more strategic based on this different mix of behaviors and decisions.

High-performance companies not only observe technology selection as a team effort, but they build more diverse equipment than average signature. Having this wide mix of individuals, perspectives and values \u200b\u200bin the team helps ensure that the system and its impact on the business are not relegated only to the compensation team. This may be the reason why the high interpreters are more satisfied with their technology in PROMEDIO (7.5 Satisfaction compared to 6.8 for low performance), especially when combined with the fact that these companies are more likely to keep their purchase until they find the one that matches its needs the best, not just because the budget prohibits them fromthey do it.Meanwhile, the low interpreters have approximately 30% more chance of saying that the budget is a barrier.

Hiring managers, executive leaders and other stakeholders need the compensation teams that create, and high interpreters carry out that those interested parties are involved in the decision-making process for the selection ofthe technology.For more information about why compensation is an urgent topic at this time and how high-performance organizations are using technology to stay ahead, download elinforward.