20 Best Compensation Management Software of 2024: Reviewed

Deel is a comprehensive payroll service with a robust self-service function for HR professionals. It’s designed for global teams, letting you manage and keep track of employees and contractors around the world.

Why I picked Deel: Their service is easy to use and offers a wide range of features. The platform gives you a comprehensive overview of benefits, perks, and salary expenses. You can make use of their internal research tools to benchmark salary ranges in over 110 countries in real-time, taking into account mandatory contributions like pension and healthcare.

Deel Standout Features & Integrations:

Features include international market salary insights, employer of record (EOR) or global payroll services, payroll & tax management, a dedicated customer service manager, access to international legal and tax experts, compliant employee contract templates, compliance monitoring tools, expense management, time tracking, analytics & reporting, and 24/7 in-app support. Deel is also SOC2-compliant and ISO 27001-certified, which means it meets international standards for data security.

Integrations are available with a handful of popular accounting and HR management systems that allow you to import and export HR data easily. Key integrations include Ashby, BambooHR, Bob, Greenhouse, NetSuite, QuickBooks, and Xero. They also have an Open API solution that allows developers to build their own interfaces on top of the Deel platform too.

Deel offers flat rate pricing per worker, as well as a free demo.

Aeqium is a cloud-based employee compensation management software that gives people teams the flexibility to collaborate on their compensation planning process, including planning compensation across multiple geographies, currencies, pay bands, and job types. It's suitable for organizations of all sizes and is a comprehensive solution for managing employee salaries, variable pay, equity grants, and compliance reporting.

Why I picked Aeqium: Aeqium uses advanced integrations to help HR teams configure and prepare their compensation cycles by automating the gathering and validation of compensation-related data. This data, combined with their guided workflows for managers, helps organizations make more data-driven decisions. You can also use Aeqium to create customized plans for employees, determine pay equity, and simulate different compensation scenarios to assess their impact on the bottom line.

Aeqium offers agile, self-service functionality so HR teams can make changes to their compensation program themselves at any time rather than relying on tech support for changes. In addition, HR teams have complete control over how much or little compensation details are shown to managers, including data on salary, equity, and others. The platform even offers compensation analysis tools to help teams understand when employees are approaching events like a drop in equity vesting.

Aeqium Standout Features & Integrations

Features include collaboration tools, custom logic and permissions, multi-currencies, proofing & approvals, user-based access, budgeting, interactive offer letters, market data integration, and a total rewards portal for pay transparency.

Integrations include other HRIS, applicant tracking systems, payroll systems, and cap tables and stock systems like Carta.

Aeqium offers customized pricing upon request. They also have a freemium plan available.

Barley is a compensation management platform that brings together pay band management, compensation reviews and merit cycle planning, global benchmarking, and total rewards into one platform. It stands out for its ability to simplify the entire compensation review process with automated approval chains, configurable merit guidelines, multi-currency management, budget allocation by team, visualized compensation analytics, automated comp letters, and secure access controls. 

Why I picked Barley: The software features an easy-to-use interface that allows HR teams to quickly set up and launch company-wide compensation reviews, while being able to integrate with leading HRIS platforms to sync compensation data across systems. With Barley, HR teams can control budgets by setting budgets for specific teams and projecting spend based on pay guidelines. It’s also user-friendly for managers because it embeds pay guidelines and team budgets, and flags outliers to make informed and fair pay decisions during comp reviews. 

Barley Standout Features & Integrations

Standout features include visualized compensation analytics where you can spot potential issues and outliers by analyzing budget spend, pay equity, and pay distribution. In addition, Barley features automated increase and promotion letters to simplify communication compensation with employees. Beyond compensation letters, Barley offers a dynamic Total Rewards portal that enables pay transparency and better communicates the value of all aspects of an employee’s pay (including perks and benefits and equity compensation, like stock options). Other features include compensation review automation, salary band management, pay equity analysis, candidate benchmarking data, and Global Benchmarking Data (powered by Mercer). 

Integrations include HRIS and HCM platforms like ADP Workforce Now, BambooHR, Dayforce, HiBob, UKG Pro, Namely, Paylocity, Paycor, and Workday. In addition, Barley integrates with ATS platforms like BambooHR, Greenhouse, and Lever.

Pave is a comprehensive platform designed to revolutionize the way companies manage employee compensation. It offers workflows for salary and equity benchmarking, compensation planning, and total rewards to ensure fair and competitive compensation packages. By integrating seamlessly with various HR and payroll systems, Pave simplifies the complex process of compensation management, making it accessible and actionable for businesses of all sizes.

Why I Picked Pave: As an employee compensation management tool, Pave excels in providing transparent, data-driven insights that help companies make informed compensation decisions. It enables organizations to align their compensation strategies with market standards while promoting internal equity and employee satisfaction.

Pave Standout Features and Integrations

Features include real-time market data to ensure competitive compensation through up-to-date market insights, total rewards portals and visual offer letters for existing and future talent, offering customizable compensation models that allow companies to tailor their compensation strategies to fit their goals and meet employee expectations. This comprehensive approach provides businesses with the tools needed to manage compensation effectively, promoting fairness and transparency in the workplace.

Integrations include HRIS platforms like Workday, BambooHR, and Gusto; payroll systems such as ADP and Paychex; performance management tools like Lattice and 15Five; financial planning software; equity management platforms; compliance and tax software; and analytics and reporting tools.

TriNet's HR software system is designed to help small to medium-sized organizations manage their core HR needs, including onboarding, payroll, benefits enrollment, applicant tracking, document management, and workforce analytics.

Why I picked TriNet: Their Compensation Benchmark feature, part of its workforce analytics module, automatically pulls industry salary benchmarking data directly from Salary.com. This is helpful as you can run custom analytics using this data to ensure your salary ranges stay competitive against changing market rates.

TriNet Standout Features & Integrations:

Trinet also excels in their workforce analytics capabilities. You can use their software to track all the key metrics that matter, including your headcount, turnover rates, employee tenure, new hires, and terminations. You can also customize their dashboard to track other analytics and key performance indicators that are unique to your business too.

Integrations are available with Assembly, Bob, ChartHop, Compt, Greenhouse, Hyperproof, Lattice, Sage Intacct, QuickBooks, and many others.

Pricing details are available upon request.

Omnipresent is a global employment platform that helps businesses hire, onboard, and manage employees across over 160 countries. By handling payroll, benefits, compliance, and taxes, it simplifies international employment complexities. 

Why I picked Omnipresent: When it comes to compensation management, Omnipresent helps you pay your employees around the world in alignment with local labor standards and regulations. It has automated tools for managing global workforces, including drafting local employment contracts and handling payroll calculations and filings. The platform also offers comprehensive global benefits administration, allowing you to provide competitive benefits packages tailored to each country.

Omnipresent Standout Features & Integrations:

Features include onboarding assistance that guides you through creating compliant employment contracts and designing probation policies, ensuring a smooth start for your new hires. The platform's global payroll services manage payments in multiple countries, ensuring your staff is paid on time, every time. Additionally, Omnipresent offers compliance management, helping you navigate the complexities of international employment laws and regulations.

Integrations include popular HRIS systems, but Omnipresent doesn't specify which ones.

Decusoft Compose is a comprehensive compensation, incentive, and total rewards management software. Their cloud-based software is easy-to-use and purposefully designed to mimic a spreadsheet-based experience many users are familiar with, yet with more advanced functionality.

Why I picked Decusoft Compose: Their solution not only simplifies the management of complex variable pay programs including merit-based bonuses, equity, long/short term incentives, carried interest, and deferrals but also provides enhanced analytics of your data. Diversity, equity & inclusion (DEI), pay equity, and people analytics are all simple to measure, report, compare, and visualize. Compose is easy to use, tailored to your unique needs, and SOC-2 compliant.

Decusoft Compose Standout Features & Integrations:

Features include compensation planning, budgeting & forecasting tools, a wealth of compensation planning models (bonus + equity, bonus only, bonus with deferral, equity award, exceptional impact, financial demo incentive, sales bonus, merit + bonus + equity, merit only, etc.), data dashboards, salary benchmarks, DEI & pay equity analysis tools, and employee performance & merit calibration tools.

Integrations are available with a handful of human resource information systems (HRIS) or other HR management systems including ADP, Oracle HCM, SAP, UKG, and Workday.

Decusoft Compose offers customized pricing upon request and a free demo.

CompUp is a compensation management software designed to assist businesses in managing their compensation processes.

Why I picked ComUp: Its robust compensation benchmarking tool allows companies to stay competitive by accessing extensive market data. The analytics capabilities provide in-depth insights, facilitating collaborative increment cycle reviews, and ensuring data-driven decisions that align with business objectives. I also like that it offers a budget simulation tool for forecasting and strategizing your compensation packages against your budget. Additionally, CompUp's custom offer letters and appraisal capabilities ensure a personalized and professional approach to employee compensation.

CompUp Standout Features & Integrations:

Features include performance reviews, equity management, collaborative compensation planning, incentive management, pay structure modeling, salary surveys, bonus and commission tracking, automated workflows, compliance management, budget forecasting, data visualization, reporting tools, and multi-currency support.

Integrations include various HR and payroll systems.

Xoxoday Plum is a flexible rewards & incentives and payout platform that allows you to offer unique additional compensation opportunities to your workforce. Their scalable platform simplifies payments for any sort of occasion, such as merit-based bonuses or incentives, staff appreciation gifts, milestone rewards, or annual bonus payments.

Why I picked Xoxoday Plum: You can use their software to make global payments with ease, sending direct deposits straight into beneficiaries’ local bank accounts in any international currency. They’re also capable of handling high-volume transactions, including up to 10,000 bulk payouts within minutes.

Beyond just sending payments, you can also surprise and delight your employees with customized digital rewards, including prepaid credit cards, gift cards, or other special experiences. In total, their global rewards catalog includes 21,000+ gift options from 3,500+ brands, spread across 20+ categories.

Xoxoday Plum Standout Features & Integrations:

Features include a user-friendly rewards & incentives engine, high-volume transaction processing, direct deposit into bank accounts or virtual wallets, incentive payouts via Visa or MasterCard, automatic re-routing of failed transfers, end-to-end payout automations, and cashflow management tools.

Integrations are available with Active Campaign, HubSpot, Darwinbox, Freshdesk, SAP, Survey Monkey, Typeform, Qualtrics, Zoho CRM, and others.

Pricing for Xoxoday Plum is a flat monthly fee that doesn't increase as you add more employees. They also offer a free trial and a free demo upon request.

Xoxoday Compass is an automatic sales incentive compensation platform that accelerates sales through competition-based challenges and performance-based bonuses. Their software automates the entire incentive process using pre-set key performance indicators (KPIs) combined with engaging game templates, rules, and conditional logic.

Why I picked Xoxoday Compass: You can design and launch gamified sales incentive programs that will help your sales teams stay engaged and productive, including target-based challenges, milestone achievements, or through an internal team race competition. Xoxoday Compass also offers real-time visibility into performance, tracks commission information and incentive plan details, and processes incentive payments.

Xoxoday Compass Standout Features & Integrations:

Features include a library of gamified sales incentive program templates (target-based, competition-based, cascading, or special structures), live scorecards, a public score leaderboard & achievement feed, an earning tracker, one-click payments, automation, action triggers, nudges, business simulations, predictive analytics, and data insights.

Integrations are available with popular CRM systems, including Freshdesk, Freshsales, Google Sheets, HubSpot, Leadsquared, Pipedrive, Salesforce, and Zoho CRM.

Xoxoday Compass has a progressive pricing structure that decreases your average price per user as you add more users to your account. They also offer a free demo.