New Comp Planning Software Launched for Mid-Size Companies
One of DB Squared’s partnering companies, , HRsoft – www.HRsoft.com – has developed a new software solution designed specifically for the needs of mid-size companies to plan how much to pay their employees.
Called Compensation Business Partner, this Cloud-based software manages four elements of pay, including: market adjustments, merit increases, salary changes with promotions, and bonus awards.
The solution is pre-configured to support employers who want an efficient on-line way to plan compensation allocations when job classification, salary structure and budgets (DBSquared software DBCompensation develops these elements) have been formulated. The new Cloud-based software guides the user through the entire employee pay adjustment planning process.
Companies gain efficiency with their salary budget by distributing salary budget funds in a way that meets their business needs. Also, reports are available to review the data and for audit and control purposes. Also, employees are paid and rewarded properly resulting in higher engagement and retention.
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