A salary review process based on comprehensive evaluations; Talentsoft’s integrated Compensation platform centralizes the data from all talent management processes, enabling you to distribute rewards, stock options, bonuses, and promotions. Monitor employee performance across the board using customized evaluation forms, gain instant access to compensation data during performance reviews, and automatically enter any changes in an employee’s compensation into the payroll system. Talentsoft offers all this from a single platform.
When it comes to establishing a comprehensive compensation strategy, managers face many potential challenges. It must be motivational and rewarding of individual performance, while verifying and benchmarking compensation distribution and salary ranges to ensure maximum fairness.
The Talensoft compensation management tool supports managers in a number of ways. By providing them with a comprehensive and collaborative compensation system, Talentsoft optimizes the work processes and cuts decision-making time. Rewarding employees’ performance while remaining within the restrictions of the budget constitutes a difficult balancing act. Our platform ensures managers are provided with a reliable compensation management tool that enables them to find solutions based on reliable and actionable information. Beyond this, automated alerts help to avoid policy noncompliance errors, quickly identify salary gaps, and provide a clear and detailed overview of your budgets in real-time.
1. Individual Forecasting. The compensation management software allows you to view each of your talents individually to assess the compensation they are currently receiving. In one easy step you can view their position, current yearly base salary, and potential new yearly base salary. You can also view the possible maximum salary development dependent on the actual compensation received.
2. Analytics Support. It is important to keep an eye on the compensation trajectory of your talents so you know how to budget for growth. The analytical support of the Talentsoft compensation management tool provides you with information regarding the typical minimum salary in regards to years of experience, ensuring you make informed decisions and supporting you with salary forecasting.
3. Decision Making Support. To streamline the compensation system the Talentsoft tool includes a simple and dynamic user interface with a dedicated compensation profile for each talent. This interface, which is built around your company compensation policy, guides you through the decision making process, making it a work flow engine that ensures maximum efficiency.
4. Budget Control. Lastly, the Talensoft compensation management software provides you with understandable and reliable budget control, showing you your total budget, how much of it you have consumed, and how much remains. This ensures you always know exactly how much is available and enables you to make fast but informed decisions.