Key Features

CompTrak

• Compensation Management: Manage and simplify all aspects of the compensation cycle. Utilize multiple reward types, such as salary, bonus, commission, merit and long-term incentives across multiple years, equity and deferral programs. Create specific guidelines and goals for individual employees. Ensure all allocations are equitable and free of bias. Automate tasks and data collection to optimize the workflow. 
  • Scenario Modeling: Utilize the scenario modeling module to review, analyze and simulate allocations. Manage multiple types of bonus payment plans, such as discretionary, formulaic or performance-based. 
  • Promotions Management: Oversee the entire promotions process from nominations to approval and notification. Customize eligibility requirements to ensure only qualified employees are nominated. Send personalized communications to successful candidates. 
  • Historical Tracking: Automatically generate an audit log tracking changes or updates to the compensation process. 
• Performance Management: Create and assign goals and objectives at the corporate, team or individual level. Produce comprehensive statements to illustrate how an individual’s performance impacts them, the department and the company. Keep employees informed and engaged throughout the year with milestone and goal updates. Utilize self-assessments to aid evaluation of employee and manager performance. 
• Statement Generation: Generate dynamic, interactive total rewards statements to show employees the value of their complete compensation package and which specific awards their eligible to receive. Employees can access statements online securely, with single sign-on via ADFS. Ensure reports are only accessible to authorized persons by configuring roles and groups. Export statements as PDFs with company marketing. 
• Customizable Dashboards: All key stakeholders have access to customizable dashboards with real-time data, like pool allocation and totals, to get a holistic view of the compensation plan and make informed business decisions. Tailor dashboards to display only the information valuable to the individual user. Set alerts for pending requests, recommendations, approvals and deadlines. 
• Global Capabilities: Manage workforces across the globe using multiple languages, currencies, exchanges and real-time FX rates. Set governance and audit requirements based on regional laws and regulations. 
• Third-party Integration: Integrate with legacy or preferred third-party platforms to automatically pull data from core HRIS or performance management systems. 

Limitations

•  Error handling needs improvement. Error messages are not very meaningful, making it difficult to determine the cause of errors. 
•  The user interface is outdated and could use modernization. 
•  Implementation can be slow. Some users needed substantial back and forth communication with the vendor to set up customization options. 
•  Can’t proxy in as another user to see their customized views. 

Suite Support