CompensationXL is a cloud-based human resources (HR) solution. This product specializes in compensation management.
CompensationXL allows users to create workbooks, which they can access through a secure system. The system stores business rules, and the data is fed automatically to human resources information systems (HRIS).
In CompensationXL, users have access to manager self-service dashboards where they can make recommendations, approve actions and generate reports. The system helps users establish and maintain pay for performance strategies.
Users can upload their existing Excel workbooks into CompensationXL. Compensation processes in the system can be molded to fit users’ existing processes. Users are assigned a primary and secondary support person when they purchase the product. Compensation XL makes customized training videos for its clients.
CompensationXL is priced per employee per year. This product targets mid-market and enterprise organizations. It is available worldwide.
Rebekah from Heitman LLC
This is my second compensation year using CompXL. After the initial year of implementation, the software cut down my year-end compensation process drastically. In previous years, I would be at the office until 10pm every night for weeks on end and would be meticulously searching for file linkage errors and missed updates. The worst part about distributing Excel files to each of your department leaders individually is how difficult it is to keep track of minor tweaks and adjustments made throughout the inevitable iterations of the compensation process. The software is completely customized to my own uniquely complicated incentive compensation structure at my firm, which I would not be able to find anywhere else to this great of detail.
My biggest qualms with the software in the first year was the lack of reporting/filtering capabilities. They have updated that this year and the reporting functionality is literally invaluable. While it might take a less tech-savvy person a while to get the hang of the configuration of reports, for someone like me (who can manipulate excel from an intermediate to advanced level), the new reports allow me the perfect amount of autonomy to configure as many complex reports as I'd like. My CEO requires 30+ reports a year, so semi-automating this process was crucial. This has made my life so much easier that the biggest issue is me being LESS meticulous and detail-oriented because I trust the program more.
The most obnoxious part is the uploading of employee data since I generally have many small, one-off adjustments to make that add up. You have to import it instead of tweaking it within the system.
The obvious worst part about CompXL is the user interface, which is...very excel-like. This isn't going to be like logging into ADP, or Ultipro, or SuccessFactors to do your compensation process. But what it lacks in the modern widget-designed HRIS, it makes up in functionality. You can do a LOT more in this program than you can in any of those programs, because you are basically only limited to the limitations of Excel--which are few.
Are you comfortable in excel? If you are, this program is perfect. Will make your life 100000x better. If you aren't very excel-literate, consider some more intuitive, but less functional software programs. All of my managers have found this program very easy to use and have enjoyed the efficiencies it has created. As a practitioner, I can imagine that this would be a little cumbersome to set up in the beginning for someone who isn't very tech savvy. That said, the implementation team can handle anything you ask them to do--I just prefer to do it myself.