YOUR PLANNING SOFTWARE FOR
MERIT by CompXL is a full-featured, flexible merit planning module that will work right alongside your payroll or core HR system. Eliminate the manual labor of copying, pasting, emailing, and inspecting workbooks.
MERIT supports YOUR planning strategy, workbook format, formulas, and approval workflows with one intuitive software solution.
Reduce the duration of focal planning cycles by 70% while staying within budget and making better-informed compensation decisions.
MERIT BY COMPXL FEATURES
MERIT’s online or offline workbook provides a secure and easy way for managers to quickly access all the information they need (such as years of salary history) in order to make informed decisions. Accountability is important to us – which is why every data entry point is validated, every formula is concealed, and every change can be traced. With MERIT’s powerful manager self-service capabilities, your organization can push merit planning down to the lowest level manager without increasing its administrative burden.
Even top tier HR and Payroll systems can struggle to support multi-currency deployments. When administering global compensation planning, managers need to be able to view data and make recommendations in the employee’s local currency, but HR and the finance team need to be able to monitor the high-level budget in a common budget currency. MERIT checks all the boxes, including data security compliance with GDPR and CCPA.
MERIT makes it easy to load your reports-to-structure from any source (payroll, HR, ERP, HCM, Multiple sources, or even from a Data Warehouse). But let’s face it: the merit approval path isn’t always a perfect match with your org chart. MERIT allows you to manage your approval path your way. Do you have exceptions, regional variations on level traversal, or round trips? No problem. MERIT workflow works as you do.
Unforeseen events like reductions in force, mass hiring, mergers, acquisitions, and organizational restructuring all pose unique challenges to merit planning. With MERIT’s full featured admin module, foundation data can be fully reloaded, partially updated, or even re-organized with a WYSIWYG interface. MERIT keeps your compensation team in control even in the face of rapid change.
is your solution.
SEEING IS BELIEVING
In our rapidly evolving world, organizations are reexamining how they conduct Merit Planning and how well their current compensation software supports their need for agility. Innovative compensation professionals must employ an arsenal of tactics to remain competitive in the war for talent. Previously, the peanut butter approach of spreading a 3% salary increase budget evenly across the employee population worked well enough.
Now, compensation management software buyers must seek advanced functionality and flexibility to support multi-currency merit planning, outstanding service awards, lump-sum adjustments, project completion bonuses, spot awards, and market adjustments. Many companies are looking to utilize variable pay in even their annual merit planning cycle.
CLIENTS’ TELL ALL
“Easy to Use and Good Customer Service”
I used to spend a lot of time each merit season setting up the current year’s review in our old comp system and struggling with subpar reporting, with CompXL nearly all of that goes away. My customer service experience has also been good.
Cheryl B. Director, Compensation & Payroll