Waltham, Mass., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Salary.com®, the market leader in total compensation management software and data solutions, announces the acquisition of HCR Software, maker of CompXL’s enterprise incentive compensation planning software. CompXL supports the management of merit raises, bonus, commissions, long term incentive awards, equity, and employee total rewards statements across an entire organization. With this acquisition, Salary.com builds on its core foundation of highly accurate and comprehensive data and software, completing the evolution of CompAnalyst® into the only Total Compensation Management Platform (“TCM”) that pairs Salary.com’s proprietary back-end technologies with a familiar spreadsheet format to make a flexible, scalable, enterprise-ready solution built for the cloud.
Kent Plunkett, CEO and co-founder of Salary.com says, “Most companies struggle to manage decision-making and communications around people’s pay and incentives. Our CompAnalyst Total Compensation Management Platform now offers enterprises everything they need to benchmark, manage, and communicate employee total rewards. Getting pay right is at the heart of the deal between employers and their people. Building trust and engagement are the new imperative for HR, compensation, recruiting and sales leadership teams. With the addition of CompXL’s compensation planning software, and the expertise of their team, Salary.com is creating a way for employers to consistently earn that trust.”
Yong Zhang, President and co-founder of Salary.com says, “We are profoundly committed to the practice of Total Compensation Management. Accuracy, fairness, and communication are at the core of how you get pay right. The addition of CompXL rounds out our award-winning Suite’s capabilities to offer the most complete and integrated compensation capabilities across the entire enterprise.”
The Benefits of CompAnalyst’s TCM Platform
CompAnalyst’s TCM platform now merges spreadsheet familiarity and flexibility with cloud computing's automation, workflow, scalability, and security capabilities. With the ability to create and manage incentive programs that reward and attract the best talent, customers can reduce the administrative burdens often associated with planning and managing compensation.
Other benefits include:
- Ability to create new compensation strategies
- Cycle planning time reduced by up to 75%
- Flexibility to support any incentive plan, including complex incentives like commissions
- Ability to work with both simple and complex plans
- Scalability and support of global plans and multiple currencies across thousands of employees
- Integrations with any HR system (ADP, Ceridian, Oracle, SAP, UKG, Workday, etc.)
- Familiar spreadsheet format offers minimal learning curve
To learn more or schedule a demo, reach out to Salary.com. The solution is also available in the UKG and ADP Marketplaces.
Jamie Davis, CEO of HCR Software says, “I am excited about our future as a part of Salary.com. CompXL has spent the last two decades building the industry’s most configurable enterprise compensation planning application. It is a natural evolution to become part of Salary.com’s CompAnalyst platform. Our people are very excited to join the Salary.com family and continue to care for our hundreds of valued customers.” GlobalLogic, Lantheus, and Natixis Investment Managers are among the many organizations leveraging CompXL for incentive compensation planning.
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