CompXL vs SimplyMerit

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Our analysts compared CompXL vs SimplyMerit based on data from our 400+ point analysis of Compensation Management Software, user reviews and our own crowdsourced data from our free software selection platform.

CompXL Software Tool
SimplyMerit Software Tool

Product Basics

CompXL, by HCR, offers four modules — Merit, Bonus, Equity and Reward. It provides cloud-based and on-premise deployment models. Its configurable functionalities enable businesses to streamline compensation planning and execution, boost employee satisfaction and productivity, and improve business ROI. It automates incentives and merit planning while reducing manual labor and administration.
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SimplyMerit streamlines and optimizes the compensation process by eliminating the need to manage dozens of spreadsheets and keeping all documentation in a single digital location. Reduce human error and incorporate all necessary information with premade templates. Monitor and track award allocations with real-time data and approve, modify or reject recommendations.

Manage multiple merit cycles and timelines. Generate employee rewards statements and reports. Set alerts to remind managers to complete approvals and update all stakeholders via automated emails. Automatically track every update made to budgets and plans to simplify future audits.

Pros
  • Easy to use
  • Affordable
  • Good support
  • Wide features
  • Integrates well
Cons
  • Limited reports
  • Not for large companies
  • Occasional bugs
  • Lacks some features
  • Limited customization
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$35/Employee, Monthly
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Tailored to your specific needs
$10,300 Annually
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Tailored to your specific needs
Small 
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Windows
Mac
Linux
Android
Chromebook
Windows
Mac
Linux
Android
Chromebook
Cloud
On-Premise
Mobile
Cloud
On-Premise
Mobile

Product Assistance

Documentation
In Person
Live Online
Videos
Webinars
Documentation
In Person
Live Online
Videos
Webinars
Email
Phone
Chat
FAQ
Forum
Knowledge Base
24/7 Live Support
Email
Phone
Chat
FAQ
Forum
Knowledge Base
24/7 Live Support

Product Insights

  • Retain Talent: Combat employee turnover with strategic raises and compensation planning. Offer appropriate raises based on employee performance and merit. 
  • Improve Employee Engagement: Enhance employee satisfaction and engagement with optimized compensation and benefits based on performance and skills. 
  • Offer Competitive and Fair Salaries: Effectively visualize salary bands and make better offers. Helps avoid overpaying and maintaining internal pay inequities. 
  • Spot Compensation Inequities: Identify and eliminate pay gaps in employee compensation using detailed insights and interactive charts and reports. Boost employee satisfaction by conducting thorough pay equity analysis. 
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  • Improved compensation fairness and transparency: SimplyMerit promotes fair and unbiased compensation practices by providing clear data and insights into employee performance and market trends.
  • Enhanced employee engagement and motivation: By recognizing and rewarding employee performance, SimplyMerit helps create a more engaged and motivated workforce.
  • Reduced administrative burden for HR and managers: With automated workflows and streamlined processes, SimplyMerit frees up time for HR and managers to focus on strategic initiatives.
  • Better talent acquisition and retention: A competitive and transparent compensation program attracts top talent and encourages high performers to stay with the company.
  • Improved financial performance: By optimizing compensation spend and aligning rewards with performance, SimplyMerit can lead to significant cost savings and improved financial performance.
  • Data-driven decision making: SimplyMerit provides valuable data and insights that can be used to make informed decisions about compensation strategy, talent management, and workforce planning.
  • Increased confidence in compensation decisions: With greater transparency and data-driven insights, managers and leaders can make more confident decisions about compensation.
  • Improved communication and collaboration: SimplyMerit provides a platform for open and transparent communication about compensation, leading to better understanding and collaboration between managers and employees.
  • Enhanced company culture: By focusing on fair and transparent compensation, SimplyMerit helps create a more positive and rewarding work environment for employees.
  • Reduced risk of legal challenges: By ensuring compliance with legal and regulatory requirements, SimplyMerit helps companies avoid costly legal challenges.
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  • Merit Planning Cycles Administer merit planning cycles from anywhere. Automatically enforce business regulations and policies. Account for multiple rules for separate business regions or units. 
  • Salary Adjustment Letters: Provide customizable compensation statements that include several increase components such as market adjustments, lump sum, promotion, effective date and base increase. 
  • Administrative Control: Facilitate better control even in unforeseen situations such as organizational restructuring, mergers, acquisitions, mass hiring and firing. 
  • Automated Workflow: Automatically load structured reports in a few clicks. Manage approval paths in a customized manner, including exceptions, round trips and regional variations. 
  • Multi-Currency: View employee data and recommend pay based on local currency. Converts and allows simplified monitoring in a common currency for finance and HR personnel.
  • Manager Discretion: Access information using online and offline workbooks. Validate all data points, conceal formulas and trace all changes within the system. 
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  • Compensation Management: Guide managers through every aspect of the compensation management cycle, from configuring and establishing budgets to final approvals. Manage and oversee salaries, bonuses, merit increases, pools, promotions and other payment types. Prorate plans for employees hired mid-year. HR administrators can set and change guidelines to best suit the needs of the business. 
  • Analytics: Leverage built-in analytics tools to identify biases, disparities, outliers and trends in payment. 
  • Multiple Currencies: Calculate conversion rates and manage reward allocations in multiple currencies. 
  • Information Templates: Speed up implementation and upload all necessary compensation information into the system with premade templates. 
  • Report Generation: Automatically generate total reward statements and other reports for each employee. 
  • Alerts: Set alerts and reminders to notify managers of upcoming approval and request deadlines. 
  • Automated Communication: Automatically email individual reward statements and adjustment letters to employees. All managers or administrators can view every update or comment throughout the system, so long as their position in the hierarchy exceeds that of the author. Instantly notify impacted managers of each request approval, change or rejection. 
  • Real-time Data: Provide managers with up-to-the-minute data to help them make informed decisions. Payments and award allocations are instantly updated to reflect how much of the allotted budget remains. 
  • Security: Set permissions to ensure only approved users can see, change or upload data. Track every change made to each compensation process and timeline. 
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Product Ranking

#65

among all
Compensation Management Software

#78

among all
Compensation Management Software

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Analyst Rating Summary

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63
43
56
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Platform and Security Capabilities
Platform and Security Capabilities

Analyst Ratings for Functional Requirements Customize This Data Customize This Data

CompXL
SimplyMerit
+ Add Product + Add Product
Budgeting And Forecasting Compliances Dashboard And Reporting Mobile Capabilities Platform And Security Capabilities Rewards And Recognition Salary And Pay Structure Management Variable Compensation And Incentives Management 56 81 43 71 87 50 82 78 67 63 56 71 93 50 83 78 0 25 50 75 100
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56%
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80%
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76%
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78%
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78%
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Analyst Ratings for Technical Requirements Customize This Data Customize This Data

63%
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37%
75%
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25%

Synopsis of User Ratings and Reviews

Compensation Planning: Provides tools to model "what-if" scenarios for merit increases, promotions, and bonus payouts, allowing for better cost control and alignment with company budgets.
Performance Management: Facilitates the alignment of employee performance with compensation decisions, ensuring that rewards are directly tied to individual and company achievements.
Reporting and Analytics: Offers robust reporting capabilities, enabling HR professionals to gain insights into compensation trends, identify potential pay gaps, and make data-driven decisions.
Compliance: Helps organizations adhere to complex compensation regulations and avoid legal issues by providing tools for tracking and managing employee compensation data.
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Easy to use: Intuitive interface and simple workflows save time and effort.
Fairer compensation: Data-driven insights help ensure pay is fair and unbiased.
Engaged employees: Recognition and rewards programs motivate and improve morale.
Time-saving automation: Streamlined processes free up time for HR and managers.
Improved decision-making: Data-backed insights help make informed decisions about talent.
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Limited Customization: CompXL's rigid structure makes it difficult to accommodate unique compensation plans or complex organizational structures, especially for larger enterprises with diverse needs.
Steep Learning Curve: The software's interface can be overwhelming for new users due to its intricate features and functionalities, often requiring extensive training and support to navigate effectively.
Integration Challenges: Integrating CompXL with existing HR systems or payroll software can be a complex and time-consuming process, potentially requiring custom development or third-party tools.
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Limited reports: Lacks advanced reporting features for deeper insights.
Scalability concerns: May not handle large organizations efficiently.
Occasional bugs: Users encounter glitches and bugs sometimes.
Missing features: Certain desired functionalities are absent.
Limited customization: Less flexibility to tailor the platform to specific needs.
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CompXL has garnered positive feedback for its user-friendly interface and robust reporting capabilities, particularly in comparison to its competitors. Users appreciate the intuitive design, which simplifies complex compensation management tasks and reduces the learning curve for new team members. The comprehensive reporting tools enable HR professionals to gain valuable insights into compensation trends and make data-driven decisions. However, some users have noted that the initial setup process can be time-consuming, requiring careful data migration and configuration. Additionally, while CompXL offers a wide range of features, certain advanced functionalities may require additional modules or customization, which can incur extra costs. Despite these drawbacks, CompXL stands out for its flexibility and scalability, making it suitable for organizations of all sizes. Its ability to handle diverse compensation structures, including base pay, bonuses, and long-term incentives, caters to the needs of various industries and roles. Furthermore, CompXL integrates seamlessly with existing HR systems, streamlining data flow and reducing manual effort. This integration capability is crucial for organizations seeking to optimize their HR processes and improve overall efficiency. In conclusion, CompXL is an ideal solution for organizations seeking a user-friendly, scalable, and feature-rich compensation management software, particularly those with complex compensation structures and a need for advanced reporting and analytics.

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SimplyMerit is generally praised for its user-friendly interface, data-driven approach to compensation, and time-saving capabilities. Users report that it is easier to use and improves fairness and transparency in compensation compared to other platforms like Workday or Cornerstone OnDemand. Additionally, the automated workflows free up HR professionals' time, allowing them to focus on more strategic tasks. However, some users point out that reports lack depth and customization options are limited compared to competitors. Additionally, concerns around scalability and the occasional bug are mentioned. Overall, SimplyMerit seems to offer a strong value proposition for smaller companies or those seeking a simple and efficient compensation solution. However, companies with complex needs or large employee populations might find its limitations frustrating.

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Screenshots

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