SimplyMerit Reviews & Pricing

Key Features

• 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. 

Limitations

•  No ability to manually enter data into the system. Adding data to a template and then uploading the information makes small changes or updates a labor-intensive task. 
•  Managers can’t freeze employee names when scrolling, resulting in having to scroll back and forth. 
•  Fields can’t be locked. Administrators and managers can’t choose which fields are editable. 
•  Managers can’t customize the emails generated and sent within the system. 
•  No option to prevent managers from spending beyond their budget. 

Suite Support