{"id":548,"date":"2020-11-02T10:00:34","date_gmt":"2020-11-02T10:00:34","guid":{"rendered":"http:\/\/sage-people-scraping.local\/?post_type=sage_glossary&#038;p=548"},"modified":"2021-03-31T11:24:51","modified_gmt":"2021-03-31T10:24:51","slug":"what-is-a-compensation-management-system","status":"publish","type":"sage_glossary","link":"https:\/\/www.sage.com\/en-gb\/blog\/glossary\/what-is-a-compensation-management-system\/","title":{"rendered":"What is a compensation management system?"},"content":{"rendered":"<header class=\"entry-header has-dark-background-color entry-header--has-illustration entry-header--has-illustration--generic\">\n\t<div class=\"container\">\n\t\t<div class=\"entry-header__row row align-center\">\n\t\t\t<div class=\"col col-lg-7 col-xlg-6 entry-header__content\">\n\t\t\t\t\t\t\t<div class=\"component component-single-header\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"entry-header__misc text--subtitle text--uppercase text--small\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-gb\/blog\/glossary\/\" class=\"entry-header__link\">Glossary definition<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<div class=\"entry-title-wrapper\">\n\t\t\t\t\t<h1 class=\"entry-title\">\n\t\t\t\t\t\tWhat is a compensation management system?\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t<div class=\"single-post-details container\">\n\t\t<div class=\"col\">\n\t\t\t<span class=\"reading-time\"> min read<\/span>\n\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tclass=\"social-share-button button button--icon button--secondary js-social-share-button\"\n\t\t\tdata-share-title=\"What is a compensation management system?\"\n\t\t\tdata-share-url=\"https:\/\/www.sage.com\/en-gb\/blog\/glossary\/what-is-a-compensation-management-system\/\"\n\t\t\tdata-share-text=\"Please read this interesting article\"\n\t\t>\n\t\t\t<span class=\"social-share-button__share-label\">Share<\/span>\n\t\t\t<span class=\"social-share-button__copy-label\" hidden>Copy Link<\/span>\n\t\t\t<span class=\"social-share-button__copy-tooltip\" aria-hidden=\"true\" hidden>Copied<\/span>\n\t\t<\/button>\n\n\t\t\t\t<\/div>\n\t<\/div>\n<\/header>\n<div class=\"sage-block-classic-wrapper\">\n\nA compensation management system is a technology tool that manages salaries, bonuses and benefits for an employer.\r\n\r\nIt uses defined and automated processes and central data storage to do this efficiently and consistently, so that compensation is fair, competitive, effective and properly administered.\r\n\r\nGood compensation management maintains workforce loyalty and satisfaction \u2013 poor compensation management leads to employee frustration and can undermine productivity and lead to high staff turnover.\r\n\r\nThat\u2019s why software systems that help employers plan, deploy, monitor and administrate compensation are highly valued in a competitive talent marketplace.\r\n\r\nCompensation management systems help managers to make sure they are applying pay policy fairly across their workforce and to benchmark against similar employer programmes.\r\n\r\nLeading organisations may offer a wide range of benefits and flexibility for employees to choose.\r\n\r\nA compensation management system keeps track of who has chosen what and gives employees the right monthly pay and access to the appropriate benefits.\r\n\r\nIt can also handle secure record-keeping and information exchange with taxation authorities.<\/div>","protected":false},"excerpt":{"rendered":"<p>A compensation management system is a technology tool that manages salaries, bonuses and benefits for an employer. It uses defined and automated processes and central data storage to do this efficiently and consistently, so that compensation is fair, competitive, effective and properly administered. Good compensation management maintains workforce loyalty and satisfaction \u2013 poor compensation management [&hellip;]<\/p>\n","protected":false},"author":1660,"featured_media":0,"template":"","meta":{"_sage_video":true,"footnotes":""},"tags":[41],"class_list":["post-548","sage_glossary","type-sage_glossary","status-publish","hentry","tag-hr-process"],"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Sage Advice UK","distributor_original_site_url":"https:\/\/www.sage.com\/en-gb\/blog","push-errors":false,"_links":{"self":[{"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/sage_glossary\/548","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/sage_glossary"}],"about":[{"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/types\/sage_glossary"}],"author":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/users\/1660"}],"version-history":[{"count":0,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/sage_glossary\/548\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/media?parent=548"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/tags?post=548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}