In an update to its compensation management and planning software as a service solution, Aquire Compensation 2.0 has added several new budget modeling features and a new employee pay analysis report. With the updated budget modeling functionality, compensation managers can generate varying budgeting scenarios so that they may asses the financial impact, under such conditions, upon an organization as a whole or on subsections or teams. Employee compensation may also be reviewed from within the context of a variety of budget models before being passed along to divisional management. The tool also allows HR and management to remain in parallel regarding budget planning through the creation of a centralized data hub that updates instantly.
The employee pay analysis report gives HR professionals the ability to compare salaries as broken down by position and performance levels. A simplified, visual graph easily identified potential outliers for both pay and performance issues. Pay and performance data may be viewed at the company-wide level or at the individual employee level for comparisons between workers with similar jobs. Finally, the tool allows for employees to be easily categorized into groups addressing issues of performance, potential or demographics.
Ross Melbourne, CTO and cofounder of Aquire, said, “Aquire Compensation 2.0 is more than just a point release update. We added the new budget modeling and Employee Pay Analysis Report features because that’s what our customers and partners want from their compensation management software. Compensation 2.0 gives compensation planners and managers the data needed to make wise workforce decisions.”