Ultimate Software, a leading cloud provider of people management solutions, has announced enhancements to its HCM solution, UltiPro, including a new compensation management product. UltiPro’s new Compensation Management solution, now available to all customers, enables managers to navigate through the process of allocating pay and rewards to their people with new, more flexible capabilities to view and analyze current compensation, as well as set up compensation plans by various factors such as performance.
Key features of UltiPro Compensation Management include:
- Analysis tools and talent insight that enables managers to make informed compensation and salary decisions
- Data visualizations and executive roll-up views for informed decision making
- Configurable merit guidelines based on performance rating or compa-ratio that also support employees in their local currencies
- Options to establish target amounts based on percentage of base pay, flat amounts, or units (e.g., restricted stock units)
- Alignment of employee compensation with corporate objectives while staying within budget and following established guidelines
“When managing today’s dynamic and evolving workforce, we believe it’s more important than ever to have the right resources and confidence that you are effectively compensating and motivating your people,” Adam Rogers, chief technology officer at Ultimate Software, said. “Equally important is that your employees, regardless of the country where they work, understand their compensation and have visibility into the factors that drive it.”