11 best compensation management software in 2024

Forward-looking companies need to start thinking about compensation as a long-term strategy for recruitment and retention — not a reactive, quick-fix solution.

That means it’s time to move away from inflexible manual processes, outdated metrics, and “gut decisions.” Instead, you should implement a comprehensive compensation management software solution.

But with the breadth of options available, where do you start? Choosing the right compensation tool takes research and time, but we’ve done the work for you, by breaking down a list of the top 11 compensation management solutions.*

*The information below is based on our research from June to September 2022. All user feedback referenced in the text has been sourced from independent software review platforms such as G2 and Capterra in December 2022

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Customer rating

Leapsome offers modular pricing, starting at US$8 per user per month.



Anaplan compensation management

Anaplan’s pricing isn’t readily available.



Beqom compensation management

Beqom’s pricing isn’t readily available.

Options not readily available


Bob (HiBob)
Hibob compensation management

Pricing not readily available.



Charthop compensation management

Free basic plan (for up to 150 employees). Paid plans US$2-12.



Compport compensation management

Pricing not readily available



Gradar compensation management

Starts with a free basic plan with limited features. Paid plans US$2,100-6,000 a year.



Payfactors compensation management

Payfactors’ pricing isn’t readily available.

Options not readily available.


SimplyMerit compensation management

SimplyMerit’s pricing isn’t readily available.

Options not readily available.


Welcome (by BambooHR)
Welcome compensation management

Welcome’s pricing is not readily available.



Workday HCM
Workday compensation management

Workday’s pricing isn’t readily available.



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Important criteria for compensation management solutions

Managing employee compensation in a fair, equitable, and sustainable way takes more than a strategy — you need software that’ll bolster your compensation planning practices. Here are key elements you shouldn’t go without:


As organizations evolve, so do their compensation planning needs. Is the compensation software designed to handle more users and sophisticated tasks as you grow?


Easy-to-understand analytics will help you create a more transparent compensation process — and your finance department will appreciate them for better budgeting.

Intuitive UI

A compensation management system should be easy for employees and admins to use. Avoid software that is clunky or hard to customize.

Take your compensation planning to the next level

Enable your teams ‍to make data-informed compensation decisions with Leapsome’s compensation management tools

1. Leapsome

Screenshot of the Leapsome Compensation UI

Leapsome takes a holistic approach to people enablement with its all-in-one people enablement platform.

The company is committed to helping growth-oriented businesses manage every aspect of their people development: from employee engagement to performance reviews and personalized learning and development.

And now, Leapsome is also bringing promotion and compensation management.

Leapsome is a great option for companies that see compensation as a way to motivate, reward, and retain employees, as the platform’s compensation features also communicate with its tools for goals and OKRs, performance reviews, and development frameworks.

This interconnectedness of compensation and performance management systems gives managers and HR leaders better visibility into employee performance. It also helps prevent unconscious bias when making assessments and recommendations about an employee raise or bonus.

Additionally, Leapsome is ideal for companies that want to make data-informed decisions around employee promotions and compensation. Why? The analytics dashboard gives you quick insight into your company’s pay bands and pay distribution. That way, managers and stakeholders will have internal standards to guide processes like updating salary bands or offering employees raises or promotions.

Notable features

  • Customizable templates for a structured compensation review process
  • Access to employee information around performance reviews, goals, and development frameworks
  • Easy coordination of your compensation and performance review cycles
  • Smart compensation recommendations for managers based on set rules
  • Track compensation review progress and analyze review results

And Leapsome includes the following features with any module:

  • High praise for enabling better communication between departments
  • Compensation tool integrates with reviews, goals, and development framework features
  • no mobile app yet
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2. Anaplan

Screenshot of the Anaplan UI

Anaplan is a cloud-based business modeling and planning software that aims to provide data for better collaboration and decision-making.

The software delivers a single hub for users to build, deploy, maintain, and share business models without coding or relying on IT departments or data scientists. Once they upload their internal data to Anaplan’s cloud, users can analyze diverse data sets from various areas of their business, such as their HR, finance, or sales departments.

Notable features

  • Predictive intelligence
  • Excel-style models that make for easier data comprehension
  • Enterprise-wide cloud security
  • Flexible data sharing
  • Extensions for Google Sheets, Microsoft Excel, PowerPoint, and Office 365
  • Clear analytics make understanding data easier
  • not specifically for compensation management but offers features for compensation planning
  • Reportedly steep learning curve for model building within the platform

3. Beqom

Beqom is a compensation management software designed to streamline the integration of compensation and incentive processes. The platform’s core focus is total compensation, and it helps companies manage their end-to-end compensation depending on their size and business needs.

With the tool’s analytics dashboards, managers and leadership can get visibility into every employee’s total rewards structure, identify workforce patterns and changes, and spot potential obstacles.

Notable features

  • Salary management
  • Bonus management
  • Individual compensation planning
  • Long-term incentives and bonus deferral data
  • Equal pay analysis and compliance features
  • self-service aspects
  • detailed reporting
  • limited options to integrate compensation and promotion practices
  • some reported issues with the beqom support team

4. Bob (HiBob)

Screenshot of the Bob UI

Bob is an HRIS platform with tools for team, performance, and compensation management.

Bob’s compensation management system gives you access to local salary benchmarks and allows for collaborative compensation decisions across departments and levels.

Notable features

  • Team management tools for time tracking, attendance, and paid time off
  • Performance management
  • Compensation management
  • no features to integrate employee goals, OKRs, and development frameworks with compensation
  • user-friendly UI
  • Integrations with other HR tools

5. ChartHop

Screenshot of the ChartHop UI

ChartHop helps managers assemble data to make unbiased decisions around compensation. This includes insights on current salary, equity, and total compensation bands, as well as employee information relating to recent raises and length of time with the company.

ChartHop’s platform also lets you share this data company-wide. This is particularly helpful if, for instance, your finance department wants to see how recent compensation decisions will impact budgeting.

Notable features

  • Compensation management
  • Performance management
  • Organization and headcount planning
  • Diversity, equity, and inclusion (DEI) dashboards and reports
  • HRIS integrations
  • good visualization of organizational charts
  • easy to see and compile reports with data sheets
  • reported learning curve for organizational use

6. Compport

screenshot of the compport UI

Compport is a compensation software that helps you manage various aspects of the compensation management process, including salary structuring, reward and recognition plans, bonus and incentive management, and salary reviews. Compport users can also access analytics to gain insight into internal trends like turnover, gender diversity, and productivity.

Notable features

  • Automated merit or ad hoc salary increments
  • Bonus and incentive management
  • Salary structuring
  • Pay equity management
  • Multidimensional analytics
  • easy to configure
  • language options seem limited besides English

7. Gradar

Screenshot of the Gradar UI

Gradar is a job evaluation software that gives you access to consultant-level insights and lets you analyze and assess your roles across 25 grades and within three general career paths: individual contributor, management, and project management. You can use these insights to create career frameworks, remuneration schemes, and compensation structures within Gradar’s platform.

The software’s benchmarking tools let you upload your internal job evaluation results and market data so you can set up total compensation benchmarks for each role in your organization.

Notable features

  • Job evaluation
  • Competency management
  • Compensation benchmarking
  • Compensation structuring
  • Equal pay analysis
  • Reported good customer service
  • Modern approach to job evaluation
  • Steep learning curve
  • No integrated tools for internal communication, performance review, or employee goals

8. Payfactors

Screenshot of the Payfactors UI

Payscale’s product for compensation management — Payfactors — uses three distinct data sets to help organizations be more predictive in their compensation planning. Payfactors users can make compensation-related decisions based on insights from industry peers, HR market analysis, and Payscale’s employee-reported salary database.

One standout Payfactors feature is its function for “what-if” scenarios, which lets you model the impacts of potential market or internal changes on your compensation scheme.

Notable features

  • Market pricing
  • Compensation planning
  • Total rewards statements
  • Reporting and analytics
  • Pay equity monitoring
  • access to comprehensive datasets for compensation structuring
  • Reportedly "clunky interface"
  • No integrated features for performance management and employee engagement

9. SimplyMerit

screenshot of the simplyMerit UI

SimplyMerit by MorganHR is a cloud-based compensation management software specifically designed to help teams manage, automate, and optimize merit cycles and incentive pay budgeting.

To that end, the software focuses on empowering managers to optimize elements of their total rewards program, including merit pay, bonuses, and equity grants. It also helps managers and HR teams visualize how changes in incentive pay can affect their overall compensation structure.

Keeping that in mind, SimplyMerit may work best for you if you’re already familiar with the basics of compensation planning and are just looking for a tool to help you navigate merit and incentive compensation.

Among the tool’s highlights are its pay equity alerts. These alerts notify managers, HR professionals, and leadership about areas in their bonus and merit schemes that could be more equitable and fair.

Notable features

  • Automated workflows for merit pay revision requests and approvals
  • Collaboration features
  • Analytics and reporting
  • Compensation modeling and planning
  • Ease of use
  • Excel-like design for customizing compensation planning
  • Doesn't integrate with al HRIS systems easily

10. Welcome (by BambooHR)

Screenshot of the welcome UI

Welcome (owned by BambooHR) is a talent and compensation management software that offers tools for accessing market data on compensation, creating total rewards schemes, and making competitive offers to prospective talent.

With Welcome’s Compensation Data plan, HR can create compensation scenarios for candidates and employees, measured against compensation data from current employees and real-time market research.

Notable features

  • Compensation management
  • Total rewards management
  • Internal and industry benchmarking
  • new tool so a lack of user reviews

11. Workday HCM

Workday is a human capital management (HCM) system that offers solutions for workforce management and planning, but it also has specialized compensation software. With Workday’s compensation management system, managers, leadership, and HR teams can collaborate to create compensation packages that include base pay and total rewards.

A notable Workday feature is that the platform makes it easier to work with external compensation survey data.

Notable features

  • Compensation analysis tools
  • Pay equity dashboards
  • Total rewards statements
  • Compensation review tools
  • Good visibility and transparency
  • Ease of use for both administrators and employees
  • Backend UI issues

Why customers love us

5 rating stars

“We've been using Leapsome for over a year, and we love it”

Susie P.

HR manager

AI software (10-100 employees)

5 rating stars

“I love how easy Leapsome is to set up and explore as a manager and user”

Sarah S.

Chief operational officer

B2B agency (10-100 emp.)

5 rating stars

“Leapsome has provided more ways to keep our employees engaged”

Katy S.

Exec. Administrator & Comms. Manager

Research Services (500-1000 emp.)


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What to know

Frequently Asked Questions

How to choose the best compensation management solution?