20. March 2024

Introducing Compensation Management: Easier. Fairer. Faster.

Female employee working on Compensation Management.

At our HUG event in 2023, we announced a series of upcoming features to help organisations unlock the power of their people. Now, Personio is excited to announce the launch of Compensation Management: a tool to make compensation reviews easier, fairer and faster — and keep sensitive data safe. 

Why are structured compensation reviews so important?

In this new era of work, employees are demanding more openness from the companies they work for. Less smoke, mirrors and hierarchical structures; and more trust, communication and treatment as equals. 

We recently conducted a study among 2,000 UK employees which showed increased transparency improves employees’ perception of – and trust in – an organisation. That trust is integral to a high performing culture, and promotes productivity, motivation and loyalty.

The research also reveals further benefits of transparency around pay, with 85% of employees believing that this would have some sort of positive impact on the business. These range from better job satisfaction (40%), more trust in the workplace (36%) and greater loyalty / investment in the business from employees (32%). 31% believe this would result in improved performance.

In addition to our own research on employee sentiment, LinkedIn’s Global Talent Trends report found that businesses whose employees rated them highly on their compensation/total rewards strategy have 56% lower attrition rates.

Quote from Luke Sondelski, Director of Reward at Personio.

Personio’s Compensation Management tool

So, getting compensation right is business critical. We’ve built a tool with this in mind, turning manual, error-prone compensation reviews into a smooth, simple process. Compensation Management reduces bias by surfacing key data points at the right time, and makes managers’ lives easier by keeping all the information you need in one place, synced to the Personio platform. Sensitive data is kept secure.

How will it benefit your HR team?

  • Compensation data stretching across multiple spreadsheets

→ A single source of truth for HR data with secure sharing

  • Budgets and timelines slipping due to lack of oversight

→ Dashboards that keep you on-track and on-budget

  • Endless back-and-forth and reviews that lack transparency

→ Effortless sign-off and approvals at scale

  • Disparate processes that get more complicated as you grow

→ Data that auto-syncs to our all-in-one HR platform

  • Complexities that lead to mistakes or exposure of sensitive data

→ A simple, secure process, removing the risk of errors

Quote from Anna Rusinek, Head of Business Development & People Analytics at Westwing.

With Compensation Management, HR teams can more easily motivate and retain their employees with equitable rewards, while improved efficiency drives overall organisational performance. And in the coming months we’ll be adding even more functionality to this feature — so watch this space. 

Want to learn more? See Compensation Management in action here.

Salary bands template

Template Salary bands