About this Constellation ShortList™
As employee cost is the top cost category in almost all industries, enterprises need to raise the level of how they measure, plan and execute compensation management. The sad reality is that in many organizations, compensation decisions are made by people leaders using Microsoft Excel. With the war for talent waging and the next-best (often also better paid) job is around the corner, enterprises need to give people leaders better tools to make their compensation decisions more effective.
To be a compensation vendor in this list, vendors must support compensation analysis, planning and the execution of compensation cycles. They also need to have interfaces with the popular Human Capital Management (HCM) software suites (see the Constellation Shortlists for Global HCM Suites and North American SMB Payroll). With the push to global talent comes the need for global compensation, so the vendors need to be present / active on three continents. Their platform needs to be cloud-based, or they are in the process of migrating to a cloud-based platform in the next 12-18 months. Finally, they need to support the necessary analytics on central planning for finance and HR departments, as well as for line-of-business (LOB) leaders and managers to execute compensation cycles. This includes augmented analytics (e.g., flight risk, attrition risk, engagement impact) that the vendors need to support.
Constellation considers the following criteria for these solutions:
- Compensation planning capability for Finance / HR departments / LOB users
- Compensation cycle execution for Finance / HR and LOB
- Explanations of compensation changes to employees
- Out-of-the-box interfaces for popular HCM suites
- Basic and advanced / augmented analytics with key KPIs
- Cloud-based or will have in the next 12-18 months
- Customers and support for at least three continents
- Continuous improvement of the enrollment experience
- Over 500 customers and more than 1M employees’ compensation impacted
- Mobile support for people leaders and at least 100k+ users
The Constellation ShortList™
Constellation evaluates over 30 solutions categorized in this market. This Constellation ShortList is determined by client inquiries, partner conversations, customer references, vendor selection projects, market share, and internal research.
Frequency of Evaluation
Each Constellation ShortList evaluation will be updated every 180 days as needed.
If you would like to put our extensive expertise in vendor selections and contact negotiations to work for you, please contact us at ShortList@constellationr.com.