Compensation management is a process of talent management and employee retention by evaluating factors such as attendance, salary, working time, bonuses, benefits, and on-site amenities of the employee for rewards & compensation process in any organization. This is done to improve productivity of the employees of a company. Compensation software provides benefits of reduced labor cost by use of salary & compensation data (both internal & external) to facilitate better planning and more target incentive programs.
One of the key trend and driver for growth of this market is adoption of digital HR technology. Mobile phones are becoming most preferred channel for work for employees which has pushed organizations to adopt digital HR technology to update and communicate for tasks such as to provide information about new rules/ regulations, attendance policies, and for meeting reminders.
Key features of the study:
- This report provides in-depth analysis of compensation software market size (US$ Million) and Compound Annual Growth Rate (CAGR %) for the forecast period (2018– 2026), considering 2017 as the base year
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players It profiles leading players in the global compensation software market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, compensation software market capital, key developments, strategies, and future plans Companies covered as part of this study include HRsoft, Kinixsys, Kronos, Beqom, Halogen Software, Willis Towers Watson, Greytip Software, SumHR, Ultimate Software, Talentsoft, BullseyeEngagement, JSM Technologies, Decusoft, Peoplefluent, Execupay, ADP LLC, PayScale, CWS Software, SAP Success Factors, Cornerstone, Curo, Oracle Corporation, Harvest HCM, Workday Inc., Nitso Technologies, and Lumesse. Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding their future product launches, product upgrades, market expansion, and marketing tactics The global compensation software market report caters to various stakeholders in this industry including investors, software developers, service providers, new entrants, and financial analysts Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global compensation software market