How pay review software can empower your process
Using spreadsheets in Excel Hell for your pay review process just doesn’t cut it for anything larger than a small team. There’s a whole host of problems that start to creep in. At best, these issues slow down your HR team; at worst, they affect your managers’ decision-making.
That’s where dedicated pay review software comes into play. There are various solutions out there to make the review process easier. Though they all work differently; they aim to tackle the same core issues.
Managed Service
Managing a salary review is an intense process. Whilst some software vendors will leave everything up to you, others offer an onboarding service. Payreview, a compensation software, falls into the latter category.
An advisor can take tasks like setting up the software and managing your data off of your hands. All you need to do is specify how you want to use the system and provide the data you want to use.
Perhaps you also feel that your process has room for improvement? An advisor can study and improve your current practices. This results in a much more effective process. Not only will this help you, but it will also help the vendor to understand your business. As a result, your software configuration will be based on an intimate knowledge of your organisation and working methods.
Data Management
When using spreadsheets, you face two main issues. First, you may have tens or even hundreds of different files to keep track of. The second is that it’s easy for data integrity to slip between all the different versions.
Using pay review software solves both these issues. Firstly, all your data resides in one secure place. The system will then feed this data to the relevant managers. Secondly, changing the data at the source also changes it for all the managers that access it. This means you don’t have to worry about updating many files to make a single change.
Automated Workflows
Data transfer between managers and HR often happens via email when using spreadsheets. This is an unsecured practice, making it hard to create an audit log of changes. The last thing you want in today's environment is a data leak.
A dedicated pay review system automatically handles data flow from one user to another. All you need to do is configure the workflows. A manager can then complete their review at the click of a button and have the system handle the rest.
Year-on-Year Benefits
The initial stage of using new software is always the hardest. Whether it’s getting it to fit your existing processes or learning the software itself.
Once this is complete, you can return each year to an environment configured to work how you want it to. The configuration of your salary review will stay in the system even after the review has finished. So, all you need to do is make any desired adjustments for the new review and provide the data.
These are a selection of the main benefits of using software to organise your pay review. If you want to learn more about how PayReview can help you, don’t hesitate to get in touch or use the form below.