CompXL Reviews & Pricing

by Human Capital Resource Software | Founded 2006, Jacksonville, FL

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Overview Pricing Benefits Reviews Features

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What is CompXL?

Industry Specialties: Serves all industries

CompXL, by HCR, offers four modules — Merit, Bonus, Equity and Reward. It provides cloud-based and on-premise deployment models. Its configurable functionalities enable businesses to streamline compensation planning and execution, boost employee satisfaction and productivity, and improve business ROI. It automates incentives and merit planning while reducing manual labor and administration.

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CompXL Pricing

Based on our most recent analysis, CompXL pricing starts at $35 (Per Employee, Monthly).

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Starting From: $35
Pricing Model: Per Employee, Monthly
Free Trial: Yes, Request for Free

Training Resources

CompXL is supported with the following types of training:

Documentation
In Person
Live Online
Videos
Webinars

Support

The following support services are available for CompXL:

Email
Phone
Chat
FAQ
Forum
Help Desk
Knowledge Base
Tickets
Training
24/7 Live Support

CompXL Benefits and Insights

Why use CompXL?

Key differentiators & advantages of CompXL

Retain Talent: Combat employee turnover with strategic raises and compensation planning. Offer appropriate raises based on employee performance and merit.
Improve Employee Engagement: Enhance employee satisfaction and engagement with optimized compensation and benefits based on performance and skills.
Offer Competitive and Fair Salaries: Effectively visualize salary bands and make better offers. Helps avoid overpaying and maintaining internal pay inequities.
Spot Compensation Inequities: Identify and eliminate pay gaps in employee compensation using detailed insights and interactive charts and reports. Boost employee satisfaction by conducting thorough pay equity analysis.

Industry Expertise

Serves a variety of industries, including pharmaceuticals, technology, retail, financial services and manufacturing.

Synopsis of User Ratings and Reviews

Based on an aggregate of CompXL reviews taken from the sources above, the following pros & cons have been curated by a SelectHub Market Analyst.

Pros

Compensation Planning: Provides tools to model "what-if" scenarios for merit increases, promotions, and bonus payouts, allowing for better cost control and alignment with company budgets.
Performance Management: Facilitates the alignment of employee performance with compensation decisions, ensuring that rewards are directly tied to individual and company achievements.
Reporting and Analytics: Offers robust reporting capabilities, enabling HR professionals to gain insights into compensation trends, identify potential pay gaps, and make data-driven decisions.
Compliance: Helps organizations adhere to complex compensation regulations and avoid legal issues by providing tools for tracking and managing employee compensation data.

Cons

Limited Customization: CompXL's rigid structure makes it difficult to accommodate unique compensation plans or complex organizational structures, especially for larger enterprises with diverse needs.
Steep Learning Curve: The software's interface can be overwhelming for new users due to its intricate features and functionalities, often requiring extensive training and support to navigate effectively.
Integration Challenges: Integrating CompXL with existing HR systems or payroll software can be a complex and time-consuming process, potentially requiring custom development or third-party tools.

Researcher's Summary:

CompXL has garnered positive feedback for its user-friendly interface and robust reporting capabilities, particularly in comparison to its competitors. Users appreciate the intuitive design, which simplifies complex compensation management tasks and reduces the learning curve for new team members. The comprehensive reporting tools enable HR professionals to gain valuable insights into compensation trends and make data-driven decisions. However, some users have noted that the initial setup process can be time-consuming, requiring careful data migration and configuration. Additionally, while CompXL offers a wide range of features, certain advanced functionalities may require additional modules or customization, which can incur extra costs.

Despite these drawbacks, CompXL stands out for its flexibility and scalability, making it suitable for organizations of all sizes. Its ability to handle diverse compensation structures, including base pay, bonuses, and long-term incentives, caters to the needs of various industries and roles. Furthermore, CompXL integrates seamlessly with existing HR systems, streamlining data flow and reducing manual effort. This integration capability is crucial for organizations seeking to optimize their HR processes and improve overall efficiency. In conclusion, CompXL is an ideal solution for organizations seeking a user-friendly, scalable, and feature-rich compensation management software, particularly those with complex compensation structures and a need for advanced reporting and analytics.

Key Features

Merit

Merit Planning Cycles Administer merit planning cycles from anywhere. Automatically enforce business regulations and policies. Account for multiple rules for separate business regions or units.
Salary Adjustment Letters: Provide customizable compensation statements that include several increase components such as market adjustments, lump sum, promotion, effective date and base increase.
Administrative Control: Facilitate better control even in unforeseen situations such as organizational restructuring, mergers, acquisitions, mass hiring and firing.
Automated Workflow: Automatically load structured reports in a few clicks. Manage approval paths in a customized manner, including exceptions, round trips and regional variations.
Multi-Currency: View employee data and recommend pay based on local currency. Converts and allows simplified monitoring in a common currency for finance and HR personnel.
Manager Discretion: Access information using online and offline workbooks. Validate all data points, conceal formulas and trace all changes within the system.

Bonus

Schedule Planner: Plan based on schedules using features like position-based proration, manager discretion and budgets based on the employee pool. Supports complex employee bonus planning and reporting requirements.
Multi-Factor Bonus Calculator: Use simple data importing, management and storage functions customized for any business size, type or industry. Calculate bonus plans for multiple geographic regions and challenging setups.
Spreadsheet Capabilities: Utilize Excel-like spreadsheets with data validation rules, proration and performance formula support, and eligibility capabilities. Eliminate unnecessary manual labor and complications.
Proration Management: Automatically handle and adjust calculations based on changes in employee profile data.
Targeted Incentive Compensation: Create and implement precisely targeted spot awards and short and long-term incentive strategies for multiple units, divisions and departments.

Equity

Long-Term Awards: Plan, recommend and track long-term award requirements from a single dashboard. View salary statements, e-sign grant agreements and leverage quick access to supportive documentation through the employee portal. Tracking capabilities include vesting schedules, holding reports and value tracking.

Reward

Employee Value Proposition: Offer a clear understanding of employee reward propositions on a single screen. Includes push rewards statements, custom group-centric notifications, employee usage statistics and desktop and mobile access to program administration.