Manage Compensation with Ease
Why choose BambooHR® Compensation Management?
Compensation doesn’t have to be complicated
COMPENSATION BENCHMARKING
Make equitable pay decisions with integrated Mercer data
Simplify your compensation strategy with integrated, reliable Mercer data—available right in BambooHR. Attract and retain top talent by offering fair, competitive pay and aligning your pay scales with industry standards.
LEVELS AND BANDS
Establish transparent pay practices and clear career paths
Managing consistent job levels and pay bands can be a challenge, but it doesn’t have to be. Clearly define and track career paths and salary ranges across your organization with built-in Levels and Bands tools.
COMPENSATION PLANNING
Simplify your entire compensation review process
Attract, retain, and reward top talent with a streamlined, efficient process. Optimize your compensation review cycles with our comprehensive tools:
- Cycle creation
- Budgeting
- Permissions
- Worksheets
- Currency conversion
- Notifications
- Compensation change communications
- Approvals
TOTAL REWARDS
Show your people just how much you value them
Help employees understand the full scope of their total compensation, so they feel appreciated and motivated to stay. Provide a comprehensive view of their compensation, including salary, benefits, and other perks on one easy-to-view platform.
See how BambooHR Compensation Management works
Get even more out of BambooHR with [integrationsCount] integrations
Our Compensation Management customers say it best
"Compensation benchmarking has been an amazing new addition to our toolbox. It’s quick and easy to do. It also allows us to make sure everyone is being paid fairly compared to other positions in our area."
Natalie Allen | Office Coordinator | FreeFlight Systems
Frequently Asked Questions
How does BambooHR ensure salary data accuracy in Compensation Benchmarking?
BambooHR uses integrated market data from Mercer to power Compensation Benchmarking. This includes Mercer Comtryx for worldwide tech-industry benchmarks and comprehensive job title benchmarks for North America and Canada, with coverage continuing to expand. Having Mercer data available directly in BambooHR helps ensure reliable, current benchmarks for equitable, competitive pay decisions.
Can I customize compensation workflows and approvals?
Yes. BambooHR Compensation Management supports customizable cycles with tools for cycle creation, budgeting, permissions, worksheets, and approvals. Built-in notifications and compensation change communications keep stakeholders aligned and the process moving smoothly.
Does BambooHR support global compensation planning and multiple currencies?
Yes. Planning tools support your full process regardless of location, and automatic currency conversion simplifies reviews for global teams. This helps you manage consistent compensation decisions across regions.
How does BambooHR help communicate compensation changes to employees?
BambooHR includes tools to streamline compensation change communications so employees clearly understand updates to their pay. Notifications and approval flows ensure the right reviewers are looped in before changes are finalized and shared.
Is Total Rewards included, and what do employees see?
Yes, Total Rewards is included. BambooHR automatically creates Total Rewards statements from your HRIS data, giving employees a comprehensive view of salary, benefits, equity, and other perks. This transparency helps people see the full value of their compensation.
Can BambooHR help with pay transparency and career paths?
Yes. Built-in Levels and Bands let you define consistent job levels, salary ranges, and clear career paths across your organization. This structure supports transparent pay practices and easier alignment of offers and adjustments with your compensation strategy.
What features are included in BambooHR Compensation Management?
BambooHR includes compensation benchmarking, compensation planning, cycle creation, budgeting and permissions, worksheets, currency conversion, notifications, compensation communications, approvals, Total Rewards, and customizable compensation plans. Together, these tools streamline everything from benchmarking to approvals.
How does Compensation Management work with the BambooHR platform and payroll?
It’s part of the BambooHR platform, creating a single, streamlined experience. You can reduce errors and save time by seamlessly syncing employee records, PTO, location changes, and benefits data with payroll. Time tracking, performance management, and compliance tools also connect in one cohesive system.
How does BambooHR support data-driven compensation decisions?
BambooHR helps you make informed decisions with integrated Mercer benchmarks, structured Levels and Bands, and planning tools like budgets, worksheets, and approvals. This combination supports fair, competitive pay aligned with industry standards and your compensation strategy.
