Product Quick Facts
About HCR CompensationXL
CompensationXL is a compensation management software that automates the traditional process for planning employee compensation. It makes the process simpler and more efficient. One company that benefited from the implementation of CompensationXL is the global materials manufacturer Cabot. The company needed a better way to process base pay, equity, and incentive compensation for 4,400 employees spread across 18 countries. Their old method was labor-intensive and involved hundreds of spreadsheets and emails. Eventually, it became unwise to continue this method, and the company adopted CompensationXL to meet their compensation planning needs. Cabot’s regional HR managers took a simple two-hour training class to familiarize themselves with the compensation management software. Afterward, they provided the same training to managers in a one-hour course. Since the software used spreadsheets they were already familiar with, the learning process was easy. This was the biggest advantage of CompensationXL for Cabot. Its compatibility with Excel provided a seamless transition between the manual process managers were used to and the new automated process.
HCR Software is the company that designed this salary management software. It is privately held and has an office in Jacksonville, Florida. The company was founded in 2006.
(Last updated on 02/02/2022 by Jonathan Ward)