Employee compensation plays an essential role in an organization’s effort to gain, retain, and manage the right talent for its workforce. When managed efficiently, compensation management can make all the difference in keeping employees motivated and performing well. Salary adjustments can be difficult to manage across departments and the organization. LightWork's compensation management software makes this process straightforward.
LightWork Compensation Management is an intuitive and powerful compensation management system for managing employee compensation. Integratable with any HRMS system, LightWork Compensation Management is customizable to your business needs, allowing you to spend more time on planning and tracking your budget, than dealing with excess paperwork.
Optional Salary Grades and Wage Zones can be configured within LightWork Compensation Management. They can also be incorporated into the initial budget and be a part of the available information for managers and approvers for each review, as needed.
While managing the compensation review process, managers can easily track any unused budget dollars and the budget for each employee, position, manager, and department.
Once reviews have been fully reviewed and approved, LightWork’s export process allows you to export the review content to your HRMS system, updating the employees’ related unit rate, pay period, and annual salary with the approved values. As part of this, LightWork generates an audit trail within your HRMS system by creating a standard job history record with the original information, as well as updating the relevant fields on the employee to track the last payment details.
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