People-Trak HR software's Compensation Management offers a comprehensive way to keep track of your company's compensation. With Job & Salary History, you can track dates, rates, locations, divisions, departments, and salary grades. People-Trak computes and stores compensation ratios, percent-of-range, change amounts, and change percents. Finally, it also computes and stores pay period equivalents for a wide range of pay frequencies.
Frequencies include hourly, daily, weekly, biweekly, semimonthly, monthly, quarterly, semi-annually, and annually.
Saves time when recording pay rate events and ensures that all calculations are correctly updated. Take a group of employees and post a Cost of Living Adjustment by percent or fixed amount using the Batch by Rate feature or post mass individual salary increases using the Batch by Employee feature. Produces an audit trail showing changes recorded.
Allows you to set an alert by a specific date to notify you of future pay increases for your employees.
People-Trak's Statistics sub screen displays salaries equivalencies, such as hourly, daily, weekly, biweekly, etc. It also includes a graph to show how the employee has done compensation-wise since data of hire.
Other Compensation sub screen allows the tracking of pay outside the employee basic pay rate, such as bonuses, commissions, longevity pay, etc.
Use our HR software's powerful Report Writer to produce compensation information such as Average Last Change Percent, Average Salary by Department, Count by Pay Frequency, FTE Totals by Job Title, Highly Compensated Employees, Ranking by Amount of Last Change, Ranking by Percentage of Last Change, Reason for Last Change by Employee, Reason for Last Change by Reason, Salary Distribution by Age, Salary Distribution by Gender, Salary Equivalents for All Periods, Salary Grade Analysis, Salary History by Employee, Salary History for Employees Due Reviews, Salary List in Descending Order, Salary to Title History Comparison