Buying Options When Purchasing Total Compensation Statement Software

Today, a simple online search will turn up a number of companies claiming to offer you the best solution for producing total compensation statements. While some of these solutions offer a few nice features, many lack the basic functionality required to produce a truly useful total compensation statement. When you’re considering  total compensation statement software, use this checklist to make sure it has the features that matter most to you.

Is Total Compensation Statement Software Easy to Use?

You don’t have the time, money or Computer Science degree necessary to effectively use many compensation statement solutions. To get the best return on your investment, take a close look at a couple different solutions and choose the one that is easiest to understand while still offering robust features. Most compensation software solutions will provide a demo or a sample — make sure you look closely at each and compare the products before making a purchase.

How Much Can I Customize Employee Benefit Statements?

You should be able to customize as much as you want. Simple, “free” software for creating reports may not be flexible enough to provide real value to employers. Make sure the solution you choose allows you create custom reports for every employee in your company; otherwise, your incomplete statements could end up doing more harm than good.

How Secure Is It to Use Total Compensation Statement Software?

If you can’t verify that a total compensation statement software is 100% secure, then you need to move on immediately. You don’t need the headache of dealing with leaked employee information due to insecure online software.

Does the Software Include Pre-Loaded Benefit Ideas?

Pre-loaded benefit fields in a software solution can help you remember that you not only offer 401(k) and dental insurance, but also benefits like free parking, tuition reimbursement and weekly lunches. These more obscure perks can really add up and make a huge difference to your employees.

Can I Quickly Upload Data Using Compensation Reporting Software?

If you run a medium to large business, you may be dreading the task of entering information on every single employee into a reporting program. If you run a larger company, look for total compensation statement software that allows you to import data directly from an Excel file.

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