Visier Smart Compensation
Stay ahead of pay transparency laws with equitable compensation
Visier Smart Compensation, the next-generation compensation management solution that helps organizations to achieve pay equity with smarter and equitable merit based compensation.
- Simplify pay equity analysis to solve pay equity risk
- Maximize retention impact by projecting risk of exit
- Make the most effective use of merit increase budget
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Addressing the critical challenges from your compensation review
Achieve pay transparency goals with equitable compensation
- Address pay gap by identifying any exceptions on the salary band. Enable your organization’s compliance with pay transparency laws with fair and equitable pay.
- Simplify pay equity analysis for merit based pay increase, and identify pay disparities right in the midst of the pay cycle.
Prepare managers for better pay conversation
- Provide the historical context like job changes, salary changes, promotion which forms the foundation of an effective salary discussion.
- Increase managers competence and confidence in dealing with salary discussions, especially first-time managers, by understanding the likely expectations of the employees with pay history data.
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Unbiased pay decisions made easy for managers. Maximize the financial impact of merit pay decisions before even committing.
Drive retention of high performers and reduce turnover
- Retain top talent with impact analysis on how a merit raise or promotion impacts the risk of resignation as part of compensation strategy.
- Dedicate budget in the merit cycle to retain key talent in critical roles in your organization, and avoid turnover cost.
Make data-driven compensation decisions with people analytics
- Optimize allocated merit increase budget by recommending compensation adjustments to make impactful and equitable compensation decisions.
- Connect with people insights about performance, skill sets, retention and a 360-degree of employee lifecycle data including promotion.
Turn compensation philosophy into a reality that drive performance
- Support different types of compensation structures including pay-for-performance, by setting philosophy goals for each compensation review cycle that guides managers.
- Calculate merit salary adjustment automatically based on budget, in-scope population and compensation goals selected and track exceptions.
By comparing the turnover behavior of different groups at different rates of pay, we found evidence not only that it was possible to improve retention by paying more but also which groups might respond best and by how much.
Gary Russo
Executive director of workforce intelligence at providence