Toronto, CANADA, March 4, 2020 – Compensation management software company CompTrak announces today the launch of its Comp Conscience module with the purpose of giving organizations the tools and data they need to actively acknowledge, measure and normalize pay disparities at their source.
Organizations that are seeking to do more than just express corporate platitudes on programs promoting diversity and inclusion need to demonstrate initiatives that have metrics of accountability for opportunity and change at their foundations.
As compensation decisions are made, CompTrak’s Comp Conscience module provides real-time insight into how those pay actions will affect change across the organization. By establishing awareness and introducing a pulse at each decision, pay equity discrepancies can become more actionable and a part of well-established processes of any organization, regardless of size.
CompTrak also seeks to simplify the process of rewarding teams that perform exceptionally by providing decision-makers with the insight they need to issue compensation accordingly. This includes:
- Data visibility at point of decision
- Customizable rules/guidance that reflect the nature of your governance
- Automated workflows/notifications to engage
- Executive reporting, Drill-down LOB reporting, directional dashboard
- Layered target management
By making pay equity integral to the fabric of compensation programs at an organizational level, CompTrak seeks to help companies endeavour to become more than profitable and come to embody a culture that is fair and inclusive while attracting talent that embraces the same qualities.
“CompTrak’s Comp Conscience module was born out of companies requesting a solution to address pay equity at each compensation action in real-time. Organizations needed a way to prevent disparities from being amplified in the long run.” Says Chris Jackson, VP Client Development at CompTrak. “Where most D and I program tactics are episodic and awareness oriented, true change can be gauged and motivated through compensation dynamics. Comp Conscience brings diversity awareness and goals to the organizational layers that can instigate change – for managers making compensation and hiring decisions where they can see the real-time impact on pay equity. For Executives, we have introduced roll-up LOB accountability multipliers that can be incorporated into variable bonus compensation .”
Maximize the Value of Total Compensation
CompTrak’s compensation management platform provides organizations a configurable end-to-end solution to effectively manage base pay, incentive bonus, deferred compensation, and long-term incentives. Implemented globally across all major industries, CompTrak transforms your compensation cycle to maximize organizational performance, employee engagement and the value of total compensation, ensuring organizations are set-up to win the talent war.