Explore our incentive compensation management functionality to see how you can easily design your unique commission plan.
If you know how to use a spreadsheet, you will be familiar with CaptivateIQ from day one. We mirrored the syntax and taxonomy of spreadsheets so you can manage any commission plan with our compensation software without ever needing to hire costly consultants.
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Our logic-based modeling platform lets you set up any incentive compensation plan without the constraints of pre-defined templates. Import your employee data, set up your plan logic, and automate commission calculations on the fly.
Upload or connect your employee information and reduce data entry.
Define team hierarchies and reporting structures.
Connect sales pipeline and deal data in real-time to keep calculations up to date.
Set up quotas and targets so everybody knows how they’re measured.
Customize plan mechanics — SPIFs, accelerators, clawbacks, and anything else.
Clone plans and make necessary updates to quickly roll out new plans.
Our powerful data ingestion layer lets commission admins massage their data into a commission-ready state directly in our compensation management platform to save hours cleaning files ahead of time. With a library of pre-built formulas and tooltips, anybody can set up calculations with speed and confidence.
Choose from a library of Excel-like formulas including custom ones designed for commissions.
Quickly troubleshoot formulas with our built-in formula guide to reduce miscalculations.
Work off columns instead of rows to save time and errors referencing other data tables.
Connect multiple data worksheets to create unified data sets for more robust calculations.
Transform your data in any way without altering the raw source data.
Reduce legal risks by capturing every formula creation or change in our audit log.
Run and see your incentive compensation plan calculations across any rep, plan, and pay period in real time. Don’t wait until you finish building your plan to see the results. Our compensation management software's calculation engine runs dynamically so you can catch any potential errors on the fly.
Apply filters to see specific payouts for any employee, commission plan or payout period.
Timestamp the start and end of any commission for any individual to account for promotions or team changes.
Choose from over 75 global currencies to work with any region or market.
Provide your teams with real-time visibility into their commission earnings to keep them on track.
Run custom calculations using our formula library to track attainment, earnings, and any other metric.
Design rep statements using any data points from your commission plan to keep everyone aligned.
Compensation management is a term used to describe the processes and strategies businesses use to determine employee compensation structures that align with company goals, objectives, and budgets. Managing compensation often includes determining how much an organization should pay to retain current employees and attract new ones, what types of incentives they should receive, how performance will be measured and rewarded, and calculating the incentive compensation each period. Employers must also ensure their compensation practices comply with federal or state laws regulating wages and hours worked.
Compensation management is important for a company to attract and retain high performers, motivate teams to perform at their best, and remain competitive. By offering competitive wages and benefits, organizations can attract top talent while promoting a fair workplace where everyone is compensated based on their performance above all other factors. Compensation management plays a critical role in employee motivation by providing incentives to work harder and increase productivity, ultimately leading to greater organizational success. Finally, establishing a fair and compliant compensation system allows organizations to protect confidential compensation information, adopt relevant data privacy and security measures, and conduct annual audits.
The four principles of compensation management are internal equity, external competitiveness, market pricing, and cost containment. Internal equity refers to the concept that employees should receive pay commensurate with their level of contribution and experience. External competitiveness ensures that an organization's wages remain competitive with other organizations in the same industry or geographic region. Market pricing involves establishing compensation levels based on what other employers in the same industry pay for similar positions. Finally, cost containment controls total personnel costs to ensure they fall within predetermined budget limits.
Compensation management practices can be complex and involve factors such as industry norms, individual performance metrics, market competitiveness, internal fairness considerations (equal pay for equal work), budgetary concerns, etc. Good compensation management practices are essential to achieving strategic business objectives in today's competitive market. They often include:
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