Payroll and human resources management firm Ceridian has released Dayforce Compensation Management as the next step in the progression of its Dayforce HCM product.
Compensation Management plays a critical role in attracting and retaining key talent. In order to effectively attract and retain talent, leaders need the ability to reward people fairly and competitively. With Dayforce Compensation Management, organizations can more easily demonstrate factors impacting compensation decisions which can help address equitable pay issues, while at the same time providing transparency to enable leaders at necessary levels to make more informed decisions with greater efficiency. It supports leaders at all levels with the compensation and HR data required in their respective positions, while enabling collaboration with senior leaders to increase overall accuracy and align compensation decisions with the guidelines of the organization.
“Ceridian has transformed how organizations manage their human capital by replacing disparate systems with a single, robust application,” says David Ossip, Chairman and CEO, Ceridian, “Compensation Management is a logical continuation of that transformation. By including wider HR data in compensation processes, organizations can make better compensation decisions to support employee engagement.”
As part of the Dayforce HCM solution, Dayforce Compensation Management provides seamless transitions between compensation management and all other functions of the solution; making the solution a natural partner with performance management for organizations who reward people based on their actual contributions. In addition, by being part of the same solution as core HR and payroll, compensation changes instantaneously take effect without integrations, unlike other solutions in the market.
“Our research finds that nearly three quarters of organizations assign a high level of importance to having compensation functionality available to support their HCM processes,” says Mark Smith, CEO of Ventana Research. “By adding compensation to the Dayforce HCM application, Ceridian has provided its customers with the technology required to support effective hiring and retention of the entire workforce to achieve the best possible levels of employee satisfaction.”