SimplyMerit Reviews & Pricing

by MorganHR | Founded 2004, Deer Park, IL

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Overview Pricing Benefits Reviews Features

Categories:

What is SimplyMerit?

Industry Specialties: Serves all industries.

SimplyMerit streamlines and optimizes the compensation process by eliminating the need to manage dozens of spreadsheets and keeping all documentation in a single digital location. Reduce human error and incorporate all necessary information with premade templates. Monitor and track award allocations with real-time data and approve, modify or reject recommendations.

Manage multiple merit cycles and timelines. Generate employee rewards statements and reports. Set alerts to remind managers to complete approvals and update all stakeholders via automated emails. Automatically track every update made to budgets and plans to simplify future audits.

Pros

Easy to use
Affordable
Good support
Wide features
Integrates well

Cons

Limited reports
Not for large companies
Occasional bugs
Lacks some features
Limited customization

PRICE

COMPANY SIZE

DEPLOYMENT

PLATFORM

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SimplyMerit Pricing

Based on our most recent analysis, SimplyMerit pricing starts at $10,300 (Annually).

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Starting From: $10,300
Pricing Model: Annually
Free Trial: Yes, Request for Free

Training Resources

SimplyMerit is supported with the following types of training:

Documentation
In Person
Live Online
Videos
Webinars

Support

The following support services are available for SimplyMerit:

Email
Phone
Chat
FAQ
Forum
Help Desk
Knowledge Base
Tickets
Training
24/7 Live Support

SimplyMerit Benefits and Insights

Why use SimplyMerit?

Key differentiators & advantages of SimplyMerit

Improved compensation fairness and transparency: SimplyMerit promotes fair and unbiased compensation practices by providing clear data and insights into employee performance and market trends.
Enhanced employee engagement and motivation: By recognizing and rewarding employee performance, SimplyMerit helps create a more engaged and motivated workforce.
Reduced administrative burden for HR and managers: With automated workflows and streamlined processes, SimplyMerit frees up time for HR and managers to focus on strategic initiatives.
Better talent acquisition and retention: A competitive and transparent compensation program attracts top talent and encourages high performers to stay with the company.
Improved financial performance: By optimizing compensation spend and aligning rewards with performance, SimplyMerit can lead to significant cost savings and improved financial performance.
Data-driven decision making: SimplyMerit provides valuable data and insights that can be used to make informed decisions about compensation strategy, talent management, and workforce planning.
Increased confidence in compensation decisions: With greater transparency and data-driven insights, managers and leaders can make more confident decisions about compensation.
Improved communication and collaboration: SimplyMerit provides a platform for open and transparent communication about compensation, leading to better understanding and collaboration between managers and employees.
Enhanced company culture: By focusing on fair and transparent compensation, SimplyMerit helps create a more positive and rewarding work environment for employees.
Reduced risk of legal challenges: By ensuring compliance with legal and regulatory requirements, SimplyMerit helps companies avoid costly legal challenges.

Industry Expertise

SimplyMerit's industry expertise lies in providing comprehensive compensation management solutions to technology companies of all sizes. They possess deep understanding of the unique talent landscape and compensation challenges within the tech industry, enabling them to offer tailored solutions that help tech companies attract, retain, and motivate top talent.

Synopsis of User Ratings and Reviews

Based on an aggregate of SimplyMerit reviews taken from the sources above, the following pros & cons have been curated by a SelectHub Market Analyst.

Pros

Easy to use: Intuitive interface and simple workflows save time and effort.
Fairer compensation: Data-driven insights help ensure pay is fair and unbiased.
Engaged employees: Recognition and rewards programs motivate and improve morale.
Time-saving automation: Streamlined processes free up time for HR and managers.
Improved decision-making: Data-backed insights help make informed decisions about talent.

Cons

Limited reports: Lacks advanced reporting features for deeper insights.
Scalability concerns: May not handle large organizations efficiently.
Occasional bugs: Users encounter glitches and bugs sometimes.
Missing features: Certain desired functionalities are absent.
Limited customization: Less flexibility to tailor the platform to specific needs.

Researcher's Summary:

SimplyMerit is generally praised for its user-friendly interface, data-driven approach to compensation, and time-saving capabilities. Users report that it is easier to use and improves fairness and transparency in compensation compared to other platforms like Workday or Cornerstone OnDemand. Additionally, the automated workflows free up HR professionals' time, allowing them to focus on more strategic tasks. However, some users point out that reports lack depth and customization options are limited compared to competitors. Additionally, concerns around scalability and the occasional bug are mentioned. Overall, SimplyMerit seems to offer a strong value proposition for smaller companies or those seeking a simple and efficient compensation solution. However, companies with complex needs or large employee populations might find its limitations frustrating.

Key Features

Compensation Management: Guide managers through every aspect of the compensation management cycle, from configuring and establishing budgets to final approvals. Manage and oversee salaries, bonuses, merit increases, pools, promotions and other payment types. Prorate plans for employees hired mid-year. HR administrators can set and change guidelines to best suit the needs of the business.
Analytics: Leverage built-in analytics tools to identify biases, disparities, outliers and trends in payment.
Multiple Currencies: Calculate conversion rates and manage reward allocations in multiple currencies.
Information Templates: Speed up implementation and upload all necessary compensation information into the system with premade templates.
Report Generation: Automatically generate total reward statements and other reports for each employee.
Alerts: Set alerts and reminders to notify managers of upcoming approval and request deadlines.
Automated Communication: Automatically email individual reward statements and adjustment letters to employees. All managers or administrators can view every update or comment throughout the system, so long as their position in the hierarchy exceeds that of the author. Instantly notify impacted managers of each request approval, change or rejection.
Real-time Data: Provide managers with up-to-the-minute data to help them make informed decisions. Payments and award allocations are instantly updated to reflect how much of the allotted budget remains.
Security: Set permissions to ensure only approved users can see, change or upload data. Track every change made to each compensation process and timeline.

Limitations

At the time of this review, these are the limitations according to user feedback:

No ability to manually enter data into the system. Adding data to a template and then uploading the information makes small changes or updates a labor-intensive task.
Managers can’t freeze employee names when scrolling, resulting in having to scroll back and forth.
Fields can’t be locked. Administrators and managers can’t choose which fields are editable.
Managers can’t customize the emails generated and sent within the system.
No option to prevent managers from spending beyond their budget.

Suite Support

Email: [email protected]

Phone: (847) 719-9060

Training: Video tutorials, comprehensive written guides and a thorough FAQ section are available on the website. Provide Manager Experience-based Training sessions to teach managers effective communication practices regarding compensation.

Tickets: Information is not available at this time.