TalentComp Reviews & Pricing

by CWS Software | Founded 2001, Binghamton, NY

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What is TalentComp?

Industry Specialties: Serves all industries.

TalentComp assists managers and HR professionals by streamlining the entire compensation process. Digitalize workflows, eliminate the need for physical documentation and allow users to visualize all payment data in one place. Increase communication with employees and aid retention with generated rewards statements. Empower management to make knowledgeable decisions with real-time data.

Capable of cloud-based and on-site deployment, it is suitable for businesses of all sizes and is scalable for growth. Access it from anywhere on compatible browsers and mobile devices. Data is kept confidential on secure servers in SSAE 16 Type II SOC 2 audited data centers.

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User Sentiment

Based on 33 reviews:

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TalentComp Pricing

Based on our most recent analysis, TalentComp pricing starts at $60 (Monthly).

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Starting From: $60
Pricing Model: Monthly
Free Trial: No

Training Resources

TalentComp is supported with the following types of training:

Documentation
In Person
Live Online
Videos
Webinars

Support

The following support services are available for TalentComp:

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

TalentComp Benefits and Insights

Why use TalentComp?

Key differentiators & advantages of TalentComp

Enhanced Efficiency: TalentComp streamlines compensation management processes, automating tasks like salary adjustments and bonus calculations, saving HR professionals valuable time.
Improved Accuracy: By automating calculations and minimizing manual data entry, TalentComp reduces the risk of errors in compensation data, ensuring greater accuracy and compliance.
Data-Driven Insights: TalentComp provides robust reporting and analytics capabilities, enabling HR teams to gain insights into compensation trends, identify pay gaps, and make informed decisions about compensation strategy.
Increased Transparency: TalentComp promotes transparency by providing employees with self-service access to their compensation information, fostering trust and engagement.
Enhanced Compliance: TalentComp helps organizations comply with complex compensation regulations and reporting requirements, mitigating legal and financial risks.

Industry Expertise

TalentComp is a cloud-based compensation management software designed for HR professionals in mid-sized to large businesses. The software helps automate and streamline the compensation planning process, including salary benchmarking, merit increases, and bonus payouts. TalentComp also offers tools for performance management, employee engagement, and succession planning.

TalentComp Reviews

Average customer reviews & user sentiment summary for TalentComp:

33 reviews

96%

of users would recommend this product

Synopsis of User Ratings and Reviews

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

Pros

Compensation Planning: TalentComp simplifies the process of creating salary structures and managing merit increases, promotions, and bonuses. The platform allows for easy modeling and analysis of compensation scenarios, ensuring alignment with company budgets and market competitiveness.
Performance Management: TalentComp facilitates the alignment of employee performance with compensation decisions. The platform enables performance reviews, goal setting, and feedback mechanisms, providing a holistic view of employee contributions and their impact on compensation.
Data and Analytics: TalentComp offers robust reporting and analytics capabilities, empowering HR professionals with insights into compensation trends, pay equity, and workforce demographics. The platform's data visualization tools aid in identifying areas for improvement and making data-driven compensation decisions.
Compliance and Governance: TalentComp helps organizations adhere to complex compensation regulations and internal policies. The platform provides tools for managing pay equity, ensuring compliance with minimum wage laws, and tracking employee certifications and licenses.

Cons

Steep Learning Curve: The platform's complexity can overwhelm new users, requiring extensive training and support to navigate its features effectively. This can lead to frustration and delays in implementation, especially for organizations with limited HR resources.
Customization Challenges: While TalentComp offers some customization options, it may not be flexible enough to accommodate the unique compensation structures and workflows of all organizations. This can result in workarounds or compromises that limit the platform's effectiveness.
Integration Issues: Integrating TalentComp with existing HR systems and payroll platforms can be a complex and time-consuming process, potentially requiring significant IT involvement and custom development. This can hinder data flow and create challenges in maintaining data consistency across systems.
Reporting Limitations: Some users find the reporting capabilities of TalentComp to be limited, lacking the flexibility and depth needed for comprehensive compensation analysis and decision-making. This can make it difficult to gain insights into compensation trends, identify pay gaps, and track the effectiveness of compensation programs.

Researcher's Summary:

TalentComp receives praise for its user-friendly interface and intuitive design, making it easy for HR professionals to navigate and manage compensation processes efficiently. Users appreciate the platform's flexibility, allowing them to customize compensation plans and workflows to align with their organization's unique needs. The robust reporting and analytics capabilities provide valuable insights into compensation data, enabling data-driven decision-making. However, some users note that the initial setup and configuration process can be time-consuming, requiring careful planning and attention to detail. Additionally, while TalentComp offers a comprehensive suite of features, it may lack certain advanced functionalities found in some competing products, such as predictive analytics or AI-powered recommendations.

TalentComp stands out for its strong focus on compliance and data security, ensuring that sensitive compensation information is protected. The platform's integration capabilities with other HR systems streamline data flow and reduce manual data entry. TalentComp is particularly well-suited for mid-sized to large organizations with complex compensation structures and a need for a robust and scalable solution. Its user-friendly interface and comprehensive features make it an ideal choice for HR teams seeking to improve efficiency and accuracy in their compensation management processes. Please keep in mind that software is constantly evolving, so it's always a good idea to check for the latest information and updates.

Key Features

Add additional custom features for a fee.

Compensation Management: Create budgets and manage salaries, bonuses, promotions, merit and market-based increases, equity, stocks and RSUs. Streamline the awards process by providing one location for HR and managers to make recommendations, changes and approvals. Instantly make individual or company-wide changes. Consolidated review rollups will automatically reflect changes.
Performance Management: Use real-time data to conduct employee performance reviews based on results and adherence to custom guidelines. Quickly create and update rules across the company or for individual employees.
Statement and Report Generation: Instantly produce total rewards statements and other letters to provide employees a clear picture of their worth. Upload an unlimited number of templates to assist in generating statements and ad hoc analytic reports.
Real-time Customizable Dashboards: Create dashboards to give managers real-time data and calculations to make informed decisions. Users view only the information necessary to facilitate their responsibilities. Use up-to-the-minute data to monitor pool information and possible pay gaps or disparities.
Multiple Currencies: View budgets in any currency. Conduct employee reviews and provide statements in their local or preferred currency.
Multiple Languages: Available in multiple languages. Administrators can isolate words or phrases for preferred translations and automatically reflect those changes across the platform.

Limitations

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

Roll-up can be difficult, with some users noting they needed to denote changes independently and then update the information in the platform.
Users need to click out of a field before the data is updated or calculated.
The system struggles to incorporate complex equations and operators.