15Five Compensation is an all-in-one compensation solution powered by Comprehensive. Now, 15Five customers can bridge the gap between performance and compensation management— without a spreadsheet in sight!
In this article, you will learn...
Access and availability
📦 This feature is available in all pricing packages.
💰 This is a paid feature. Learn how to purchase and set up Compensation.
What is 15Five Compensation?
15Five Compensation, powered by Comprehensive, helps companies strategically leverage their biggest expense (compensation) to drive employee engagement, performance, and retention— without using a thousand spreadsheets! With 15Five Compensation, leaders can make efficient, transparent, and equitable compensation decisions at scale.
15Five Compensation helps you save time, avoid costly errors from spreadsheets, and increase alignment on pay decisions across HR, Finance, Executives, and Managers. And since it all lives within 15Five, you can tie your performance reviews and compensation reviews together to improve employee retention and ensure that your valuable compensation dollars are being spent effectively.
Key components
The following features are available in 15Five Compensation:
Run compensation review cycles leveraging 15Five performance data to make informed compensation decisions that reward strong performance and retain top talent.
Simplify the storage, editing, and sharing of pay bands from a single, reliable source-of-truth. See how employees compare against your pay bands to ensure consistency and fairness in compensation across your organization.
Gain a competitive edge by accessing real-time compensation data from over 5,000 companies. Stay ahead of industry trends and ensure your compensation strategy remains competitive.
Empower your employees with a holistic view of their complete compensation package, including the value of equity and benefits. Foster trust and engagement by providing a clear picture of their overall rewards.
How it works
Check out our walkthrough video below to learn more about how Compensation works:
Benefits
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Connect pay and performance: Unify performance and compensation data to ensure that pay adjustments are awarded fairly and top performers are retained.
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Save time and eliminate errors: Creating and managing dozens of spreadsheets to track compensation decisions takes valuable time away from running a better performance and compensation review process.
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Empower people leaders, while maintaining control: Having a single unified source for all compensation adjustments allows People and Finance leaders to enforce budget and provide centralized recommendations while involving people leaders in the process.
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Improve transparency: Foster trust and alignment in your compensation decisions by giving visibility to managers and providing total rewards transparency to employees.
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Achieve pay equity: Eliminate bias to ensure every employee is recognized and rewarded fairly, promoting engagement and retention.
Frequently Asked Questions (FAQs)
Compensation is a paid feature. You can purchase this feature by filling out this form and a member of our Sales Team will be in touch.
Once you've purchased 15Five Compensation, you can set it up by following these steps.
No. However, running a performance review in 15Five before running a compensation review allows you to collect performance ratings for employees, which can be pulled into the Compensation feature to help managers make informed compensation decisions that reward strong performance and retain top talent. As an alternative, you have the option to manually import performance ratings from outside of 15Five into Compensation.