SimplyMerit is a compensation management tool offered by MorganHR. It is designed to help companies manage and distribute employee bonuses and merit-based pay raises. The platform allows managers to easily create and distribute merit increase templates, set budgets, and track progress throughout the process.
One of the key features of SimplyMerit is its flexibility. The platform can be customized to fit the specific needs of a company, including the ability to set different merit increase percentages for different job levels or departments. This allows managers to ensure that their employees are being fairly compensated based on their performance and contributions to the company.
Another key feature of SimplyMerit is its ability to streamline the compensation management process. The platform automates many of the tasks associated with distributing merit increases, such as calculating the new salary for each employee and updating their records in the HR system. This can save managers a significant amount of time and effort, freeing them up to focus on more strategic tasks.
Additionally, SimplyMerit also provides an easy-to-use analytics dashboard which allows managers to see the overall compensation spend, average merit increase percentage, and more. This allows managers to make data-driven decisions when it comes to compensation and budgeting.
Overall, SimplyMerit is a comprehensive and user-friendly compensation management tool that can help companies more effectively manage and distribute merit-based pay increases. Its flexibility, automation, and analytics capabilities make it an ideal solution for companies looking to streamline their compensation management processes and ensure that their employees are being fairly compensated.
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