.jpg)
Compensation management in the financial services sector involves highly complex structures like carried interest and long-term deferrals, requiring specialized tools. HRSoft, a provider of enterprise compensation software, has joined the Workday Partner Program and launched a Workday Designed Approved integration, extending the Workday ecosystem with solutions tailored for these intricate needs.
HRSoft has joined the Workday Partner Program as an Innovation Partner and launched a Workday Designed Approved marketplace app.
The integration connects HRSoft's compensation lifecycle platform with Workday Human Capital Management (HCM).
It specifically addresses financial services industry challenges, such as managing carried interest, long-term incentive deferrals (LTIM), and global variable pay.
Key benefits include automating complex calculations, streamlining audit-ready governance, and providing unified visibility between compensation, performance, and financial data.
The platform supports multi-currency modeling and global pay governance to reduce administrative complexity across jurisdictions.
The partnership aims to help organizations align pay with performance, improve retention, and enhance operational efficiency.
Financial institutions operate under unique and stringent compensation requirements. Managing intricate plans like carried interest, performance-linked bonus pools, and multi-year deferral programs involves complex calculations, strict compliance controls, and detailed audit trails. HRSoft's integration with Workday HCM is designed to bring automation and precision to these processes, reducing manual effort and the risk of errors.
The platform integrates deeply with Workday's data foundation, allowing compensation teams to automate workflows for deferral management, vesting schedules, and complex incentive calculations. This ensures governance and compliance are built into the process, providing the control and transparency that financial regulators and internal auditors require. “Financial-services organizations face some of the most sophisticated compensation requirements in the world,” said Joe Poxson, CEO of HRSoft. “By partnering with Workday, we’re helping enterprises manage deferrals, incentive pools, and global pay governance with confidence and control.”
As a Workday Innovation Partner, HRSoft's platform extends the core HCM system with specialized compensation intelligence. The integration delivers several critical capabilities for enterprise-scale organizations:
Unified Data Visibility: It creates a single source of truth by connecting compensation data directly with performance metrics and financial data within the Workday ecosystem.
Intelligent Automation: The platform automates the management of deferrals, vesting events, and carried-interest structures, applying business rules and compliance controls consistently.
Global Scalability: It supports complex global variable pay programs and multi-currency modeling, simplifying compensation planning for workforces spread across different regulatory jurisdictions.
Strategic Planning Tools: By providing data-driven insights and modeling capabilities, it enables compensation professionals to design plans aimed at improving retention, engagement, and overall business performance.
The partnership represents a move towards more integrated and intelligent compensation management systems. Rather than relying on disparate spreadsheets and standalone systems, the combined solution embeds sophisticated compensation logic directly within the core HR system of record.
“This integration redefines what modern compensation technology looks like,” said Alex Miklin, SVP of Industry & Technology Solutions at HRSoft. “By combining Workday’s trusted data foundation with HRSoft Intelligence, we’re bringing automation and insight to carried-interest structures, global bonuses, and deferral programs — delivering precision and control at enterprise scale, without the complexity.” For financial services organizations using Workday, this integration offers a path to modernize a critical but cumbersome business function, aligning compensation strategy more closely with performance and regulatory demands.
About HRSoft
HRSoft is the pioneering force in compensation lifecycle management software, delivering Intelligence for the Next Era of Compensation through an unmatched portfolio of compensation-focused solutions designed to simplify and optimize intricate compensation management. With a steadfast commitment to innovation, HRSoft empowers organizations to leverage advanced technologies that drive performance and enhance their competitive advantage.
TechIntelPro empowers B2B technology decision-makers with the latest industry trends, deep insights, leadership perspectives and actionable intelligence to drive both organizational and professional milestones—and thrive on the tech pulse.