Global automotive leader Faurecia, a beqom client since 2009, when beqom was launched, is celebrating 10 years of successfully managing variable pay for its 4,500 executives worldwide.
Faurecia is a global leader in automotive technology, employing over 110,000 people worldwide in 35 countries, with revenue of €17 billion. One in three vehicles in the world contains Faurecia technology.
“If there were only one word to describe the beqom solution, it would be flexibility, because flexibility has been demonstrated ever since the initial implementation,” reflects Bérengère de Lestapis, VP, Compensation and Benefits, Faurecia. “beqom has adapted to all our current needs as it will to our future needs, since with every change of requirements, the tool has been able to adapt.”
A decade ago, the process of managing variable compensation for Faurecia’s executives was challenging, owing to differing regulations and requirements across geographies and markets. The intricacies that come with global compensation management, such as handling employee mobility and expatriate pay, as well as the sophistication of Faurecia’s variable pay model, which includes many hundreds of different metrics designed to reward the behaviors that align with company strategy and drive performance, were straining the company’s compensation processes.
“beqom allows us to have a wide scope in organizations, in countries, in means of calculation, or even in the creation of populations we want to design something special for,” explains Nadine Evrard, Group Compensation and Benefits Manager, Faurecia. “The solution represents a big advantage for administrators, as it ensures that at all times we have the right people in the tool and the reports we need. It’s our only reference tool for managing variable pay.”
“Faurecia has always been an innovator, which explains why they were an early adopter of beqom ten years ago,” says Emmanuel Frenck, beqom Head of EMEA South. “We’re happy that the beqom solution could satisfy their sophisticated requirements, and adapt over time as Faurecia has grown.”
Read Faurecia's customer success story.
Founded in 1997, Faurecia has grown to become a major player in the global automotive industry. With around 300 sites including 46 R&D centers and 122,000 employees in 37 countries, Faurecia is now a global leader in its four areas of business: Seating, Interiors, Clarion Electronics and Clean Mobility. Faurecia has focused its technology strategy on providing solutions for “Cockpit of the Future” and “Sustainable Mobility”. In 2018, the Group posted sales of €17.5 billion. Faurecia is listed on the Euronext Paris stock exchange and is a component of the CAC Next 20 index. For more information, please visit www.faurecia.com.