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Functionality Description

Version: July 2023

Table of Contents

1. Overall Description

2. Compensation Management Solution

3. Continuous Performance Management Solution

4. Scopes Overview

5. Description of Functionalities

6. Languages

 

 

1. Overall Description

  1. The beqom solution is a software solution dedicated to the unified management of all compensation processes and of continuous performance. It enables Client to manage, on the Platform, business processes related to: 
    1. Compensation management, including (i) short term performance-based incentives such as commissions or bonus management, (ii) long term performance-based incentives such as shares, stock options or long-term cash incentives; (iii) salary reviews and any kind of benefit and recognition programs; (iv) employee and managers dashboard view.
    2. Continuous performance management including (i) performance reviews (ii) feedback (iii) goal management (iv) check-ins (v) 360 surveys.

2. Compensation Management Solution

  1. A single unified logic and a common approach governs the implementation of these processes by modelling the following components:
    1. Hierarchical Relationships and Populations
      • beqom integrates existing hierarchical relationships and organization structures, and also allows the creation and modelling of additional hierarchy trees and assignments. In addition to hierarchies, populations can be defined based on any criteria and combination of attributes. These populations serve as the basis for eligibility and assignment to different compensation processes and plans.
      • The combination of hierarchy trees and populations determines which person will be visible to whom and can be assessed by whom e. g. the managers overseeing pay raises or allocation of stock options to payees.
    2. Compensation Processes
      • A Compensation Process is set-up to manage targets and achievement of incentive plans, or allocate budgets according to corporate guidelines and approval processes across the organization.
      • It allows you to retrieve and manage data based on different performance indicators for a given group of people and for defined periods.
      • Each compensation process is typically defined by:
      • Indicators: a set of key performance indicators which can be a combination of individual, team or group objectives, quantitative/qualitative targets, allocation fields, with free data entry options or linked to achievement rules and corporate guidelines.ules: rules are used to evaluate individual, team or group objectives against compensation criteria during runtime. For each record in the database that meets the criteria, a calculation will be launched.
      • Validity periods and repetition: each process is linked to a validity period. This period specifies the start date and end date of the process.
      • Populations: a population is a group of people with common attributes. Populations are built using filters based on single or multiple criteria (such as job, department, division, country, etc.). The assignment of populations to a process determines their eligibility to the plan..
      • Workflow: workflows ensure that tasks are fulfilled in the right order, for instance validation of the target set or achievements, evaluations, proposed pay raises or allocation of bonuses and stock-options according to necessary approval steps.
    3. Information Collection
      • For many processes, the values corresponding to the indicators mentioned above do not exist in underlying information systems. beqom therefore enables the collection of any data directly in the compensation solution via grids and forms, according to process steps, workflows and access rights.
    4. Rule Definition
      • The rule definition engine is one of the core components of the beqom solution. Data gathered through different processes or uploads is processed to calculate achievement and compensation values considering multiple criteria defined in the rule engine.
      • Rules for earnings, payments, commission processes, budgetary allocation, exceptions and recommendations linked to salary review processes, bonus processes, stock option grants, lapses, and exercises are defined with the rule editor and can be set up with free criteria selection and multiple algorithm definitions.
    5. Reporting & Analysis
      • The beqom solution includes a set of reporting and analysis instruments for standard, ad hoc or advanced reporting to analyse the information present in the compensation database, at any aggregation level and in real time. A large array of analyses can be derived using state of the art, integrated business intelligence tools – for individual, collective, management reporting, financial reporting, sales analysis, audit reporting, consolidated reports by country/division, actual vs, budget for bonus/salary increase, historical analysis or comparison, etc. Through these reports, each user can view information specific to their level within the organization, in accordance with their profile.
    6. Communication
      • The beqom solution’s communication and notification capabilities allow the management  of a variety of personalized or collective information targeted at people inside or outside of an organization. Notifications, documents or reports, including corporate guidelines, bonus letters, payee total compensation statements, can be published and addressed to all relevant populations or individuals and made accessible via web, mail or mobile devices.
    7. Simulation
      • The beqom solution offers a tool to create, save, compare and publish simulation scenarios out of one screen according to different parameters, associated rules and populations. For example, the cost of a compensation strategy for an individual or group of people can be simulated and compared to other simulations. The result of the compensation simulation is displayed in  visual form once the simulation has run. The result shows simulated values against the original compensation model.

3. Continuous Performance Management Solution

  1. The Continuous Performance Management solution enables Client to manage, on the Platform, client-specific business processes related to:
    1. Feedback
      The CPM platform enables users to offer and receive feedback to and from their colleagues within their organization, as a private interaction or as a public statement visible by the recipient’s team or the organization at large, depending on the configuration of the platform. Feedback encourages communication between the various entities of a company and helps employees pinpoint behaviors that are valued, as well as potential areas of growth.
    2. Agile Goal Setting
      One of the key features of the beqom Continuous Performance Management solution is the possibility to assign goals at individual, team or organization level. Whether they are company goals, personal goals or development goals, goals defined within the platform help drive behaviors toward established, clear objectives, for a better view of the strategic achievements to be fulfilled.
    3. Performance Reviews
      The CPM solution enables companies to manage and track the performance of their employees within a single system. This process includes the scheduling of employee-manager check-ins during which behaviors encouraged by the company are reviewed and compared against the actual performance of each employee,  as well as employee self-reviews and manager reviews of their direct reports. The performance review process can be tailored to the individual needs of each organization, thus ensuring a consistent performance review process across the organization, while cultivating the employee-manager relationship by ensuring that constructive and performance-driven conversations are regularly held.
    4. Surveys and coaching dashboards
      • Another key feature of the beqom Continuous Performance Management solution is the possibility to create surveys and coaching reports. Both targeted at employee growth, they each give unique insights to or about individual employees.
      • Surveys are insight gathering campaigns that enable HR professionals to gain an unparalleled view of how the teams, their performance and their involvement,  are perceived in the organization.
      • Tailored to each employee, the coaching report is a collection of information aiming at increasing the self-awareness of employees. A configurable visual dashboard, it can include statistics regarding received feedback, behavioral patterns, coaching notes, tips, an overview of goals, etc. and helps individuals keep track their tasks and objectives within the system.

4. Scope Overview

  1. Total Compensation Management Platform
    The Total Compensation Management platform is organized around the following:
    1. beqom Engine, including simulation, modelling, budgeting, benchmarking and analysis. The beqom Engine is the baseline of and is required for the following operations:
      • Salary Review
      • Bonus management
      • Long-term incentive management
      • Sales incentive management
      • Benefits data management
      • Continuous performance management
    2. Advanced Analytics and the Mobile Apps are optional add-ons.
  2. Continuous Performance Management Solution
    The continuous performance management solution is organized around the following:
    1. Core application features, namely
      • Feedback
      • Goals
      • Coaching Report
      • Team dashboard
      • Check-ins
      • Reviews
      • Surveys
      • Behaviors
      • Company Network
    2. Additional features are available as add-ons, namely
      • External participants in 360 surveys
      • Microsoft Teams plugin

5. Description of Functionalities

  1. Beqom Engine
    1. Product components
      • Hierarchical Relationships and Populations – Organization and Populations components
      • Compensation Processes- Design and Process components
      • Information Collection - Data component
      • Security Manager – Roles and Access Rights
      • Rule Definition - Rules component
      • Reporting & Analysis - Analysis component
      • Communication - Inbox component
      • Simulation - Simulation component
    2. Platform components
      • PMC Application (Platform Management Centre)
      • Passport (SSO)
    3. Technology components
      • Logging
      • Security
      • Performance
      • Integration
      • Other Services (Cube, Cognitive, etc.)
  2. Salary Review
    1. Manage a multi company, multi-division, multi-currency, multi-language application
    2. Define cluster of employees
    3. Analyse existing salary distribution (current and history) and benchmarks (internal and external)
    4. Employee performance calibration
    5. Set up of different merit increase policy
    6. Simulate and optimize costs connected to the different scenarios
    7. Manage management approval of proposed merit increase
    8. Create merit salary increase employee letters
    9. Export final salary data to core HR and/or payroll systems
  3. Bonus Management
    1. Manage a multi company, multi-division, multi-currency, multi-language application
    2. Define specific cluster of employees
    3. Set up compensation plans
    4. Simulate the cost of plans versus budget
    5. Manage communication to employees
    6. Calculate bonus
    7. Analyse and report 
    8. Export final bonus data to payroll system
  4. Long Term Incentive
    1. Manage a multi company, multi-division, multi-currency, multi-language application
    2. Define cluster of employees
    3. Define different LTI instruments, with vesting amounts and schedules
    4. Create LTI campaign by cluster of employees
    5. Link assignment to performance
    6. Simulate and compare LTI cost with assigned budget
    7. Calculate LTI employee earning and simulate based on current or future values entered
    8. Analyse and report
  5. Sales Incentive Management
    1. Manage a multi company, multi division, multi-currency, multi-language application
    2. Define specific cluster(s) of employees, dealers, agencies
    3. Organization management
    4. Set up alternative commission plans
    5. Simulate commissions plan cost
    6. Manage target setting
    7. Manage sales performance
    8. Calculate commissions
    9. Undertake analyses and create standard reports
    10. Export final bonus data to payroll system
  6. Benefits Data Management
    1. Support a multi company, multi division, multi-currency, multi-language application
    2. Define eligible populations
    3. Define collaborative benefit approval and freezing process
    4. Creation of benefit summary statements by population and by individual
  7. Continuous Performance Management
    1. CPM engine
    2. Platform components
    3. Technology components
    4. Define a feedback process for the organisation
    5. Configure goal management frameworks; with creation, assignment, alignment capability
    6. Create  check-ins
    7. Configure, define and manage  performance reviews
    8. Create, and manage 360 surveys and reports
    9. Deliver coaching dashboards to managers and employees

6. Languages

  1. The following  languages are available as standard (depending on the module):
    • English
    • German
    • French
    • Italian
    • Spanish
    • Portuguese (Brazil and Portugal)
    • Polish
    • Chinese (simplified)
    • Chinese (traditional, Taiwan and Hong Kong)
    • Japanese
    • Russian
    • Turkish
    • Korean
    • Hungarian
  2. Additional languages can be purchased separately