beqom, a cloud-based compensation software provider, has developed the first plug-and-play dynamic Total Rewards Statements. With this release, beqom will offer cost-effective, best-in-class reports that show employees their true value, boosting retention and engagement. Organizations upload data from their existing HRIT landscape, without burdening IT or disrupting current technology or processes, and receive individualized, dynamic statements in a matter of hours.
Turnover is often due to an employee’s perception of whether they are appreciated or paid fairly. Research shows that only two in five workers think their employer has a compelling value proposition, leading to retention issues of top performing talent. The quest for a great employee experience is centered around a business need for long-term engagement, retention, and productivity.
By providing dynamic employee self-service reward statements for all employees globally, HR leaders can see a direct boost in employee engagement, increase the company’s competitive position as an employer, and generate immediate ROI for their digital HR transformation.
“Showing your employees all the ways you reward them can defend against voluntary attrition, and, unlike enterprise-wide systems that take years to implement, the total rewards statements can boost employee satisfaction in days, with statements that start at $0.21 per employee per month,” says Tanya Jansen, beqom CMO.
This latest release builds on beqom’s decade of experience in compensation technology and asserts beqom as the leader in total rewards management. Total Rewards Statements will enable organizations to immediately supercharge HR teams’ efficiency through automation and to give employees the pay transparency they want in an on-demand, always-on experience.
The beqom Total Compensation Solution has helped Capgemini, BNP Paribas, McDonald's, Pepsico, and Yellow Pages provide their employees with a global vision of all elements related to compensation and sales performance management. The platform currently manages $300 billion in compensation for more than three million users in 160 countries.