beqom, provider of a cloud-based total compensation management solution, has announced a new release of its mobile app and Individual Pay Estimator, giving companies more flexibility to manage change and a remote workforce.
The beqom mobile app now gives employees the ability to see their performance results and estimate their variable compensation payouts based on a wider and more flexible range of key performance indicators (KPIs). The upgraded app gives companies the ability to tailor compensation plans to motivate employees and meet changing market conditions and to communicate the latest performance and rewards data to employees everywhere.
“Our customers today, more than ever, need the ability to adapt their rewards programs to new realities,” says Andy McFee, beqom Head of Product and Design. “And their employees need to be able to understand how their KPIs and rewards are changing, so that they know how to modify their behavior to maximize their compensation and meet company goals. Our enhanced Individual Pay Estimator lets employees see their new objectives and estimate how their performance against those objectives will affect their pay.”
Newly released performance KPI measures support the need for companies to adjust quotas and metrics in pandemic-affected markets. Employees can be measured on KPIs such as percentage achievements, target amounts, custom scales, and more. For example, for a company that has realigned its salesforce to focus on customer retention rather than trying to hit unrealistic sales targets when budgets are shut down, the beqom app can use a KPI like customer satisfaction. A production team that has shifted focus to developing skills rather than cranking out widgets during low demand, may now be measured whether or not they have attended the requisite training courses.
“Flexibility in compensation design is always important,” according to beqom Head of North America, Vismay Gada, “but now during the pandemic it is critical that companies can change course quickly, and there is no better way to do that than to change peoples’ incentives. With any change, transparency is key to educate and motivate workers to achieve new corporate objectives when their goals and targets are adjusting quickly, and our mobile app ensures every employee can have access to this information wherever they are located.”
beqom provides the total rewards management platform for many of the world’s largest enterprises, including PepsiCo, DHL, BNP Paribas, and Adecco. Learn more about how beqom supports agile total rewards management.