beqom—the leader in cloud-based compensation management software—was recently recognized as a sample vendor of “Line Manager Comp Allocation Tools” in the 2022 Gartner® Hype Cycle™ for Human Capital Management Technology1.
beqom provides a total compensation management platform that streamlines compensation processes for Global 5000 customers, impacting every employee in an organization. beqom’s solution integrates with core HCM systems to enable competitive, fair, inclusive, and effective compensation strategies.
As defined by Gartner, line manager comp allocation tools are used by line managers “to recommend salary changes, assess and award employee annual merit increases, and allocate bonuses and equity based on policies and guidelines.”
These tools are important, according to Gartner, because “Direct compensation is a key element of most employers’ total rewards programs. Compensation allocation tools for line managers are deployed to enable more equitable and better-informed compensation decisions and outcomes.”
Gartner places the maturity of line manager comp allocation tools as “early mainstream,” with an estimated market penetration of 20% to 50% of the target audience. In beqom’s view, this suggests that while comp allocation tools are becoming the norm, many companies have yet to adopt them.
“We believe beqom’s inclusion in the report shows our solution is helping HR leaders solve complex compensation challenges to drive performance and employee engagement,” says Tanya Jansen, beqom co-founder and Chief Marketing Officer. “While the HCM suites typically are limited to distribution of basic compensation, beqom also handles planning, benchmarking, simulations, sales commissions, deferred compensation, executive rewards plans, and pay equity analysis. beqom enhances HCM suites by enabling companies to holistically manage their compensation strategy and tailor the optimum total rewards packages to motivate their teams.”
beqom provides process workflows to automate and track the various rewards processes in a company, and the simulation and analytic tools to enable accurate compensation forecasting and accruals. beqom’s mobile app gives employees the ability to track their targets, performance, and compensation—anytime, anywhere.
beqom’s total compensation cloud solution manages compensation and sales performance across industries for companies like PepsiCo, Lowe’s, DHL, Golub Capital, and Case New Holland.
For more such Updates Log on to www.hrtechcube.com
