• Fri. Aug 5th, 2022

beqom announces new module to support personnel and workforce cost planning

ByJulie J. Helfer

Oct 21, 2021

NYON, Switzerland – (COMMERCIAL THREAD) –to become, a cloud-based compensation management software provider, announced a new module to support personnel and workforce cost planning.

Compensation is often a company’s biggest expense, but large organizations still struggle to produce accurate compensation cost budgets and forecasts, especially since staffing levels and pay rates of employees. employees change during the year. Beqom’s personnel cost and workforce planning (SCHP) module enables human resources and financial planners to accurately calculate, budget and forecast changes in workforce and personnel throughout the year.

“Because compensation has such a big financial impact, it’s important to bridge the gap between finance and HR,” explains Sébastien Baehni, chief technology officer at beqom. “Our customers have requested a tighter integration between compensation planning and budgeting and business forecasting, so that’s exactly what this new module addresses. ”

Different budget versions can be created and compared in beqom, at employee or cost center level. Using a centralized compensation database ensures that all parties see the same data, so that HR, Finance, local and group managers are in sync.

Likewise, multiple versions of forecasts can be run throughout the year, using actual staff costs to date as well as new budget assumptions for the rest of the year. The SCHP module keeps the planning models up to date as employee compensation, staffing assumptions and open positions change throughout the year. The result is better budget control and a more accurate forecast of compensation costs.

beqom provides a dedicated compensation management solution to solve corporate compensation challenges by delivering process efficiency and flexible rewards management, on a global scale. beqom manages all forms of compensation and rewards, from general HR compensation to sales commissions and bonuses. beqom provides compensation functionality which goes beyond the capabilities of standard HR platforms and talent suites, resulting in an uncompromising approach to attracting, engaging and retaining talent through fair, transparent and competitive compensation.