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Workscape Named "Hot Vendor" in The Ventana Research Value Index: Total Compensation Management 2009
MARLBOROUGH, MA, Jul 06, 2009 (MARKETWIRE via COMTEX) --
Workscape, Inc., a leading provider of outsourced benefits and
talent management solutions, today announced its compensation
management solution, Workscape Compensation Planner, and the company
has earned top scores and 'Hot Vendor' rating in The Ventana Research
Value Index for Total Compensation Management. Among the ranked
vendors, Workscape topped the product usability, product reliability
and product manageability categories.
Compensation management is a key activity for mitigating corporate
risk while supporting workforce performance and talent management
processes. Determining and providing the right compensation for
employees -- as well as tying compensation to performance -- is
critical attracting and retaining top performers and ensuring maximum
productivity.
According to Ventana Research, two-thirds of end-user organizations
in their benchmark research said that having a total compensation
management system -- rather than piecemeal approach -- is important;
however, only 40 percent said they were confident or very confident
that their organization currently manages compensation processes
effectively. These results are consistent with other recent
compensation research, in which 34% of respondents stated their lack
of an automated compensation management solution meant days or weeks
would be needed to put together documentation supporting each
employee's compensation plan.
Workscape Compensation Planner enables customers to leverage a
single, comprehensive Web-based platform to plan salaries and short-
and long-term incentives in a choice of languages and currencies.
The company's powerful, configurable solution is unrivaled in its
ability to accommodate regional or global differences in compensation
plans without compromising strict corporate control.
Workscape Compensation Planner took the top position in product
usability, product manageability and product reliability. The
usability category's evaluation criteria included the extent to which
the product provides the support needed by each of the functional
roles involved in enabling total compensation management, i.e., for
executives, managers/directors, business and HR analysts, and
operations personnel. This category scored vendors on how much work
the vendor has put into the human interface aspects of usability.
Manageability evaluated how the products met business and IT needs
for installation, deployment and administration. Included in this
category were how sophisticated the security provisions are with the
respect to user identity and role and access; how effective the data
security provided by the application is; auditing and compliance
support; and what investments are required in licensing or
subscription and maintenance.
Workscape also earned top marks in the product reliability category,
which evaluated products' ability to deliver the performance and
scalability required. Also included in this category were product's
ability to support mobile and remote workers, and their depth of
development and customization capabilities.
Mark Smith, CEO and Executive Vice President of Research of Ventana
Research commented, "Ventana Research believes that an investment in
total compensation management is a strategic step towards improving
workforce performance as also found in our benchmark research. Total
compensation management is maturing and is poised to become a powerful
component of workforce performance management. Our Value Index is a
practical framework for RFPs and a structure to use when evaluating
vendors for this critical process and application. We congratulate
Workscape for going through the detailed company and product
assessment and being selected as a 'Hot Vendor' in the Value Index
for Total Compensation Management."
Workscape CEO Tim Clifford, said, "Intense regulatory requirements,
coupled with the increasing need to consolidate disparate processes
and systems onto one reliable enterprise solution, has made Workscape
Compensation Planner an integral part of best practice talent
management. Since the company's inception more than a decade ago,
Workscape has been continually enhancing the functionality and
usability of our leading compensation planning solutions. This is
validated by the extremely high satisfaction ratings we receive from
our clients as well as through the impartial and critical evaluations
of organizations such as Ventana Research. We're honored to have
earned such impressive scores in this company and product research
and look forward to driving innovation in this field for years to
come."
Copies of the Executive Summary Report of the Value Index for Total
Compensation Management can be downloaded at
http://www.ventanaresearch.com/tcmvalueindex
About Workscape
Workscape is unique in its ability and demonstrated domain expertise
in addressing the talent management, benefits administration and
employee communication challenges of hundreds of organizations and
millions of workers across the country and across the globe. For the
past decade, Workscape has been delivering Web-based software and
services that are proven to help organizations reduce healthcare
costs, improve adherence to compensation budgets and ensure alignment
between employee activities and corporate goals. As a result, our
employee-centric approach has consistently helped organizations to
achieve the highest return on their greatest workforce expenditures:
healthcare benefits and employee compensation. For more information
about Workscape, visit www.workscape.com or call 888-605-9620.
SOURCE: Workscape
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