How Financial Services Can Master the Compensation Cycle & Control their Greatest Operating Expense
Financial services institutions have unique challenges in planning and executing their HR compensation processes. With costs related to compensation totaling between 70 and 90 percent of their operating expenses, financial firms need a technology solution that is capable of managing their complex requirements.
Core HR talent suites don’t support compensation management at the level of sophistication required and have proven to be too restrictive to cater to financial institutions’ highly individualized and requisite compensation processes. As a result, many aspects of the processes are handled through expensive workarounds, manual procedures, or compromises.
Most complex financial services compensation cycle processes can be mastered and made vastly more efficient, accurate, and secure while lowering risks and providing the transparency and process controls required for regulatory compliance.
In this session, we’ll demonstrate how beqom’s total compensation technology can help even the most complex financial enterprises lower costs, gain efficiencies, better execute compensation strategy, and deliver a competitive advantage in talent management. We’ll also explain how beqom works easily alongside your existing HRIS landscape.
In this demo, you’ll learn:
- How beqom’s total compensation technology can help dramatically improve operational efficiency, lower costs, enable execution of business strategy, aid in attracting and retaining talent, and support regulatory compliance.
- How the most complex financial enterprises get the digital compensation transformation right, without compromising on strategy.
- How beqom works seamlessly alongside your existing HRIS landscape, finance, and sales production systems.
- The realized cost benefits in implementing compensation technology.