Workscape Named "Hot Vendor" in The Ventana Research Value Index: Total Compensation Management 2009

Mon Jul 6, 2009 11:30am EDT
 
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  MARLBOROUGH, MA, Jul 06 (MARKET WIRE) -- 
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.

    



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