Recruitmax, a global provider of technology and services for building great workforces, today announced the launch of Balance, a total compensation and rewards management application. Recruitmax Balance automates and streamlines the complex processes related to compensation planning, salary management and incentive management. With the new product customers can easily and efficiently determine salaries, equity, bonuses and other incentives that motivate the workforce.
Balance is an impressive and extremely comprehensive compensation management solution, said Derek Mercer, chief executive officer, Recruitmax. It’s unique in its ease of use, depth of functionality and integration with our product portfolio that helps customers differentiate themselves through their people.
Recruitmax Balance includes three integrated modules for compensation planning, salary management and incentive management. The application covers both focal and anniversary-based processes, allowing managers to effectively reward employees who have; met individual goals, helped their companies achieve broader objectives, or demonstrated outstanding skills and competencies. Recruitmax Balance is totally configurable, enabling customers to tailor fields, planning worksheets and business rules to meet their strategic needs.
Robust planning, modelling and analytical tools empower managers to make better decisions about budgeting. Other administrative and analytical tools help compensation specialists manage survey information, market-pricing, range-modelling, merit programme cost and design quantitative job valuing systems. With Recruitmax Balance, customers are better informed about the going rates for compensation and, as a result, can better recruit and retain employees.
Recruitmax Balance was designed as a stand-alone application, but integrates with the company’s award winning performance management product - Impact. Combined with Impact, Balance offers customers a comprehensive pay-for-performance system. Balance also integrates with other Recruitmax products including its flagship recruiting product, the Corporate Edition, and popular employee onboarding application - Aloha. Companies with compensation survey and market-pricing tools already in place can create their own tailored, total rewards management system by integrating Balance with other vendor applications.
In March 2005, Recruitmax acquired InfoTechWorks, a provider of compensation management software and consulting services. Recruitmax Balance includes functionality from InfoTechWorks’ suite of enterprise compensation products used by more than 80 large organisations.
The release of Balance comes on the heels of increased global demand for Recruitmax’s enterprise employee performance management product - Impact. Impact was released late last year and quickly received accolades when it won an overwhelming victory in the Performance Management Vendor Shootout at Human Resource Executive’s 7th Annual HR Technology Conference, held in October 2004.
For more information on Recruitmax Balance, please visit:
Recruitmax Launches Balance; Delivers Best-of-Breed Compensation and Rewards Management
New Product Brings Ease-of-Use, Industry Leading Functionality and Innovative Integration Capabilities to Compensation Professionals
