New York, US & Tel Aviv, Israel – 19 April, 2023: HiBob, the company behind Bob, the modern HR platform transforming the world of work was recognized by Ventana Research as a Leader in the Validation category and named a Vendor of Assurance in Ventana’s 2023 Total Compensation Management Value Index.
The Validation category assesses the ability of a vendor to support its customers through the journey of implementing total compensation management. Ventana Research evaluated HiBob’s customer journey across sales, onboarding, support, services, and examined the company’s product releases and roadmap.
HiBob received the third-highest ranking for Validation with an 83.1% performance. In addition, the company’s solution was ranked fourth in Customer Experience.
The Total Compensation Management Value Index evaluates the maturity of software vendors and products and their value for enterprise use in compensation management. Compensation management is a key talent management process that involves all workers and managers within an organization. Determining and providing the appropriate compensation for each person—whether it involves base pay, merit pay, or variable pay and incentives such as bonuses—is critical to attracting and retaining productive members of the workforce, including full- and part-time employees, contingent workers, and contractors.
Ronni Zehavi, CEO and Co-Founder of HiBob said: “I couldn’t be more delighted or proud to see HiBob recognized as a Ventana Value Index Leader in our company’s first ever evaluation by this prestigious research house. This award is a testament to our growth and increasing recognition in the market as well as our commitment to providing world class HR services to our customers worldwide. Getting compensation management right – first time – is essential for the success and longevity of both companies and their employees.”
HiBob customer TourRadar, an online travel marketplace and internet booking engine, uses Bob for annual compensation reviews based on insights from the performance talks also managed by Bob. The seamless approval process across all relevant stakeholders eliminates the complexity and frustration of the time-intensive Excel-based process they used before.
“Compensation plans have become quite complex, including a variety of monetary and non-monetary components that must be evaluated, tracked, and managed continuously to ensure pay equity and competitive relevance,” said Quincy Valencia, VP & Research Director, Ventana Research. “The Total Compensation Management Value Index is designed to replicate an organization’s RFI process to deeply examine a vendor’s ability to serve an organization’s vast compensation plan requirements.”
Ventana’s 2023 Total Compensation Management Value Index report evaluated solutions from ADP, beqom, Ceridian, HiBob, Infor, Oracle, Paylocity, Payscale, PeopleFluent, Salary.com, SAP SuccessFactors, UKG, Unit4, and Workday. The research-based index the technology providers and products on seven key categories: five were related to product experience, including Adaptability, Capability, Manageability, Reliability, and Usability. The final two categories were customer experience related: Validation and TCO/ROI.
HiBob is on a mission to transform how organizations operate in the modern world of work with its HR platform ‘Bob’. Leading the way for the future workplace, Bob offers resilient, agile technology that wraps all the complexities of HR processes into a game changing, user-friendly tool that touches every employee across the business.
Since 2015, trusted and empowered ‘Bobbers’ from around the world have brought their authentic selves to work, inspired to build the exceptional HR systems that will revolutionize the work experience for HR professionals, managers, and employees. Agile and adaptable, HiBob innovates through continuous learning loops to produce seismic cultural shifts for companies with dynamic, distributed workforces.
HiBob is used by more than 3200 multinational companies – including Cazoo, The&Partnership Monzo, Happy Socks, Fiverr, and VaynerMedia. Organizations using Bob are able to accelerate hiring, retain the best talent, upskill and elevate employee engagement.
For more information about HiBob, visit www.hibob.com.
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