Compensation Consulting & Software Company, BalancedComp, Rolls Out New App to Incentivize and Retain Banking and Credit Union Workers
WICHITA, Kan., July 12, 2023 /PRNewswire/ -- BalancedComp, an industry-leading compensation consulting company for banks and credit unions, is excited to announce the launch of its latest product, BalancedRewards. This innovative web application is designed to help financial institutions attract, incentivize, and retain employees by enhancing their total employee rewards proposition with a sophisticated, self-funding corporate incentive program that allows instant outcome assessment.
BalancedRewards is easy to use and supplements a more extensive suite of software solutions, including BalancedComp (Salary Administration) and BalancedResults (Performance Management). It is designed to tie pay with performance and enables every action taken across any of BalancedComp's three proprietary systems to be bulk-activated en masse.
This program also offers a range of tools and resources to help managers address retention risks. BalancedRewards includes a corporate goal library of recommended sales KPIs, weighted scoring tied to improving employee engagement and satisfaction, and a range of training and development resources to help leadership teams build stronger relationships with their employees. Its advanced data reporting features and the ability to measure the direct effects of an incentive plan based on true employee motivations and revenue-generating behaviors allow BalancedRewards users to predetermine a cost analysis for each desired outcome and quickly set who is or is not eligible. Furthermore, this program establishes shared visibility on performance and costs, creating an additional line of sight for employers and employees to see a granular view of how they can impact their bonuses.
To celebrate the launch of BalancedRewards in May, BalancedComp recently offered a free month-long trial to all existing BalancedComp and BalancedResults clients. Marking the first preliminary in-application user access trial for this salary compensation company in over a decade, it enabled full feature and reporting accessibility and empowered users to streamline the administration of their plans once built.
"We are thrilled to bring BalancedRewards to our partners," said BalancedComp CEO, Christie Summervill. "Our team has worked tirelessly to deliver an app that is both easy to use and serves an exceptional value to our clients, using data and expert HR methodology to answer the hard questions. We believe in leading by example and that BalancedRewards can help revolutionize a holistic approach to measuring total cash comp and performance management. We can't wait to see the impact it will have on the future of elevated corporate incentive planning."
About BalancedComp
BalancedComp is a leading expert provider in compensation design and workforce management solutions for the finance sector, providing best-in-industry consulting, web-based salary administration, performance management, and corporate incentive planning software with renowned processes that attract, motivate, and retain a talented workforce. Founded in 2010, this company has helped pave the way for hundreds of banks, credit unions, and other financial institutions to manage human capital and optimize employee engagement across the U.S. amidst an ever-changing industry. With a focus on elevating HR leadership, customer satisfaction, and product innovation, BalancedComp has become a trusted partner for businesses nationwide.
For more information about BalancedRewards, please visit here.
Contact
BalancedComp
Christie Summervill
Chief Executive Officer
[email protected]
SOURCE BalancedComp
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