New Features: January 2024

By Jacqualyn Summervill

New Features: January 2024

This month, our release is focused on feedback we received while you, our clients, built your labor budgets and commenced the 2024 performance review process. We’ve added a few major features that will potentially revolutionize both processes!

NEW: Two new options for creating plans en masse
BalancedResults company admins often need to create plans for large groups of employees simultaneously, and we’re making it easier than ever before. Previously, you could only create plans based on your system’s position template content. However, we understand that the most up-to-date plan versions sometimes reside with the employees themselves, not in the position templates.

You can now create plans en masse with newfound flexibility! You can choose plan content from three sources: the position template, the employee’s most recently completed plan, or the employee’s active plan. This powerful feature empowers you to select the content that best suits your needs, ensuring that your mass-created plans are always aligned with the latest information.

NEW: Ability to email salary review statements to supervisors
We’re excited to introduce an enhancement that simplifies the rollout process of your salary review statements in BalancedComp. When you finalize your budget numbers and are ready to roll them out, in addition to the current option to email salary review statements directly to the employees, you can now email them directly to a supervisor for all their employees!

This update empowers supervisors to communicate these salary updates seamlessly to their teams, enhancing efficiency and reducing administrative steps. It’s a game-changer in making your salary review process more collaborative and responsive to your organization’s needs.

NEW: Ability to manage your own logo, primary contact, and billing contact
You can now manage your BalancedComp system’s logo, primary contact, and billing contact, putting the power directly in your hands! There is no need to rely on BalancedComp employee assistance anymore. It’s all about giving you the autonomy and flexibility to quickly tailor your system to your needs.

NEW: Ability to lock and unlock annual cycles
As a company admin, you now have the ability to lock and unlock Annual Cycles in BalancedRewards. This newfound control allows you to finalize all the ratings, lock the payout values, and seamlessly update employees’ incentive pay in BalancedComp in one fell swoop.

We also understand that sometimes changes are needed, or mistakes happen. That’s why we’ve also given you the flexibility to unlock the annual cycle for up to 30 days, enabling you to make necessary adjustments as circumstances evolve.

IMPROVED: We now provide CEO Reports for our $4-8 billion clients
Due to data constraints, this report has historically only been available to clients with assets less than $4 billion. Now, our clients in the $4-8 billion asset size can pull this annually updated report outlining typical CEO salary, benefits, and incentive pay right inside their BalancedComp system!

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