New Features: March 2024

By Jacqualyn Summervill

New Features: March 2024

March brings our first-ever report showing data from all industries and asset sizes, some improvements to existing features, and a glimpse of an exciting future BalancedResults feature!

NEW: CEO Pay Ratio Report – our first report showing all industries and asset sizes
We’re thrilled to introduce a groundbreaking addition to our BalancedComp reporting suite – the CEO Pay Ratio Report. It reveals and compares your CEO pay, average non-CEO pay, and the resulting ratio against those same values for all BalancedComp clients within your industry and asset size.

But it doesn’t stop there. Now, for the first time ever, you’ll see the average CEO pay, average non-CEO employee pay, and CEO pay ratio for not just your industry and asset size but also across all industries and asset sizes. This empowers you with unparalleled data-driven insights to make informed compensation decisions and comprehensively view your organization’s compensation practices in a broader context.

IMPROVED: Plans Page Mass Actions
Since the addition of the Plans page in BalancedResults, we’ve migrated mass plan actions from the Employee page to it. This improvement ensures that company admins select plans first before taking any action, eliminating the confusion of selecting employees for plan-related actions.

With this update, you can now seamlessly print multiple plans at once, bulk edit section weights, and override plans from draft to active status en masse. By centralizing these actions on the All Plans page, we’ve simplified the process, making it more intuitive and efficient for you to manage your company’s plans effectively.

IMPROVED: Users must update their password after it gets updated
Previously, when a company admin or BalancedComp employee updated an employee’s password, additional steps were required to prompt the employee to change their password manually.

With our latest update, we’ve eliminated this manual step. Now, when a company admin or BalancedComp employee updates an employee’s password, the employee will be automatically prompted to change their password the next time they log in. This seamless process ensures that password updates are handled efficiently and securely!

SNEAK PEEK: Employee Self-Evaluations
We’re thrilled to offer you a sneak peek into what’s in store for BalancedResults. In our last product development cycle, we decided to pursue adding the option for employees to self-rate.

While we can’t provide an exact timeline for a project of this magnitude, we couldn’t wait to share the exciting changes coming your way in 2024. Stay tuned for more updates and details as we work tirelessly to bring you this exciting enhancement!

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