Laserbeam is a Compensation Management Software that has over ten years of experience in the service of delivering performance and compensation management solutions globally. The headquarters of the software are in California while the development of the application is in Chennai. One of the main purposes of a compensation management software is to ensure that the bonuses and salaries of employees remain competitive together with benefiting programs that change the need of the workforce. People who use this software’ not only work with the data but are also aware of the complexity of benefits administration.
Just like any other Compensation Management software out there, the Laserbeam software budgets employees salaries and is also used to provide information concerning any change in a person’s salary. The Laserbeam software has a team of 35 employees who have talent management domain expertise. The customers of the software include a couple of billion $ companies, top government banks, and the software competitors.
The main services conducted by the Laserbeam team include:
• Consulting Services
• Machine Learning / Technology Services
The company’s consulting services focus mainly on a client’s issues, opportunities and talent management needs. As stated earlier in the article, Laserbeam has been in the compensation market and HR space for over ten years. With the over ten years of experience, the company has professional expertise in employee performance, compensation and bonus across all seven industry verticals. Although the company brings some deep functional knowledge, it is also known of its’s holistic perspective.
Machine Learning/ Technology Services
Laserbeam has a team that consists of professionals who are experienced in the compensation management business. These professionals are capable of helping most customers in the areas of machine learning and predictive analytics. Compass AI is the platform used by Laserbeam software; the platform was created to cater to the customer’s talent management initiatives. For the corporate customers, the company has been able to predict for them attrition levels together with employee flight risks.
Benefits of Using the Laserbeam Software
Various benefits come with using a compensation management software. One of the main advantages of using the Laserbeam software is to aid the organizations that are going to use the software to move away from using the cumbersome spreadsheets for managing their compensation programs to using an online system. Other benefits of using the Laserbeam software include:
• A Clear Picture of the Workforce: By use of a compensation management software, an organization will be able to get a clear picture of its workforce. The software tools will help the organization to get all the necessary information it needs to get concerning the performance of employees in making the appropriate pay recommendations.
• Fewer Errors: While updating an organization’s spreadsheets that has information from hundreds or even thousands of different managers increases the likelihood of errors in the system.
• Increased Employees Retention: A concise and Focused compensation and reward system will help an organization to identify any high performance from an employee. The software will you to reward and retain those employees who have high performance accordingly.