Workers Compensation
PR Newswire | September 27, 2023
Sequoia, the pioneer in benefits and compensation, announced Sequoia Comp OS™ 2.0 on the Sequoia People Platform. This transformative solution equips companies with real-time visibility and heightened control over their organization's global people spend.
Sequoia Comp OS, which is already used by over 250 Sequoia clients, unifies HR, finance, business leaders, and employees within a single operating system, simplifying the often tedious and frequently spreadsheet-reliant compensation management process. By offering a single source of truth, Sequoia Comp OS allows HR and financial leaders to have the same insights into the past, present, and future of their people spend, enabling real-time adjustments as their workforce and business changes.
Sequoia Comp OS is a modern way for companies to:
Standardize jobs and set pay ranges to establish competitive and equitable pay.
Allocate total compensation effectively for current and future jobs with headcount planning, active hiring plans, and merit cycle planning.
Stay compliant with pay regulations and corporate governance.
Communicate successfully with employees through personalized offers, merit letters, and total rewards statements.
Leverage real-time guided analytics to track global people spend and organizational changes.
In addition, Sequoia provides strategic Compensation Advisory services through their team of compensation experts specialized in helping modern companies. This same team worked hand-in-hand with Sequoia's product organization to design the Comp OS solution so that clients can quickly operationalize their tailored advisory services.
For 22 years, our company has worked with many of the best HR leaders and finance leaders at some of the fastest growing companies in the world. Yet, a very large majority are managing their biggest investment, their people, using multiple disparate spreadsheets and old data, said Greg Golub, CEO & Founder of Sequoia Group. Our solution puts HR and finance on the same page so they can better partner together, spend less time wrangling spreadsheets and more time stewarding the people strategy at their companies. We built it so we could operationalize our compensation needs for our 1,200+ global employee-company and it's been a total game changer for us, so I am excited to bring it to all our clients.
Courtney Cherry Ellis, SVP of People at Auditboard said, "We were able to work with Sequoia as an extension of our team to create a compensation philosophy that made sense for Auditboard and our employees. With Sequoia, we were able to operationalize a fair and equitable pay structure across the company."
Matthew Kennedy, SVP of People at Tonal said, "Our partnership with Sequoia began many years ago through advisory on our executive compensation philosophy, and over the years it has evolved. Sequoia is now a key partner for all things comp and benefits."
We are bringing together data that companies would typically gather from disparate HR tools to provide business leaders with the complete picture around employee compensation and enables them to make executive decisions with confidence, said Kyle Holm, VP of Sequoia's Compensation Advisory. When you can drive the strategy with an operating system, HR and Finance leaders spend way less time crunching spreadsheets and much more time focused on stewarding the people advantage for their companies.
Sequoia Comp OS is available to all Sequoia clients today.
To learn more, visit sequoia.com/comp-os.
About Sequoia
Sequoia is the leader in Total People Investment. We help companies create a people advantage through improving retention, attracting top talent, and increasing people-spend ROI. With expert advisory services across compensation and benefits and a powerful platform, we connect employee total comp programs with insightful people analytics so companies can manage their global people investment in real time to better meet the needs of their evolving workforce. Visit Sequoia.com or follow us on LinkedIn to learn more.
Read More
Employee Experience
Workhuman | September 25, 2023
Workhuman, a renowned company at the forefront of transforming how employees engage, connect, and show appreciation in the workplace, has taken a significant step in enhancing its market-leading Social Recognition platform by introducing the all-new Workhuman app for Microsoft Teams. This innovative application is now readily available for download in the Microsoft Teams app store, providing employees within organizations complete access to the features offered by Workhuman's robust recognition platform, all within the Microsoft Teams environment where employees conduct their daily work, meetings, collaborations, and communication. Leveraging the cutting-edge capabilities of the Microsoft Teams platform, this new application empowers Workhuman to offer its clients an effective means to elevate awareness and real-time participation in their employee recognition initiatives.
Building upon the initial Teams integration by Workhuman, which already supports users launching the recognition nomination process within Teams chats and Teams channels, the new app brings forth a host of features:
A native welcome page that facilitates immediate recognition and showcases an 'always on' awards feed, along with a highlight reel of years-of-service awards and celebrations, all without necessitating employee logins to a company intranet.
Award notifications within the Teams Activity tab, along with the ability to extend kudos and congratulations to colleagues across the organization who are receiving recognition or commemorating significant life and work milestones, thereby fostering a more unified company culture.
The capacity to deliver 'in-the-moment' recognition within Teams chats, channels, or even during meetings (through a Microsoft Teams meeting extension), accessible across mobile, desktop, and web versions of Teams.
Employee visibility into their own recognition points balance, serving as a reminder of the recognition they have received from their peers, coupled with one-click access to the Workhuman Store for perusing and redeeming points for merchandise, gift cards, charitable donations, or experiences.
Teams administrators are granted centralized permission and deployment controls for the application within the organization's Microsoft Teams environment, offering granular settings and robust security options.
Research conducted jointly by Workhuman and Gallup has delved into the profound impact of recognition on business outcomes. A key finding reveals that only one in four employees in Gallup's global database strongly agree that they have received recognition or praise for their outstanding work in the past week. However, the study also underscores the potential benefits of doubling this figure, leading to a remarkable 9% boost in productivity and $91,989,474 in increased employee productivity. Furthermore, additional research demonstrates that when employees are acknowledged for life events and work-related milestones, they are three times more likely to strongly agree that they feel connected to the organizational culture.
The Workhuman app for Microsoft Teams harnesses the full potential of an enterprise's human resources and employee experience strategy, delivering it to an engaged audience to stimulate enhanced employee engagement, connection, retention, and productivity on a large scale. The introduction of the Workhuman app for Microsoft Teams represents the next stride in Workhuman's journey to bring the power of its entire platform to the digital employee experience provided by Microsoft 365, encompassing Microsoft Teams, Outlook, Viva, SharePoint, and more.
About Workhuman
Workhuman is a leading firm addressing the most pressing human capital challenges faced by companies today, including high turnover, employee engagement, hybrid work environments, and diversity, equity, and inclusion (DEI) through the Workhuman Cloud, a secure SaaS platform that offers the industry's premier Social Recognition solution. The company offers unparalleled technology solutions, analytics, expertise, and services to organizations of all sizes, fostering workplace cultures rooted in employee recognition and crowd-sourced feedback. As the global leader in technology solutions, Workhuman is revolutionizing how employees celebrate, connect with, and appreciate one another in the workplace.
Read More
Employee Engagement
Oracle | September 22, 2023
Oracle introduces new employee recognition and rewards capabilities within Oracle ME, enhancing the employee experience in Oracle Fusion Cloud Human Capital Management.
Oracle Celebrate, a unique recognition and rewards offering, aims to improve performance, engagement, and retention by personalizing the employee experience.
Features of Oracle Celebrate include peer-to-peer recognition, AI assistance, nomination and event-based awards, redeemable points, recognition insights, real-time data, and a recognition-based social feed.
Oracle has unveiled its latest enhancement to the Oracle ME employee experience platform, embedded within Oracle Fusion Cloud Human Capital Management (HCM). This development, Oracle Celebrate, stands out as a groundbreaking recognition and rewards solution designed to elevate performance, engagement, and staff retention by delivering a more customized and meaningful experience for employees.
Yvette Cameron, Senior Vice President of Product Strategy at Oracle Cloud HCM, emphasized the significance of acknowledging employees and said,
Employees are the foundation of any successful organization, and leaders need to ensure that their people feel celebrated and valued or risk losing both talent and productivity.
[Source - Cision PR Newswire]
Cameron stated that with Oracle Celebrate, organizations could now utilize a comprehensive and unified employee experience platform. She explained that this platform aligned recognition with company values to nurture a culture of appreciation and acknowledgment. Furthermore, she emphasized that it encouraged more impactful peer-to-peer interactions. Cameron highlighted that these newly introduced capabilities simplified employee recognition, made it meaningful and inclusive, and empowered HR and business leaders to give precedence to employee appreciation. She added that it also served to enhance engagement and motivation within the workforce.
Key features of Oracle Celebrate include:
Peer-to-peer recognition: This feature enables employees and leaders to acknowledge their colleagues across the organization in real time, with personalized recognition linked to business values. It seamlessly incorporates peer recognition into an employee's daily routine and work processes.
Generative AI assistant: Employees can enhance peer-to-peer recognition by receiving suggested improvements for their submissions, facilitating the creation of more impactful recognition notes for peers.
Recognition insights dashboard: Managers can access detailed insights about the recognition patterns within their teams, highlight individuals who may require additional support, and identify top contributors.
Nomination and event-based awards: This feature permits employees to recognize their peers for significant events such as promotions and work anniversaries, as well as nominations made by managers and peers, such as the ‘Employee of the Month’. These recognitions are initiated by updates to employee profiles in Oracle Cloud HCM.
Real-time recognition and engagement data: Organizations can continually update and monitor recognition programs with precise data, enabling administrators to measure their effectiveness and correlate recognition efforts with business outcomes.
Redeemable points: Employees can accumulate points when recognized by team members, which can later be exchanged for rewards integrated into the system by the organization.
Recognition-based social feed: Employers can create a real-time stream of organization-wide and team-wide awards and accolades, promoting camaraderie and increasing visibility for daily accomplishments.
Zachary Chertok, the research manager for employee experience at IDC, mentioned that the applications and value of recognition are expanding and evolving as organizations rethink how they connect into and uplevel employee success. He also noted that building an ecosystem for recognition assists in sourcing the roots of achievement, moving the needle on best practices as success occurs, stimulating cultural acceptance around process innovation, and fostering belonging through community acknowledgement and appreciation.
Ushaan Abeywickrema, the director of human resources at MAS Capital, noted that many organizations find it challenging to establish a straightforward system for ensuring that employees receive the praise and recognition they deserve. He pointed out that this represents a significant gap in the HR software market, especially considering the well-known importance of fostering a strong sense of value and accomplishment to enhance employee engagement and workforce efficiency.
Abeywickrema also conveyed excitement about Oracle Celebrate and its potential to introduce innovative capabilities that could revolutionize how they personalize the employee journey. He expressed hope that Oracle Celebrate would make it easier to acknowledge the dedication and hard work of their team members, all while reinforcing their commitment to their organizational culture and productivity. He believed that by recognizing their contributions, their employees would feel more seen, supported, and empowered to perform at their best and deliver their finest work.
Oracle Cloud HCM, a cloud-native solution, offers a comprehensive platform connecting all HR processes from hiring to retirement. It provides HR teams with a unified source of truth and leverages built-in AI to analyze workforce data, offering recommendations to enhance business operations.
Read More