Taleo, a provider of talent management systems, has released a new comensation management system Taleo Business Edition Comp for businesses less than 5,000 employees.
Taleo Comp is part of the Taleo 10 Talent Management system for small and medium businesses and includes modules for recruiting, onboarding, goal planning and performance evaluation.
According to Taleo, the new compensation management system gives customers a view of their workforce. In conjunction with Taleo Perform, Taleo Comp offers small and medium businesses with flexibility in determining compensation based on performance, by powering equitable compensation and supporting compensation-related events.
The company said that Taleo 10 creates a summary calculation from multiple performance reviewers, which in turn can be compared to organisational guidelines to ensure equitable compensation allocation across the organisation. It can also be used to administer compensation cycles for professional and project-based employees.
Jason Blessing, group vice president and general manager of Taleo Business Edition, said: Retaining top performers is less about technology and more about gaining the trust and confidence of the employee base. Taleo Comp was designed to align back-end compensation data with performance metrics, allowing employers to build an equitable compensation system while increasing the trust and confidence of their talent.
