beqom – a provider of a compensation management solutions — acquired Our Tandem, a performance management platform that offers people development through personalized feedback, coaching and goal setting.
Beqom’s existing platform unifies all compensation and rewards processes on a single place, including salary and bonuses, deferred incentives and sales commissions. The company said the acquisition of Our Tandem will align personalized rewards with behaviors, goals and skills, transforming how companies reward and recognize their workforce, attract and retain top talent and address pay equity and transparency concerns..@beqom's acquisition of @OurTandem aims to transform how employers recognize their people, attract talent and provide pay equity and transparency. #HR #HRTech Click To Tweet
The acquisition comes as employees re-evaluate their needs in the wake of the Covid-19 pandemic. Among the results it expects are pushes for more transparency around pay and increased pressure to address pay disparities caused by inflation and hybrid work. beqom said companies will need to change in order to be competitive and attract new workers, on top of maintaining existing employee engagement.
The goal of the acquisition was to integrate performance management into compensation management in the hopes of building “happier, higher performing teams,” said Our Tandem CEO Aisling Teillard.
In a statement, beqom said that, as employers struggle to attract and retain talent, the merged companies will provide a way to engage employees with a digital experience that encourages them with purpose, guides them to excel and helps them understand their value.
With employers struggling to attract and retain talent, beqom’s and Our Talent’s solutions will help keep employees engaged by linking performance and compensation. “beqom’s total rewards gives [employees] a clear picture of how they are being paid based on performance,” said Teillard.
The companies will continue to operate under their respective brands while focusing on integrating and growing both the beqom and Our Tandem teams, as well as accelerating their combined product roadmap.