Ultimate Software Enables Companies to Make More Effective Compensation Decisions with New Compensation Management Solution
Date: July 15, 2014 4:50 PM EDT
Improves Job Candidate Engagement with UltiPro Recruiting
WESTON, Fla.--Ultimate Software (Nasdaq: ULTI), a leading cloud provider of people management solutions, announced today that it has delivered numerous enhancements to its HCM solution in the UltiPro Spring 2014 release, including a new compensation management product, additional talent analytics that help identify top talent, and the general availability of its new UltiPro Recruiting solution, first announced in October 2013.
“Our most recent version of UltiPro delivers a wide range of technology enhancements designed to improve the work experiences for our customers and employees at every level of their organizations,” said Adam Rogers, chief technology officer at Ultimate Software. “The Spring 2014 release of UltiPro continues our journey in helping businesses of all sizes and across all industries to simplify work to engage their employees.”
New Compensation Management Solution
UltiPro’s new Compensation Management solution — now available to all customers — enables managers to easily navigate through the often-challenging process of allocating pay and rewards to their people, with new, more flexible capabilities to view and analyze current compensation, as well as set up compensation plans by various factors such as performance.
Key features of UltiPro Compensation Management include:
- Analysis tools and talent insight that enables managers to make informed compensation decisions
- Data visualizations and executive roll-up views for informed decision making
- Configurable merit guidelines based on performance rating or compa ratio that also support employees in their local currencies
- Options to establish target amounts based on percentage of base pay, flat amounts, or units (e.g., restricted stock units)
- Alignment of employee compensation with corporate objectives while staying within budget and following established guidelines
“When managing today’s dynamic and evolving workforce, we believe it’s more important than ever to have the right resources and confidence that you are effectively compensating and motivating your people,” said Rogers. “Equally important is that your employees, regardless of the country where they work, understand their compensation and have visibility into the factors that drive it.”
Extending Talent Analytics
Following the 2013 release of its award-winning UltiPro Retention Predictor™ — a sophisticated metric based on a statistical model that helps predict an employee’s likelihood to stay with an organization — Ultimate introduced the new UltiPro High Performer Indicator™. Embedded within the employee’s talent card, the UltiPro High Performer Indicator is a big data-fed algorithm that uses employee information beyond performance history to give business leaders an easy-to-read, visual indicator about each employee’s performance over time.
“The promise of big data isn’t solely about finding data patterns. It’s about finding the right insights and making them actionable to drive better business results,” said Rogers. “In talent-dependent businesses, where the cost of replacing key employees is considerable, the type of business-critical insight provided by UltiPro’s predictive analytics tools is extremely valuable.”
Compliance with the Affordable Care Act
In addition to providing customers with capabilities for enhanced talent management, Ultimate is introducing new tools in UltiPro that will help U.S.-based customers effectively manage the complex eligibility requirements for employee benefits as well as provide assistance in meeting the most recent compliance regulations related to the Patient Protection and Affordable Care Act (PPACA).
With the new Healthcare Eligibility Dashboard in UltiPro, customers have a visual, immediate way to configure and track multiple measurement groups based on PPACA requirements to determine employee eligibility for medical coverage. Customers can choose to use Safe Harbor parameters that reflect their organization — measurement, administrative, and stability periods — to determine if employees are considered full time.
In the Spring 2014 release of UltiPro, Ultimate made the new UltiPro Recruiting solution generally available, with over 15 live customers using the solution. UltiPro Recruiting transforms the traditional approach to recruiting by putting the candidate’s experience first.
Instead of a system that focuses primarily on automation and efficiency for recruiters, Ultimate’s new recruiting solution is designed to simplify people’s experience early in the talent acquisition process, make the process a personal and impactful experience, and prevent candidate drop-off.
“UltiPro Recruiting is an entirely new approach to attracting and hiring people — a candidate-focused solution that delivers an engaging, relationship-driven experience that will help organizations connect the best talent with their business,” said Cecile Leroux, vice president of product strategy and product management at Ultimate Software.
Some of the features of UltiPro Recruiting include:
- Gamification, collaboration tools, mobility, and integration with popular social networks
- The ability for candidates to build an in-depth, online presence rather than being limited to the traditional candidate profile
- Functionality that invites a candidate to discover their potential and recommends job opportunities to candidates based on innate competencies, behaviors, motivations, and career aspirations — rather than just displaying open jobs based on a typical keyword or title search
- State-of-the-art design principles for the user experience — ethnographic research, real-world observation of the online job application process, data from eye-tracking technology studies that show how users navigate web-based applications, and input from hundreds of current customers
- A recruiter experience that reflects how recruiters and hiring managers prefer to work
“Engagement of people will always be central to Ultimate Software’s business philosophy for our customers, and we believe successful candidates become successful employees,” said Rogers. “For many organizations, it is difficult to engage people in the talent acquisition process, which frequently is the candidate’s first interaction with a company. Treating recruiting like a consumer interaction and designing the experience around the candidate are crucial for businesses today that want to attract top talent.”
About Ultimate Software
Ultimate Software is a leading cloud provider of people management solutions, with more than 15 million people records in the cloud. Built on the belief that people are the most important ingredient of any business, Ultimate’s award-winning UltiPro delivers HR, payroll, talent, compensation, and time and labor management solutions that seamlessly connect people with the information and resources they need to work more effectively. Founded in 1990, the company is headquartered in Weston, Florida, and has more than 2,000 professionals focused on developing the highest quality solutions and services. In 2014, Ultimate was ranked #20 on FORTUNE’s list of the 100 Best Companies to Work For; ranked #8 on Forbes magazine’s list of the 100 Most Innovative Growth Companies; and recognized as a ‘Leader’ in Nucleus Research’s HCM Technology Value Matrix. Ultimate has 2,700 customers with employees in 150 countries, including Adobe Systems Incorporated, Bloomin’ Brands, Culligan International, Major League Baseball, Pep Boys, Texas Rangers Baseball, and Texas Roadhouse. More information on Ultimate’s products and services for people management can be found at www.ultimatesoftware.com.
UltiPro is a registered trademark of The Ultimate Software Group, Inc. All other trademarks referenced are the property of their respective owners.
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