Jacksonville, Fla., May 9, 2011—HCR Software, a provider of compensation planning software, today announced solid financial results for the fiscal year ended February 2011.
“Our year was successful on all counts. We grew our business, expanding our client list while achieving cash flow-positive results for the full year.” said James Davis, chief executive officer of HCR Software. “We believe our strong financial results reflect the growing demand for compensation planning software and services being driven by wider adoption of pay-for-performance strategies and an increase in regulatory compliance concerns.”
As we look into the year ahead, we are very bullish on the prospects of increased adoption of technology to automate the processes for planning base pay and variable compensation. Following two years of salary freezes for many and tepid salary increase budgets for most, the outlook for 2011 is showing improvement. Recently, WorldatWork reported that of those organizations that reduced pay in the last 12 months, nearly 80% project they will perform some restorative action. Differentiating increases between low and high performers continues to be an area of focus for many firms making pay-for-performance a renewed priority.
As the shift to pay-for-performance accelerates, organizations are realizing the value of automated compensation planning tools to formalize the link between business performance and employee compensation. With CompensationXL in place, HCR Software’s customers are experiencing a renewed ability to focus on compensation strategy as they are freed from time-consuming tactical and administrative tasks related to their compensation planning process.
In response to growing demand for CompensationXL, HCR Software hired Robert Buckley as the vice president of sales. “Robert is a 30-year veteran of the Human Resource Software space. His professional experience includes senior roles with Kadiri, ADP and Green Total Compensation. Robert is a published author and copyright holder on talent management strategy and design with in-depth knowledge of compensation management best practices.”
HCR Software will be exhibiting at WorldatWork Total 2011 Rewards Conference in San Diego, CA on May 23 — May 25. Stop by booth 231 and learn more about CompensationXL.
About HCR Software
HCR Software is the maker of CompensationXL, a flexible and affordable compensation planning software which enables effective pay-for-performance strategies. It simultaneously reduces the administrative burden and cycle time while improving process integrity and regulatory compliance. CompensationXL automates merit planning and variable compensation without requiring changes to your process or retraining of your managers. Founded in 2006, HCR Software is a Delaware corporation, with administrative offices in Jacksonville, FL.
This press release was distributed through PR Web by Human Resources Marketer (HR Marketer: www.HRmarketer.com) on behalf of the company listed above.