HiBob is Vendor of Assurance in TCM Value Index

We are happy to share some insights about HiBob drawn from our latest Value Index research, Ventana Research Value Index: Total Compensation Management, which assesses how well vendors’ offerings meet buyers’ requirements.

In all of our Value Indexes we utilize a structured research methodology that includes evaluation categories designed to reflect real-world criteria incorporated in a request for proposal (RFP) and vendor selection process for total compensation management. We evaluated HiBob and 13 other vendors in seven categories, five relevant to the product (adaptability, capability, manageability, reliability and usability) and two related to the vendor (TCO/ROI and vendor validation). To arrive at the Value Index rating for a given vendor, we weighted each category to reflect its relative importance in an RFP process, with the weightings based on our experience and on data derived from our benchmark research on total compensation management.

HiBob’s provides an approach to total compensation that ensures the unification of information across its suite of applications. HiBob was categorized as a Vendor of Assurance, ranking 12th overall in this Value Index evaluation. It ranked 13th in Product Experience where it performed best in Capability, placing 12th. It ranked fourth in Customer Experience and was designated a Value Index Leader in Validation. HiBob’s overall performance was impacted by its lower rankings in Usability and Manageability, placing 13th in both. These two categories represent 35% of the weighting in the overall Value Index.

Our assessment finds that HiBob could improve its performance in Adaptability, where it ranked 14th, through customization and investments that expand integration between its products and the enterprise. In Capability, where it ranked 12th, HiBob could advance its level of support for the variety of compensation types and integration to business processes, and its level of support for pay equity.

This assessment was based on Bob products and was available in February of 2023.

HiBob, like all compensation management vendors, should ensure they continue to focus on capabilities beyond the core that will only continue to increase in their importance to buyers, like prescriptive analytics, proactive pay equity management, and creative and personalized compensation plans that are becoming increasingly more complex.

This research-based index is the most comprehensive assessment of the value of total compensation management software in the industry. Technology buyers can learn more about how to use our Value Index by clicking here and included vendors that wish to learn more can click here. Read the report here.