30th August 2022 — beqom, the total compensation management solution, today announced the acquisition of Our Tandem, a continuous performance management platform that drives people development through personalized feedback, coaching, and goal setting. This industry-first move aligns personalized rewards with meaningful behaviors, goals, and skills, transforming how companies reward and recognize their people, attract and retain top talent, and address pay equity and transparency.
With over 65% of US workers and 73% of UK workers seeking new employment in the last year and increasing public pressure to address pay disparities caused by inflation, hybrid work, and other factors, companies can no longer hold on to outdated compensation and rewards models. In order to retain and attract employees, brands are shifting to a people-centric compensation approach and prioritizing tools that have a meaningful impact on the employee journey touchpoints while ensuring overall employee costs are transparent and optimized.
The combination of beqom and Our Tandem provides a continuous performance and reward solution that offers personalized rewards aligned to real-time performance data and feedback, skills, behavior, and goals along the employee touchpoints, giving employees a feeling of purpose and engagement. This one-of-a-kind solution ensures that rewards are individualized, fair, and within budget through a powerful optimization and governance engine.
Our Tandem was established in 2016 in response to a market gap for which there was no complete solution: total performance management software. Founded by Aisling Teillard and Clare Bonham – all HR experts and HRIT professionals – the platform was designed to be a comprehensive, sustained feedback solution that fosters more personalized, meaningful, and engaging experiences for both employees and managers.
“Our Tandem has been a leader and a supporter of the shifting needs of individual organizations and the workforce, and we are ready to take our next step and join forces with beqom,” said Aisling Teillard, CEO of Our Tandem. “I have no doubt that the combined power of these two solutions will further transform how organizations manage and reward employees along their journey and build happier higher performing teams.”
“This acquisition represents an exciting step forward, not just because of the combination of the products, but because of the combination of the people. We found in the Our Tandem team a perfect match with the beqom culture,” said Fabio Ronga, CEO of beqom. “beqom’s vision has always been to help customers effectively leverage their talent to drive their business, so combining Our Tandem’s innovative continuous performance solution with our unique total rewards platform offers a true breakthrough in employee management.”
The companies will continue to operate under their respective brands while placing focus on integrating and growing both the Our Tandem and beqom teams and accelerating the combined product roadmap.
The acquisition was led by beqom and Sumeru Equity Partners, a technology-focused growth capital firm that first backed beqom with a significant strategic investment.Venero Capital Advisors served as the financial advisor to Our Tandem.
About Our Tandem
Our Tandem’s dual purpose performance platform coaches both managers and employees to ignite and sustain workplace cultures that inspire. Designed to empower employees to unlock their potential and performance, while supporting managers to accelerate their coaching capabilities. Delivering an engaging experience, through crowdsourced real time feedback, regular check ins, configurable performance review templates and a unique 360 development experience, Our Tandem delivers a truly transformative performance management experience.
beqom provides a cloud-based compensation management solution that unifies all compensation and rewards processes on a single platform, from salary and bonus to deferred incentives and sales commissions. Designed to meet the sophisticated needs of leading enterprises, beqom enables companies to attract and retain talent, engage and motivate employees, control costs, streamline processes, and ensure fair and compliant pay. beqom integrates seamlessly with core HCM software, providing the best-of-breed capabilities needed to implement effective compensation strategies worldwide, without compromise. beqom is used across all industry sectors by leading global companies.
Aisling Teillard |CEO | Our Tandem | firstname.lastname@example.org