Payfactors, now part of PayScale, provides three data sources to help organizations quickly respond to a changing talent market and the technology for organizations of all sizes to create more equitable and transparent pay practices.
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Welcome
Score 8.5 out of 10
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Welcome is an intelligent compensation hub used to communicate offers to candidates and total
rewards to employees — while making data-driven compensation decisions. It aims to help users increase acceptance rates
by clearly communicating
each offer and its total
compensation with Digital Offers, and boost employee retention by helping
employees understand the value
of their equity, benefits, salary,
and bonuses with Total Rewards. With Compensation Data, users' HR and People…
With their multiple compensation databases and the ability to quickly navigate and explore market matches, I can trust that the data is accurate and up-to-date and that I can confidently stand behind my recommendations after doing my in-the-box Payfactors work. PayScale is a company that continues to grow and develop by leaps and bounds , so getting onboard with them now is still essentially the ground floor of something incredible.
If you don't have a workflow management tool in place and are relying on email or shared documents, then I would recommend using Welcome to keep tasks moving and employees accountable. It's very flexible, so you can really drill down on what you're asking from users and it consolidates the tasks that you need to work on in one place. We don't use it for legal documents due to more specific requirements that those require, but, for most other collaborative work, it is used.
For some tasks that don't require an article, we are forced to create one or the task doesn't function.
When changes are tracked in Word docs they are not apparent until the file is downloaded meaning that if people are only previewing content, they will miss these changes/comments.
Having 2 separate places to comment can be confusing and hiding resolved comments can mean less transparency in the process.
I continue to use both CompAnalyst and Payfactors simultaneously and they both have many pros and few cons. PayScale seems to have more advanced capabilities and has more robust user-provided tweaking and cutting-edge features. The access to multiple databases is also a major benefit. While the look and feel of Payfactors seems more "21st century" than CompAnalyst, I have to say that CompAnalyst has some very intuitive features, like the ability to select many matches, add them to a list, and then export the lot of them in a single Excel file, that I do enjoy and that I don't believe Payfactors can match. That would be one drawback, however this doesn't really affect the end results, which are incredible, it just changes the path to get there a little bit.
Increased capacity to provide accurate and robust compensation analyses
Ability to compare and contrast compensation schema between Payfactors and other databases.
Access to an enormous database of help documents and lux pdfs regarding pay philosophies, compensation concepts, market developments, etc. Educational resources are phenomenal.
Employees can be resistant to using Welcome at first as they think it will add to their workload, but they, eventually, see the benefits of saving time and gaining efficiency.
If one person is responsible for entering all tasks, it can be a fair bit of admin time for that person.
We have a better working relationship with external agencies that also use Welcome to collaborate with us.
