PayScale Payfactors vs. Workday Compensation

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.

Incentivized

• Real-time market data for the most up-to-date pay bands and ranges
• Robust internal organizational tools to manage multiple projects and collections of roles
• Quick Price tool can get a comprehensive compensation pick for a role within seconds.
• Internal help documents, message board communities, and live help agents are there if you need them

Incentivized

• I am not seeing an easy way to produce or export compensation summaries for multiple roles at once. I have to pull up multiple at once.
• The ERD and HRMA reports are in totally different formats and they don't have the same parameters to fine-tune matches.
• To be honest, I look forward to exploring more built-in features in 2024. It is a great program!

Incentivized

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.

Incentivized

• 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.

Incentivized