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LaborIQ by ThinkWhy has proven to be an invaluable tool for users in addressing various business problems related to compensation and …
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What is LaborIQ by ThinkWhy?
LaborIQ® by ThinkWhy is a talent intelligence platform that provides talent acquisition professionals with data-driven solutions to grow their teams. LaborIQ’s employment reporting and forecasts, talent supply and demand, compensation benchmarking, and custom reporting tools deliver a competitive advantage in talent…
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What is LaborIQ by ThinkWhy?
LaborIQ® by ThinkWhy is a talent intelligence platform that provides talent acquisition professionals with data-driven solutions to grow their teams. LaborIQ’s employment reporting and forecasts, talent supply and demand, compensation benchmarking, and custom reporting tools deliver a competitive…
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What is LaborIQ by ThinkWhy?
LaborIQ by ThinkWhy Technical Details
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| Mobile Application | No |
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LaborIQ by ThinkWhy has proven to be an invaluable tool for users in addressing various business problems related to compensation and salary analysis. With the new CA Pay Transparency Law, users have relied on LaborIQ to develop salary ranges that comply with the legislation, ensuring transparency and fairness in compensation practices. This feature has not only helped organizations adhere to regulatory requirements but also fostered trust and accountability among employees.
In addition, LaborIQ has been instrumental in analyzing internal equity and establishing appropriate salary ranges for hiring purposes. By leveraging the software's capabilities, users have gained insights into potential disparities within their organizations and have taken proactive steps to rectify them. This not only promotes a more equitable work environment but also enhances employee satisfaction and engagement.
LaborIQ's efficiency in creating salary bands for multiple roles and regions has significantly reduced the time users spend on this task. The software streamlines the process, allowing users to generate accurate and comprehensive salary data quickly. This time-saving benefit enables HR professionals to focus on other critical responsibilities, ultimately improving overall productivity within the organization.
The portal and reporting features of LaborIQ offer users easy access to essential salary information. By providing a user-friendly interface, the software ensures that users can retrieve the data they need promptly. This accessibility empowers HR professionals to make informed decisions when it comes to setting expectations with hiring managers and guiding them in approaching open roles and compensation discussions.
With LaborIQ's data-backed knowledge and visually educational presentations, users can facilitate meaningful compensation discussions. The software equips HR professionals with valuable insights into compensation differences across different job titles and associated skills. This allows for more informed decision-making when it comes to negotiating salaries, attracting top talent, and retaining valuable employees.
LaborIQ also provides a strategic advantage for users working with clients in salary discussions. By leveraging the software's comprehensive data, HR professionals can offer their clients evidence-based recommendations that are rooted in market trends and industry benchmarks. This enables consultants to provide valuable insights and guidance, enhancing the overall effectiveness of their client engagements.
Overall, LaborIQ by ThinkWhy has proven to be a versatile tool that addresses numerous business problems related to compensation and salary analysis. From complying with regulations to promoting equity and efficiency, this software offers a comprehensive solution for organizations seeking data-driven insights into their compensation practices.
Valuable Tool for Salary Assessment: Several users have found LaborIQ to be a valuable tool during company-wide salary assessments. It provides a solid baseline ballpark for compensation data, saving them significant time in validating appropriate salaries.
Responsive and Effective Customer Support: Many reviewers have appreciated the responsiveness and effectiveness of the contact and customer success team at LaborIQ. They have received fantastic support with quick feedback from the support team.
User-Friendly Interface: Numerous users have highlighted the user-friendly interface of LaborIQ compared to other similar software. They find it easy to access information, make changes within the tool, and generate reports that can be easily transferred into their own presentations or printable format.
Challenging to Assess Job Titles: Some users have found it challenging to assess which job titles match their specific requirements, particularly when many titles are client-submitted.
Lack of Industry-Specific Information: The lack of industry-specific information and high-level job matches on LaborIQ can be a drawback for users with specialized roles.
Inefficient Search Feature: Users have expressed that the search feature could be improved as they can only pick one title at a time and have to click into each one to see if it will work for them. Additionally, there is no results display page, making the search process less efficient.