Name: LaborIQ by ThinkWhy
Author: ThinkWhy

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### Job Titles and Roles
While users appreciate the functionality of LaborIQ by ThinkWhy's job titles and roles feature, there are concerns regarding the accuracy and specificity of the job titles provided. Some users find the abundance of job titles listed to be challenging, making it difficult to ensure the most accurate information is being utilized. Additionally, the tool is currently limited to roles within the United States, which may pose limitations for users requiring global job title insights. Despite these challenges, users acknowledge the tool's value in setting expectations with hiring managers and guiding compensation discussions effectively.

### Industry Specialization
User feedback on LaborIQ by ThinkWhy's industry specialization capabilities is mixed. While some users appreciate the ability to drill down into specific industries, company sizes, and locations for relevant compensation data, others find challenges in matching job titles across different industries. The platform's support for industry-specific needs is acknowledged, but there are suggestions for improvements in the search feature to enhance the user experience when identifying specialized roles. Despite these mixed opinions, LaborIQ continues to evolve based on customer feedback, indicating a commitment to enhancing its industry specialization features.

### Company Size and Market Analysis
Users consistently praise LaborIQ by ThinkWhy's company size and market analysis capabilities, highlighting its value in providing relevant and reliable compensation data. The tool's ability to drill down into different company sizes, locations, and industries allows users to gain a comprehensive understanding of market conditions. Additionally, the ease of use and quick accessibility of information make it a preferred choice for setting realistic salary ranges and managing hiring manager expectations. LaborIQ's feature to adjust company size and observe its impact on roles is particularly appreciated by users, enabling them to make informed decisions based on specific needs and industry requirements.

### Salary and Compensation Insights
Users consistently praise LaborIQ by ThinkWhy for its robust and user-friendly salary and compensation insights capabilities. The tool provides realistic salary ranges verified by credible third parties, saving users significant time in validating appropriate salaries. Users appreciate the ability to customize salary data based on various factors such as geography, education levels, years of experience, and company size, enabling them to make competitive compensation offers efficiently. LaborIQ's compensation tool is highly regarded for its detailed reports and continuous improvements based on customer feedback, enhancing its value in guiding compensation discussions and providing strategic advantages to users and their clients.

### Compensation Tools and Data Usage
Users consistently praise LaborIQ by ThinkWhy's compensation tools and data market insights. The tool is lauded for providing a solid baseline for salary assessments, offering valuable guidelines that can be tailored to specific industry needs. While users acknowledge the challenges of obtaining precise data in the ever-evolving job market landscape, they appreciate the ability to drill down into company size, location, and industry to access relevant compensation data. The intuitive interface and high-quality support further enhance the user experience, allowing for informed decision-making in compensation discussions.

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.

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 strategies

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LaborIQ® by ThinkWhy is providing talent acquisition professionals with data-driven solutions to grow their bottom line. 

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Features for products in the Talent Intelligence category

Continuous AI Model Training

Quality and frequency of AI talent model training

Existing Skills Mapping/Lanscaping

How effectively and easily does the product identify and map existing skills pools within the organization’s talent and candidate pools

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Quality of candidate anonymization and masking identifying/personal information

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Demonstrated ability for product’s algorithms and models to mitigate biases in talent data

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Quality of built-in and customizable reporting on talent and candidate diversity

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Quality of AI-driven role definitions within the organization

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Ability of product to resurface qualified candidates that applied to prior openings

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LaborIQ by ThinkWhy

Overview

What is LaborIQ by ThinkWhy?