PayScale Insight Lab is mostly being utilized by the HR department to benchmark compensation and to determine competitive compensation for our employees. It is a very useful tool to ensure that we are compensating our employees fairly and based on their knowledge, skills as well as location. We will soon be inputting the data provided into our HRIS and Payroll system which has a compensation management feature so that managers can utilize the data to assist them in their merit increase or salary adjustment decisions during performance reviews.
- Provide Salary Range Based on Location & Industry
- Great Tool for Compensation Management
- Provide Useful Data for Succession Planning & Career Advancement
- Filter Inaccurate Data Collection from Potential Salary Inflation
It is suited for a range of organization sizes and it is well suited for those who wants to do compensation research with market benchmarking. I believe that Payscale Insight Lab is beneficial to have even for a small business owner for headcount cost analysis purposes or just to be informed of what the ongoing market rate is for a role. This will be less appropriate for very small business owners with non-complicated positions or a franchise owner working with fixed salary ranges company-wide.
Never had any issues with customer support as they are very responsive. The system is very reliable, therefore, we rarely interact with their customer support.