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PayScale is a versatile software that is extensively used across organizations for various purposes. One of the primary use cases of …
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What is PayScale Insight Lab?
PayScale Insight Lab is a sales intelligence software solution offered by PayScale, Inc.
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What is PayScale Insight Lab?
PayScale Insight Lab is a sales intelligence software solution offered by PayScale, Inc.
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What is PayScale Insight Lab?
PayScale Insight Lab offers what the vendor describes as a smart, easy to use compensation management software, and promises transparent datasets, intuitive structure modeling, and best-in-class service and support to ensure the user is quickly set-up to attract and retain top talent.
The vendor states PayScale Insight Lab presents the following advantages:
The vendor states PayScale Insight Lab presents the following advantages:
- THE RIGHT LEVEL OF DATA. Validated, built-in datasets let the user know what similar companies are paying for jobs, and unique skill based data to keep an eye on market trends for fast moving jobs.
- BUILD A MODERN COMPENSATION STRATEGY AND STRUCTURE. Leverage smart software to develop a comp strategy that is best suited to any particular organization. A sound compensation strategy allows businesses to pay fairly and competitively while remaining focused on the bottom line.
- COMMUNICATE COMPENSATION WITH CONFIDENCE. PREVENT COSTLY TURNOVER. Conversations about pay can sometimes matter more than the pay itself. Easily communicate compensation to employees. Ensure employees understand what they are paid and why.
- ENSURE PRICING IS ACCURATE FOR EVERY JOB. Reduce over-underpayment issues as you grow. Blend multiple data sources, including industry standard surveys with Insight Lab's built-in Company & Crowdsourced data, in a simple and visually friendly interface.
PayScale Insight Lab Features
- Supported: Match jobs by unique skills
- Supported: Configurable Employee Comp Report
- Supported: Structure and strategy to manage employee base pay and model what-if scenarios
- Supported: Robust analytics to understand market movement, discover hot jobs, and identify flight risks
PayScale Insight Lab Integrations
PayScale Insight Lab Competitors
PayScale Insight Lab Technical Details
| Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Unspecified |
| Mobile Application | No |
| Supported Languages | English |
Frequently Asked Questions
PayScale Insight Lab is a sales intelligence software solution offered by PayScale, Inc.
The most common users of PayScale Insight Lab are from Mid-sized Companies (51-1,000 employees).
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TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
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PayScale is a versatile software that is extensively used across organizations for various purposes. One of the primary use cases of PayScale is its role in benchmarking, grading, and reviewing market comparators within a company. This feature allows users to bring the grading process in-house, resulting in cost savings and improved compensation calibration and pay for performance. According to users, PayScale's ability to generate accurate reports and benchmark jobs has been invaluable in ensuring fair market rates for current and potential employees.
The HR department relies heavily on PayScale Insight to price and benchmark jobs, evaluate salary ranges for internal equity and market competitiveness, and generate reports. By utilizing this software, organizations can maintain their competitive advantage in attracting and retaining talent by setting valid salary ranges, paying competitive market rates, and determining pay for new hires and promotions. Users have praised PayScale for its ability to take into consideration various factors such as expertise, years of experience, education, management experience, certifications, industry, and company size to provide fair and balanced salary recommendations.
Another use case of PayScale is addressing compensation-related issues within an organization. The software enables decision-makers to access real-time compensation data quickly, which proves particularly useful for rural companies that struggle with finding accurate information based on job descriptions. Additionally, PayScale Insight is employed by the HR department for pricing new positions, tracking pay trends, determining annual increases, and ensuring fair compensation based on knowledge, skills, and location. Moreover, it assists in benchmarking compensation, determining competitive salary rates, and making merit increase or salary adjustment decisions during performance reviews.
Furthermore, PayScale plays a vital role in helping organizations obtain up-to-date market salary data, benchmark industry and area salary information, and stay informed about the cost of labor in various markets. This enables companies to remain competitive in their compensation strategies while aligning with industry standards. Users appreciate the software's ability to provide accurate information within minutes while maintaining an active pulse on the rapidly changing labor market.
In summary, PayScale is utilized by organizations for a range of use cases, including benchmarking, grading, and reviewing market comparators; ensuring fair compensation and market rates; addressing compensation-related issues; and obtaining real-time salary data for various markets. Its versatility and ability to generate accurate reports have made it an indispensable tool for HR departments looking to optimize their compensation strategies and attract top talent.
Fantastic customer service: Many users have praised PayScale for its fantastic customer service. Reviewers have mentioned that they had a great relationship with their Relationship Success Manager and Account Executive, highlighting the excellent support provided by the PayScale team.
User-friendly interface: PayScale has been described as the most user-friendly tool among the options users have tried. Its intuitive nature has been highly appreciated, making it easy for reviewers to navigate and use the platform effectively.
Customization options: The ability to customize pay structures, create favorites, and create new jobs on the fly is a feature that many users liked about PayScale. This flexibility allows users to tailor their compensation practices according to their specific needs and requirements.
Data Export Issues: Several users have reported experiencing regular issues with the data export feature, finding it to be unreliable and encountering various problems such as corrupt files or incomplete exports.
Inefficient Job Titles: Some users have mentioned that working with job titles in the tool can be challenging and may require additional effort to meet their specific needs. They often need to manually adjust or modify job titles to accurately represent their organization's structure.
Lack of Niche Industry Data: A number of reviewers have expressed a desire for more titles and niche industry data to be added to the offerings. They find it difficult to find matches for unique job positions in specialized industries, making it harder to benchmark salaries accurately.
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Reviews
(1-14 of 14)Companies can't remove reviews or game the system. Here's why
October 07, 2020
Pay Scales in Your Favor
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.
I have set it up to report on all positions in our company and run a monthly report to see how we’re aligned with our desired median rate.
July 24, 2018
Ease of use and live data
We use PayScale Insight to help keep an active pulse on the cost of labor for our various markets. We use the tool across the US and UK. It not only helps us remain competitive to market but it also helps us ensure alignment to our comp guidelines.
July 13, 2018
Great to know that we pay fairly AND well
PayScale Insight is used to track pay trends across the entire company. We also use it to view, on a high level, trends in compensation. We also use it to help set pay when we take on new employees. Each year, we run a bulk report, and then discuss who should have a pay adjustment in addition to whatever merit raise they may have earned.
April 03, 2018
Making Comp easy for all!
HR uses PayScale Insight to benchmark our jobs against market data. We use it to evaluate our salary ranges to ensure they are aligned with market data; this is a review process we do every 2-3 years. We also use Insight to house employee data to evaluate internal equity, salary range penetration, etc. This system has allowed us to ensure we remain as competitive as possible in order to attract and retain good talent.
We're using PayScale company wide to benchmark, grade, and review market comparators in similar roles across the organization. We have PayScale and Mercer data cuts and we've had very good success finding matches for the majority of our roles to date. The ability to bring the grading process in-house has been a great cost saving opportunity for us as we work towards compensation calibration and pay for performance. We're able to build our compensation strategy on a solid foundation that was not possible before due to the cost of outsourcing the market comparison function.
February 26, 2018
An essential compensation resource
We used Payscale Insight to help us price and benchmark our jobs. Our goal in using the software and tools was to ensure that we were paying and/or offering current and potential employees a fair market rate. While we focused our use within the HR department in generating reports and benchmarking, we used the data across the organization where needed. This allowed us to ensure internal equity while keeping competitive with what is going on in the market. We were also able to address any transparency concerns with our employees by revealing how we used data to drive our compensation practices.
February 12, 2018
Great Reports and Good Insight
We used PayScale to get market salary data to help benchmark industry and area salary information. This helped us see where our pay structure fit.
July 20, 2017
Compensation Data that Makes a Difference
We use PayScale within the human resources department to provide compensation data to our organization's decision makers and to support ongoing pay strategies. It's also useful for comparing positions to find the right description that meets the role and expected pay range. It allows us to address pay issues on an organization-wide and individual basis.
July 17, 2017
PayScale: Be the Hero of your Comp Program
We are a rural company and had many issues finding real time data to make compensation decisions. PayScale solved that problem for us. By providing them our job descriptions, we can get accurate - real time data within minutes. It has definitely made us more confident in our compensation decisions, whether it be a new hire or an existing employee.
July 11, 2017
Welcome to Comptopia
Score 10 out of 10
Vetted Review
Verified User
My clients use PayScale Insight to either act as a compensation analyst or to supplement that role.
Score 10 out of 10
Vetted Review
Verified User
Currently we use Insight to price new positions and for annual increases for our employees. Insight is only used by the HR department, however Crew is used companywide during our annual increase cycle. One of the best benefits of using PayScale is the ease of access to salary data. It eliminates the need to research multiple wage surveys when either pricing a position or when verifying that your current salaries are competitive.
June 30, 2017
"No Brainer" purchase for small and large companies!
We use it across the organization. We use it to ensure we have valid salary ranges/bands, pay competitive market rates, set pay for new hires and more.
February 17, 2017
Payscale- Incredibly helpful for providing fair salaries
Currently, my team utilizes PayScale for configuring salaries for new hires and also to figure out increases and promotion salaries for our team. This has been very helpful since it takes into consideration the persons expertise, years of experience, education, management experience, and certifications. In addition, PayScale also pulls info for our industry and size of company. This makes the information and recommendations fair and balanced.