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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
- 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
- The ability to align with your particular geographic area.
- Ability to modify skills in the job description.
- Very user-friendly. You don’t need a manual in order to use it!
- It’s time consuming to initially set-up. But once you’re there, reports run very quickly.
July 24, 2018
Ease of use and live data
- I can benchmark a role for a particular labor market, and review the details to best understand how the years of experience are relative to compensation.
- It would be great if there were helpful tips on the dashboard to ensure I'm utilizing the tool to its fullest capability.
- A simplified way should be developed to create job leveling for roles. The process seems more manual than it should.
July 13, 2018
Great to know that we pay fairly AND well
- Easy to read reports
- Good visual displays
- Easy to add extra duties and certifications to pinpoint a pay range
- Some newer roles don't have data
April 03, 2018
Making Comp easy for all!
- Payscale has a significant number of job profiles for which you are able to gather market data on. We have roughly 120 jobs at our company and we were able to match all but two, which are very niche to our industry and company.
- Insight offers amazing analytical capabilities. We have employees in other states, so Payscale helped us to create labor markets for each area in which we employ someone so to be able to ensure we are paying them accurately to where they live relative to the DC-market. This contributes to ensuring equitably and fairness with our pay practices.
- Insight does a great job at allowing you to ensure accurate matches. In addition to an array of titles, you can also customize your match with years of experience, education levels, supervisory duties, certifications, specialized skills, and a few other details as applicable, all that contribute to the finalized mid-point match calculated. You can also choose different industries, company sizes, and locations to match against your data.
- You are able to create total comp statements, which was a new offering for our employees.
- I think there is always room to add more titles and niche industry data to their offerings. It would be cool to see an offering that allowed you to submit a request to have a particular title/job to their data listings and Payscale can see who else might be requesting the same kind of niche position.
- It would also be helpful if there was a way to store past salary data for employees.
- Their customer service is fantastic. I absolutely adore my Relationship Success Manager, I still have a great relationship with the Account Executive that brought us on board.
- The tool has some hiccups but overall, of the three tools I demo'ed, it is the most user friendly. PayScale is transparent about the issues they are experiencing and what is on the horizon for improvements of the tool. We all expect some things to go a little wrong or not be the as user friendly as WE THINK it should be, and I appreciate that PayScale acknowledges that and is transparent about what's in the works for improvements along the way.
- I like the ability to customize pay structures, create favorites, and create new jobs on the fly. I've really enjoyed working in the tool and I'm excited to get our data cleaned up so that we can use all PayScale reporting and dashboards have to offer.
- The data export is a little wonky and I tend to have regular issues with it. I report them each time and I get honest, timely answers. I am able to snip straight from the tool, but I think it would be more efficient for me and external users of the information if I were able to consistently export through the tool a great output.
- I wish we could set up a regular file feed and wouldn't have to do manual uploads.
February 26, 2018
An essential compensation resource
- Providing data so that you can ensure you are paying your employees fair and competitively with the market. You are able to make data-driven, confident decisions about compensation that enhance retention and trust between employee and employer.
- Payscale's customer service team is wonderful and always available. Moreover, they are often open to providing more customized solutions if your need is a bit different than the standard package.
- Research into multiple labour markets/locations is a useful tool as we often have to account for differences across our office locations, which can sometimes cross borders and large geographical areas. This ensures that we don't take a blanket approach to compensation and can account for regional differences where required.
- Job titles can prove to be a challenge as they sometimes do not connect as well as you'd hope. This may require some extra work on our part to fit our needs into what Payscale provides. Generally, this is a small concern, but it is still something that should be updated to keep with some of the changes in titles/roles.
- It would be great if Payscale offered an online tool/area for watching recorded webinars or training sessions rather than having to do it live. As others have mentioned, with a busy schedule, it is sometimes challenging to find the time to watch live. Having a database would help ensure that the training can be accessed at any time.
- Options to perhaps break down some of the data in reports to provide to others who are less versed in the contents of the report and the overall system. I'd prefer to have to explain less of what is presented and let the data speak for itself where possible.
February 12, 2018
Great Reports and Good Insight
- PayScale has been great for our organization for benchmarking market salaries and wages for our positions.
- The service was great as well, in that we were able to send our job descriptions over to have our jobs matched with the market.
- The market reports have been extremely helpful and are easy to understand, and being able to see a breakdown between total cash, base salary, and bonus has been great.
- We didn't get a match for all of our positions without having to modify things a bit. That's reality, though, as we have some unique jobs that we understood might be difficult to benchmark going into it.
- The service is a-la-carte, so our subscription didn't provide us with unlimited salary data.
July 20, 2017
Compensation Data that Makes a Difference
- PayScale provides us with up-to-date data to help make compensation decisions for our organization.
- PayScale's team is not only knowledgeable in their product, they also have insight into best practices and strategies.
- Integration with our HRIS would be ideal.
- Providing more focused resources to provide to senior leaders who make most of the final calls.
July 17, 2017
PayScale: Be the Hero of your Comp Program
- Provides up to 3 different market data points
- Customer service is amazing - feel as though they are part of your company
- Real time accurate data
- I am uber satisfied with the system and when I am having technical issues, I simply call or email. They are always quick to respond.
July 11, 2017
Welcome to Comptopia
Score 10 out of 10
Vetted Review
Verified User
- Data continues to improve daily.
- Analytics and reports improve all the time.
- Employee updates are easy.
- Customer support is amazing.
- Keep up with changing titles in the workplace.
Score 10 out of 10
Vetted Review
Verified User
- The data is always up to date. This is extremely helpful when trying to price a hot job.
- Customer service is diligent. Some jobs are niche jobs which can be hard to find a price. The customer service team has always been extremely helpful in these situations and easily help me find the right match.
- The ability to search across multiple labor markets is great. We have 4 locations in the USA and there are times when I need to research whether or not to place a certain position in different regions. Having the ability to research in Ad Hoc to determine what makes sense for our business is very helpful.
- Pre-recorded webinars on product updates would be great. I know they offer webinars, but many times they do not work into my schedule so I miss them. If they had a section on the site for training on product updates or new features that I could view on my own time I think would help me utilize the tool even better.
- The ability to add-in or take away elements in the EE comp report. Some things are just not relevant to a company. I know a new release recently came out on the EE comp report and I am not a fluent with it as I once was (this is where the pre-recorded webinar or a learning byte would be helpful), but previously there were 3 versions of the EE comp report you could use. If I could add-in or drop-out sections to customize it to my company it would be nice.
June 30, 2017
"No Brainer" purchase for small and large companies!
- On demand access to very detailed and custom salary reports
- Easily see where we are paying under or over market
- Access to compensation experts
- Access to compensation management training
February 17, 2017
Payscale- Incredibly helpful for providing fair salaries
- PayScale is easy to use and walks you through the criteria that you need to input on the candidate.
- This tool also allows you to save reports and information for future use.
- The data that PayScale has access to is so incredibly helpful, it really helps to ensure that you are paying your staff correctly.
- Sometimes it can be difficult to find a niche job title. Often you have to find another title that is closely related in order to pull data.
- It would be nice to be able to view resources for bonus info per industry and variable pay, right now this is not something that is easily searchable.
- Access to online training is only provided through live interaction with a rep. I sometimes like being able to read through materials or have an online sandbox.