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PayScale Insight Lab

PayScale Insight Lab

Overview

What is PayScale Insight Lab?

PayScale Insight Lab is a sales intelligence software solution offered by PayScale, Inc.

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Recent Reviews

TrustRadius Insights

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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Pay Scales in Your Favor

10 out of 10
October 07, 2020
Incentivized
PayScale Insight Lab is mostly being utilized by the HR department to benchmark compensation and to determine competitive compensation for …
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Pricing

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What is PayScale Insight Lab?

PayScale Insight Lab is a sales intelligence software solution offered by PayScale, Inc.

Entry-level set up fee?

  • No setup fee

Offerings

  • Free Trial
  • Free/Freemium Version
  • Premium Consulting/Integration Services

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Product Details

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 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 TypesSoftware as a Service (SaaS), Cloud, or Web-Based
Operating SystemsUnspecified
Mobile ApplicationNo
Supported LanguagesEnglish

Frequently Asked Questions

PayScale Insight Lab is a sales intelligence software solution offered by PayScale, Inc.

CompXL, PayScale Payfactors, and CompAnalyst are common alternatives for PayScale Insight Lab.

The most common users of PayScale Insight Lab are from Mid-sized Companies (51-1,000 employees).
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Comparisons

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Reviews and Ratings

(25)

Community Insights

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!

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.

Attribute Ratings

Reviews

(1-14 of 14)
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October 07, 2020

Pay Scales in Your Favor

Score 10 out of 10
Vetted Review
Verified User
Incentivized
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.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Some employees are convinced they are not being fairly compensated. Once we had all positions defined correctly, we could see in some instances this was correct, but in others, we were within the median we wanted to be. We also found some that are way over. In some cases that’s ok but in others not. We have concrete data to work with and more transparency with PayScale Insight Lab.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
PayScale is great when you want to sync what the current pay rate is to what the market is indicating the trend of compensation is. It isn't the best for keeping all employee detail in the system. (It doesn't really help to add performance data in as that's also kept in our performance system, and multiple sections for scores can't be compared).
Stephanie Opoku, SHRM-CP, CIR | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
If you have a large employee base and you are trying to remain competitive from a compensation perspective, this tool is well suited to help you accomplish this goal. If you are not a comp expert, they have experts on hand that can help you through projects or just answer basic questions.
Kelli Hathman | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
I think for a very large organization (I came from +18k benefit eligible employees) it would be very difficult to keep this tool organized because of the manual uploads. It seems to work very well for us, at less than 500, and there are a lot of perks to having the flexibility to change the uploads as we see fit.
Matt LeMaire, B.A., M.A. | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
If you're looking to price or benchmark the roles in your organization, Payscale Insight is a great tool to have on your side. You are able to ensure that you use updated market data and can be confident that you are making an informed compensation decision. However, in situations where the individual or individuals using Payscale Insight have to consistently translate the compensation data to those not well-versed in compensation practices, it can prove challenging. If you already have a well-managed and effective compensation strategy in place, Payscale Insight might not be the best investment overall. With that said, it's important to be proactive, so it might prove useful to consider how to future-proof your compensation practices/data with the use of Payscale.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
PayScale is a good fit when you have in mind exactly how many jobs you want to benchmark and get data for. If you have several jobs and you're looking for salary information on all of them, the price will increase exponentially.
Jason Magill | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
PayScale is particularly suited for mid-sized organizations which don't have the typical resources of an enterprise solution. The setup for jobs and structures provide several areas for customization, such as niche licensing, that may affect compensation. It's also helpful with better defining existing positions that have further developed over time. For example, we just transitioned a job class to a new assistant manager class partially based on the descriptions provided by PayScale.
Julie Mathis, PHR, SHRM-CP | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Because we have 4 locations, PayScale was a perfect fit for us. I was able to set up labor markets for those locations which helped me make sure that our wages were competitive with each market. Initially I signed up with PayScale to complete a wage analysis of my current workforce. Since then the relationship has evolved to using Crew for our annual increase cycle.
Ariel Lopez | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
PayScale is great for figuring out the correct compensation for new employees and taking into account their experience and everything they bring to the table. It is also great for creating salary increase forecasting for your entire team. Having access to trends and what other companies in our market are offering so that we can stay competitive is incredibly helpful.
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