An essential compensation resource
February 26, 2018
An essential compensation resource
Score 9 out of 10
Vetted Review
Verified User
Overall Satisfaction with PayScale Insight
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.
Pros
- 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.
Cons
- 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.
- We wanted to ensure that we were able to support our compensation strategy and decisions with verifiable and trusted market data, and Payscale Insight has allowed us to do that. Now, compensation conversations with employees are more effective and transparent, enhancing our engagement and retention.
- Additionally, we have been able to better train our managers to understand our compensation philosophy and how we can leverage it to improve performance and set effective goals for our employees.
- Payscale Insight has become our main source for compensation data, eliminating the significant time investment it would previously take to bring it all together, review and make a decision.
- ADP Workforce Now and Namely
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