Making Comp easy for all!
April 03, 2018
Making Comp easy for all!
Score 10 out of 10
Vetted Review
Verified User
Overall Satisfaction with PayScale Insight
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.
- 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.
- Insight has reduced the amount of time spent on determining where to slot a job in our structure. In the past we used multiple paper-source salary surveys so a lot of time was spent on fingering through binders to find the best match and then trying to determine how that compared to current jobs equivalent in stature.
- The first time we went through this process, we did determine that changes that needed to be made to the structure did pose some negative impact on certain employees (ex. it was determined that one job was slotted in a grade higher than it should be so once we reclassified these folks, we determined that some of them were above the lowered salary range and became redlined. While this had a visually negative impact, we made efforts to promote these individuals or create development plans to get them back into a higher grade.
- We now have access to these very detailed market reports, which we can print and share with managers. These reports aid in helping our communication with managers be much more efficient and effective. We are able to present "evidence" if you will on where the markets places any new roles as they have designed them. It has given HR more credibility in our recommendations.
- MarketPay
Insight offers more effective analytics than MarketPay did. It's more user-friendly and allows us to expand our compensation initiatives.