Inside Macalester College
- Confidence Talking Comp
- Retain Talent
- Improve Performance
- Enable Growth
Location: St. Paul, MN
Number of Employees: 700
Prestigious college creates transparent, fair, market-based compensation program to attract and retain key talent.
Macalester College, a small, prestigious liberal arts college in Minnesota founded in 1874, is known as a great place to work. Its combination of location and mission make it welcoming and desirable to students and employees alike. But the world of higher education is experiencing great change, and Macalester is not immune to that change. They are reinventing parts of their curriculum, reaching new audiences with different and innovative programs, and generally navigating a rapidly evolving market. This means that their need to attract and retain the right talent to support Macalester's mission to educate young men and women in the liberal arts tradition is high. Understanding their market for talent and the associated compensation dynamics was becoming more important.
Macalester had sometimes purchased individual surveys or reports from industry associations in the past. While this gave them some market information, they weren’t always confident it informed their decision-making in the right way. That market data had to be massaged to make it fit to the skills, education, experience levels, and certifications for their academic jobs. Also some jobs on campus are not academic jobs, and those were also difficult to benchmark before they subscribed to PayScale Insight. With PayScale, they are now able to:
- Get precise market pricing for all positions across the college, not just academic jobs.
- Control labor costs by paying people exactly what they are worth.
- Attract key talent with competitive, market-based offers.
- Retain talent and improve performance by having greater transparency about compensation.
Macalester was really focused on creating a data-informed system to manage compensation. PayScale allows them to save time in pricing jobs to attract candidates, and match pay of valuable employees to their worth in order to improve retention. It also enables greater transparency and the ability to have frank and open conversations about compensation that were less easy in the past when they were less informed by market insights.
More than 2,500 organizations use PayScale's subscription software to:
- Allocate raises. PayScale Insight allows you to allocate raises based on employee
performance and labor budget.
- Attract talent. Price jobs based on your local market and competition.
- Retain employees. Get pay right and show them how you did it. Your employees
will be more satisfied to stay.
- Drive performance. Get their salary right so they can focus on doing a good job.
- Be confident. With know-how to talk about comp with anyone.
What are you waiting for?