Meet Barnaby Dorfman-Chief Product & Technology Officer. He has been with PayScale for 8 years!
What do you like most about being a leader at PayScale?
Barnaby loves working at PayScale because he believes in the company’s mission and being a part of helping individuals as well as companies get pay right. He emphasized that for many people employment is the dividing line between surviving and not surviving in the world so there is truly a need for PayScale’s services. In addition to PayScale’s wide range of data and services, Barnaby is proud of the original content that PayScale produces on important subjects such as the gender/racial pay equity gap and the value of education.
How do you envision PayScale impacting/fixing the labor market?
The labor market needs to become more data driven and PayScale can help improve efficiency through our software and compensation data. Take the used car market for example; that market is driven by the internet and sites like Carfax.com, which enables consumers to make educated choices when buying a used car. PayScale can make filling jobs easier for employers and finding job easier for consumers through transparent data that makes everyone more informed when pricing jobs. The labor market represents such a large percentage of the world economy, yet we are just starting to scratch the surface because many companies still do not have access to compensation data. PayScale is the solution to this problem and by continuing to grow, we have the power to move the labor market toward greater marketplace efficiency.
If PayScale is successful in fixing the labor market, what would that look like?
It would be much easier for employers to find and retain employees, and turnover would go down. According to SHRM, the average turnover rate in America is 19%, and it can cost anywhere between 30-50% of an annual employee’s salary to replace that person. We would save companies valuable time, money, and resources. Similarly, it would be easier for employees to find jobs that match their unique skills, experience, and abilities to maximize their earning potential.
PayScale has the power to relieve stress and anxiety surrounding pay discussions or salary negotiations because we make compensation market data accessible. PayScale’s transparent data helps prevent misconceptions surrounding pay. Today many people believe that they are underpaid and quit, when they were, in fact, paid fairly in the market- they just don’t know it. PayScale would reduce all those inefficiencies and the whole process of compensating people would become an easier, more fair process for everyone.
Fun fact about Barnaby:
Barnaby loves computers! As a kid, he began programming as a hobby and eventually bought his first computer at age 15. In college, he even built computers and sold them as a side business.
Pictured below: Barnaby and his grandmother, circa 1978, with his first computer (made partially out of wood!)