Seattle, WA – January 30, 2019 – Today, PayScale, Inc., the leader in modern compensation software, announced it now offers its customers access to rich Company Sourced compensation data collected from more than 2 million employees at 1,143 companies. Organizations can now use PayScale’s compensation platform to garner new insights into employee pay by analyzing any combination of PayScale Company Sourced Data, PayScale Crowdsourced Data or external compensation survey data. PayScale’s Company Sourced data set is refreshed quarterly vs. the annual industry standard, providing access to fresher data from employers.
“PayScale Company Sourced Data helped me provide a better, more accurate comparison for the position that I was looking to benchmark. Without the PayScale Company Sourced Data, I may have comped the position inappropriately,” said Michelle Huse, PHR, CCP, Director of HR Consulting, Baylor University.
Combined with PayScale’s 2016 acquisition of market-leading compensation survey management company, MarketPay, the rollout of Company Sourced Data allows customers to harness the power of views into multiple compensation data sources in order to make smarter, more informed decisions about pay at their organizations.
“Our customers have realized the benefits of using our rich crowdsourced compensation data set to make more informed pay decisions for many years. Because we realize that managing talent at today’s companies is becoming increasingly complex, our goal was to build on the success of our initial data set to provide our customers with the most advanced analytics platform and the ability to choose from a wide variety of data sources,” commented PayScale Senior Vice President Tim Low. “It’s about getting pay right for their talent and, ultimately, providing companies a competitive business advantage. With the addition of Company Sourced Data, which requires no additional input or participation, our customers have access to the most modern and complete compensation platform available.”
In today’s tight talent markets, companies need to be even more vigilant in evaluating and addressing their pay practices. PayScale affords companies of all sizes the ability to leverage big data to attract and retain the right people at their organizations. Using machine learning via PayScale Helix, customers can automatically benchmark jobs to the compensation datasets they’re utilizing.
“Transparency in compensation is critical, to help companies make smarter decisions regarding every facet of pay for their employees, and to build employee trust in those decisions,” said Mollie Lombardi, principal analyst, m.Research. “Senior managers and executives realize that feeling valued and fairly paid can equate to better business outcomes. By allowing companies to access more compensation data, PayScale ensures more businesses that their comp packages are fair, and – just as importantly – that employees also view them as fair.”
For more information, please visit: https://www.payscale.com/hr/company-sourced-data
PayScale offers modern compensation software and the most precise, real-time, data-driven insights for employees and employers alike. More than 8,000 customers, from small businesses to Fortune 500 companies, use PayScale to power pay decisions for more than 23 million employees. These companies include Dish Network, Getty Images, Skullcandy, Time Warner, T-Mobile, Macy’s, Sunsweet, UnitedHealth Group, Stihl and Wendy’s. For more information, please visit: https://www.payscale.com/ or follow PayScale on Twitter: https://twitter.com/payscale.
PayScale offers modern compensation software and the most precise, real-time, data-driven insights for employees and employers alike. More than 8,000 customers, from small businesses to Fortune 500 companies, use PayScale to power pay decisions for more than 23 million employees. These companies include Encana, The New York Times, Sunsweet, T-Mobile, United Health Group, Wendy's and Perry Ellis. For more information, please visit: https://www.payscale.com/ or follow PayScale on Twitter: https://twitter.com/payscale.