Seattle, WA – April 15, 2020 – PayScale, Inc., the leader in on-demand cloud compensation data and software, today announced the company will provide a free one-year subscription for its Crowdsourced and Company Sourced compensation datasets to PayScale MarketPay customers.
The announcement comes at a time when most businesses are experiencing unstable economic conditions with government-mandated closures, employees exiting the workforce and significantly reduced revenues due to the Coronavirus pandemic.
“As businesses navigate the economic volatility caused by the COVID-19 crisis, they need the most current and accurate compensation insights to make more informed decisions about pay across their workforce,” said PayScale CEO Scott Torrey. “We recognized that we could alleviate some of the financial stress and time required to address workforce compensation issues by donating two rich datasets when our clients need it most.”
PayScale’s Crowdsourced Data provides businesses with the ability to keep a pulse on the ongoing changes in our shifting talent market. More specifically, this dataset offers customers:
- The freshest compensation dataset available with data updated weekly
- Data insights from the world’s largest compensation database containing 65 million salary profiles collected from employees across the U.S. and Canada
- Data collected from payscale.com which attracts 10 million visitors and adds 300,000 new profiles each month to ensure businesses have the most timely, accurate and comprehensive data on the talent market
- Compensation insights beyond just title to include a wide array of compensable factors such as specific skills, certifications, geographic location, education and industry.
- A data set built on more than 15 years of expert analysis and curation to ensure accurate compensation insights
Employees who want to join PayScale’s data-sharing community to know their worth and #getpayright while employment and market conditions are in flux should visit www.payscale.com.
PayScale is also donating its Company Sourced Data, offering companies one of the most up-to-date employer-sourced datasets available.
This dataset includes:
- Data from 1,900 participating companies including Fortune 1000 companies and medium-sized organizations, across a broad range of metro regions and industries in the U.S.
- Aggregate compensation information reflecting pay from 2.5 million employees and 5,500 jobs, data is anonymized and updated quarterly.
- The combination of artificial intelligence and machine learning to save compensation professionals time by automatically matching jobs with the appropriate pay—a painstaking and time-consuming task today.
- Exceptionally strong data in the healthcare, manufacturing, finance, insurance, education, technology and energy industries— sectors currently on the front lines of the COVID crisis.
Torrey concluded, “During these times of uncertainty, it’s more important than ever to have the most current data to inform strategic decision making, which is why we think it is so important to provide these critical insights to our customers at no cost right now.”
PayScale provides an agnostic compensation platform designed to give businesses the flexibility to utilize external compensation data sources to fit the specific needs of their company. Companies using MarketPay can leverage Crowdsourced Data, Company Sourced Data and third-party survey data, all in a frictionless way.
For more information about PayScale’s compensation data available at no cost to MarketPay customers, please visit: https://discover.payscale.com/free-data/
As the industry leader in compensation data and technology, PayScale helps organizations #getpayright. PayScale is the only technology solution for managing compensation that provides multiple streams of fresh, transparently curated, and validated salary data. Combined with modeling engines that learn continuously and generate recommendations and insight, PayScale empowers HR to price jobs and adjust compensation to reflect near real-time changes in the market — all on one trusted data platform. With PayScale’s Adaptive Compensation Advantage, teams operate with efficiency, focused on outcomes rather than manual data management. To learn how companies like The Washington Post, Perry Ellis International, United Healthcare and The New York Times rely on PayScale to attract and retain top talent, engage employees and plan their future workforce, visit payscale.com.