PayScale Grows Rapidly in Enterprise Compensation Market
PayScale experiences broad adoption of its modern compensation software in large, global organizations; the leading compensation solutions company now powers smart pay decisions for more than 13 million employees
New Orleans, LA – June 20, 2017 – Today, at the 2017 SHRM Conference, PayScale, Inc., the leader in cloud compensation technology, announced it has added more than 700 new customers this year, including 51 customers with 5,000 or more employees—among them Ford, Cisco, McAfee, Astrazeneca Pharmaceuticals and TaskUs, Inc. In April 2016, PayScale added MarketPay, the market-leading salary survey management product used widely in large organizations, to its portfolio of applications.
Research shows 39 percent of enterprises use market salary data at least once per week to more accurately price talent, as they strive to attract and retain the best people to drive their businesses forward. “We’ve seen accelerated interest in PayScale across the enterprise segment since we added MarketPay’s sophisticated tools for data and survey management to our platform,” said Mike Metzger, CEO of PayScale. “Innovative tools for managing and merging different sources of salary data are now powering smarter decisions for organizations as they face the most competitive talent landscape in many years.’
Digital Disruption Is Driving Change
In years past, large organizations typically relied on salary survey data that was collected once each year—often by large consulting firms. While many organizations continue to use this type of data, many are also increasingly looking for new, real-time salary data sources such as PayScale which are better at reflecting changes in talent market dynamics, thus keeping companies abreast of the evolving competitive landscape and ensuring they are paying people the right way.
Market Insights Provide a Competitive Edge
As industry after industry experiences digital disruption, new jobs and skills are emerging at a feverish pace. Compensation tools which allow companies to keep pace with required skills, and the relative market value of those skills, are critical to help organizations see trends as they emerge and understand how new skills are priced in various sectors. Being able to price jobs in dynamic talent markets is increasingly a real advantage for companies competing for in-demand skills such as data science or software engineering, for example.
PayScale uses statistical analytics and the power of the cloud to deliver dynamic salary matches for every position at a company. PayScale has created the world’s largest compensation database with tens of millions of salary profiles. The compensation data is refreshed daily, powered by up-to-date information from a portion of the PayScale.com website’s nearly 12 million visitors each month. PayScale’s salary database contains more than 15,000 job titles and allows organizations to drill into dozens of compensable factors to better understand what impacts pay for a given position. PayScale also offers applications designed to help managers collaborate easily and effectively with HR and compensation teams around critical compensation decisions.
PayScale is headquartered in Seattle, WA with offices in Denver, CO and Cary, NC. For more information, visit www.payscale.com
PayScale offers modern compensation software and real-time, data driven insights for employees and employers alike. More than 6,500 customers, from small businesses to Fortune 500 companies, use PayScale to power pay decisions for more than 16 million employees. These companies include Dish Network, Getty Images, Skullcandy, Bloomberg BNA and Time Warner. For more information, please visit: https://www.payscale.com or follow PayScale on Twitter: https://twitter.com/payscale.