Evan Rodd, Payscale
Hopefully you’re familiar with the many different ways PayScale’s compensation solutions can help your company
benchmark high-demand jobs, attract desirable candidates, and remain
competitive. Utilizing concrete data and analytics, your HR managers are able
to define your company’s labor market and benchmark any job against market
rates. Many companies have experienced great success with the help of
PayScale’s compensation software, but we wanted to take a moment to highlight a
particularly inspiring success story: BuzzBee.
Located in Seattle, Washington, BuzzBee
is a strategic marketing and communications firm that assists companies as they
bring technology products and services to market. Recently, BuzzBee turned to
PayScale Insight to help them master their compensation plan, allowing them to
prevail in the talent wars. Before PayScale, BuzzBee had relied on instinct and
yearly salary surveys to determine their compensation strategy. While this
method helped guide BuzzBee through the recession, they needed fresher, more concrete
data and strategy to grow the company and retain existing talent.
“People are starting to move
around,” says CEO Michele. “Jobs are opening up, and you have to be
really strategic about how you hire and where you get your employees.”
By utilizing PayScale Insight, HR
Manager Lindsay Shaller was able to have a different type of conversation with
BuzzBee’s hiring managers. The fresh market data and intuitive software allowed
Shaller to make educated decisions when it came to her compensation strategy,
and give the company’s hiring managers increased accountability.
“Really, what it did is made us more confident,” says
Shaller. “Instead of just going by our gut, which got us through the recession.
But in order to be able to grow the company we really needed that concrete data, and that’s
what PayScale was able to provide.”
Before PayScale Insight, BuzzBee closed 60 percent of the
offers made to candidates. BuzzBee is now able to close 90 percent of offers
with little negotiation. Additionally, they have retained top employees, and
gained a new sense of confidence in regards to salary and compensation. “When
you’re in the business of professional services, your assets are your people,”
Read the full BuzzBee case study here.