Laleh Hassibi, PayScale
Financial Pacific Leasing is an equipment leasing company located just outside of Seattle in Federal Way, Washington. The company employs approximately 120 people. PayScale talked with Heather Bolek, Vice President of Human Resources, to learn more about how PayScale Insight helps their business.
What do you like best about PayScale?
“I tend to be skeptical about the accuracy of some non-traditional and web-based compensation data; however I feel confident in the integrity of PayScale’s data. I appreciate the fact that PayScale collects a deep set of data points from many employees and filters it to make sure the data used by employers is accurate and reliable. I also like that I can quickly customize the reporting based on my needs I’ve been impressed with everyone I have worked with at PayScale. The team is responsive and professional. In addition to getting the job done, one area that is important to me when choosing a company to do business with is the people I’ll be interacting with. I enjoy working with the employees at PayScale and they make my job easier with the service they provide.”
“We use PayScale Insight in two primary ways; preparation for annual reviews and periodic position reviews. For our annual salary reviews I run reports to look at employee’s compensation relative to their grade and the market. This gives me an idea of potential compensation issues with employees or groups of employees that may be either under or over market.”
“I also use PayScale throughout the year to review compensation for specific positions. If we find that we are having difficulty recruiting good candidates, or if we have a sense that the market for a position has changed, I will run reports to provide current data and then use that data to make smart decisions about compensation.”
How has Insight saved you money?
“Last year, I used PayScale to price a position that I suspected was under market. I found that we were paying less than the prevailing market rate. I used the PayScale data to present the case to our leadership team to increase compensation for that position. Even though we spent more money to increase employee pay, we saved even more money in avoided turnover costs. It was a very good business decision because it had a positive impact on employee morale, retention and recruitment.”
Have you saved time?
“My HR department is relatively small; there are only two of us who provide HR service in all areas. In the past I have had someone who shared the compensation role. Currently I work with compensation on my own. I have been able to use PayScale to save time and substitute for the loss of that shared expertise.”