It all starts with high quality data. When you’re dealing with high stakes and difficult decisions, there is little room for error. Accuracy is key. This can be difficult to achieve even when you are dealing with just a single source of data.
But as we all know, these days, the role of the HR specialist is becoming even more complex. You likely have to juggle multiple data sources, including your organization’s 401K provider, the health benefits provider and the HRIS provider, just to name a few. And you have less and less time, yet are expected to do more and more with your day.
So how do you manage it all? If you’re still using spreadsheets, you’re relying on outdated technology. A better way exists to make timely business decisions.
How PayScale’s Data Organizer Works
With PayScale’s Data Organizer, the data from those different sources is pulled together seamlessly. We then apply machine learning to the data. This allows the model to learn from each transaction. The quicker the machine learns, the sooner it can make predictions. This all leads to more value-added outcomes for you and for your employees.
And what do we do with that data? We take in skills, compensation, demographic data and more. We are able to read and analyze skills. Using the millions of rows of data that come in daily, we are able to observe compensation trends for “hot jobs” and predict the trajectory of those jobs within the next 6-12 months. These tools are especially useful in the uncertainty of today’s economy.
PayScale’s Data Organizer Empowers Your Team
Our system can take data from different places and aggregate it into one centralized location. This enables the user to leverage that information to make better decisions.
Have you ever interviewed someone and thought “they aren’t the perfect match for my role but they really have the values of our company so we need to find a place for them?” PayScale can help you identify those places.
That’s just one of many ways of how our data can help you attract and retain the best, regardless of the job market. You need everything in one system to give you real insights. It’s not about just transactional data. It’s not just about referential data. You need both in the same platform to give you proper analytics. The type of analytics that are going to propel your organization forward based on the power of your talent.
Boost Your Organization’s Retention Rates
Within your system, you have basic referential employee data such as job title and location. However, you also have transactional data about pay cycles and/or promotions. Together with PayScale analytics, this data can help you track the different stages of the employee lifecycle. Furthermore, it can help predict future career paths.
This enables you to have transparent conversations with those valued employees. Stay one step ahead, by letting them know what possible career paths lie ahead within your organization, before they start thinking about job opportunities with your competitors.
In today’s market, it’s important to have reliable data and HR services you can rely on. PayScale can help you make precise and strategic compensation decisions with greater confidence. Want to learn why our 8,500 clients chose PayScale? Learn more about PayScale here.