G2 Awards highlight faster ROI of Payscale solutions

It’s the time of year when many managers and organizations are busy conducting annual performance reviews. At colleges everywhere, students have received their semester or quarter grades. In the world of technology, G2 is providing Payscale and other software providers with reports about how we’re doing.

If you’re not familiar with G2, their research scoring methodologies are based on reviews gathered from real-life software users, as well as data aggregated from online sources and social networks.

In their words, the end of Q4 provided an opportunity to once again “pause and reflect on the successes of software companies across the globe.” Their Winter 2023 insights span 14,090 total products across 967 categories.

Leading G2 reviews from real-life Payscale users

When it comes to comparing compensation management platforms, G2 Crowd serves as a trusted source in the industry. It is the voice of real-life users providing real-time reviews.

For Payscale, G2 Crowd offers an honest, unbiased view of what our customers think about our portfolio of products. That’s why it means so much to all of us that we received 24 G2 Awards for Winter 2023.

From support and setup to implementation and usability, each of these badges represents the tangible ways in which we help customers on their compensation journeys.

The importance of ROI in choosing compensation solutions

Whether it’s increasing efficiencies, delivering better customer experiences, or innovating in the market, organizations need modern software. Companies of every size and across every industry are using software to run their operations.

As the possibility of a recession looms, the option to purchase software isn’t a given. Budgets are flat. Layoffs are taking place. Now more than ever, demonstrating the return on investment (ROI) is required.

That’s especially true when it comes to HR technology solutions. When you purchase a compensation management solution (or ATS or HRIS), it needs to demonstrate ROI.

What contributes to the ROI of compensation management software?

When looking at five-star reviews across our portfolio, we see consistency in what customers value most about our products:

  • Usability
  • Innovation
  • Customer service
  • Product development

Not surprisingly, these are also attributes that lead to ROI. Usability, innovation, service, and product development all enable HR and compensation professionals to do their jobs and do them well.

With the right compensation solution, compensation professionals are empowered and able to leverage data from multiple sources to benchmark jobs and build pay ranges, all while monitoring pay equity and ensuring regulatory compliance.

It’s not just about HR. The right compensation software also drives ROI throughout the organization with faster salary reviews, reductions in expensive data-entry errors, and scalable compensation operations. These improvements create long-term ROI and benefits in terms of talent acquisition, turnover, and employee engagement.

Payscale’s solutions drive results with faster ROI

One thing is clear: ROI is an important metric. However, the speed to achieving ROI is equally important.

With that in mind, G2 asks users to estimate their time to ROI with a product when they leave a review. ROI data in G2 is calculated purely by customer estimate. Based on that Q4 data, Payfactors and MarketPay solutions beat the competition in estimated time to ROI.

Many variables are involved in assessing the potential gains and costs of a software solution. It’s not an easy task. In fact, many of the benefits are invisible. But by comparing the time to ROI, you’re one step closer to understanding the best route for driving results.

Collective wisdom can help take the pain out of purchasing decisions for everyone.

Hear more from Payscale customers in the Winter 2023 G2 Winter Report.