Evolution and scale of our products and services was a key part of our company strategy, which meant taking on new talent and roles for which we did not yet have compensation structures. I knew that we needed a partner like Payscale to support our ambitious goals. With Payscale, we have a trusted source for salary data as well as the right tools and technology for where we’re at in our journey — and where we’re headed. Payscale’s ability to grow and scale with us provides flexibility to go as fast as we want or as slow as we need depending on what our business activity is at the time.”
Where Payscale makes an impact
Market Pricing
Increased speed of hire by reducing turnaround time for job pricing requests
Pay Optimization
Avoided tens of thousands in under/over payment for individual roles
Pay Comms
Trained leaders to have performance-based comp conversations
Company & Challenge
Centauri Health Solutions is a private equity backed company that provides innovative technology and services to payors and providers in government sponsored health programs. The company saw significant expansion in 2017, increasing in size from 120 to 600 employees due to multiple acquisitions. This is also when the utilization of Payscale’s compensation software, data and services began. Today, the company has eight main regional locations and over 1,700 employees working across the United States. With a rapid growth trajectory, it was imperative to leadership that a compensation strategy and formalized program be developed that could align with the speed of their business.
Initially, while salary data was being utilized in job offers, there was no structure or policy behind job pricing. The people department was also anticipating the excitement of future mergers, acquisitions and the implementation of a new HCM system. Acknowledging all of this, the CHRO was compelled to sit down and develop a plan for how to leverage the Payscale partnership and his team’s collective experiences to drive Centauri’s bold business initiatives.
Where Payscale makes an impact
Market Pricing
Increased speed of hire by reducing turnaround time for job pricing requests
Pay Optimization
Avoided tens of thousands in under/over payment for individual roles
Pay Comms
Trained leaders to have performance-based comp conversations
Solution
Payscale provides the technology, adaptive salary data, and professional services that have supported the development and management of Centauri’s modernized compensation program. What started as basic benchmarking and annual pay reviews has transformed into a robust compensation strategy with a performance-based pay philosophy – all accomplished in a three-year timespan.
Centauri has leveraged Payscale’s expertise every step of the way. Partnering with a compensation professional on the services team to build a pay structure, seeking recommendations on pricing difficult jobs, attending educational webinars, or keeping up to date on market trends are just examples of how the partnership has influenced business decisions over the years.
A key component of success was starting with a solid foundation internally. Essential steps included:
- Standardizing job descriptions and gathering accurate details from managers
- Internal alignment to ensure the right people were in the right roles
- Gaining buy-in from leadership on the importance of using data informed by market strategies
Outcome
Having a developed compensation program increased the team’s efficiency and allowed them to stay focused amid other initiatives taking place. New jobs could quickly be benchmarked and slotted into the structure and acquired markets could be assessed and analyzed. Program maturity also enabled the creation of a variable merit matrix system so that employees could be rewarded according to performance. Lastly, an internal leadership training was produced in collaboration with Payscale to boost employee confidence in their salary during pay conversations with managers to ensure a positive experience with the company.
Ultimately, the partnership with Payscale has helped balance recruiting and retention efforts with budgeting and rapid growth. For example, in some cases, the organization’s compensation strategy and structure has resulted in avoiding tens of thousands of dollars in under- or over-payment for a single role. This financial benefit has aided the ability to offer competitive total rewards packages to motivate company performance targets. Such a dialed-in approach would not have been possible without having trust in the Employee Reported data and guidance backed by Payscale.
Centauri is now well-positioned to navigate the ever-changing world of compensation and take the next step forward on their journey. This will require investing in advanced analytics, adding more salary data to the mix, and keeping the spotlight on internal equity, diversity and inclusion. The mission is to continuously evolve the impact of the compensation program on powering the business’ overall goal of simplifying access to healthcare systems.
Payscale has been a tremendous partner in maturing our compensation program. They have provided us with the right data, software and services to adapt and evolve amidst rapid growth and change.
Solution
Payscale provides the technology, adaptive salary data, and professional services that have supported the development and management of Centauri’s modernized compensation program. What started as basic benchmarking and annual pay reviews has transformed into a robust compensation strategy with a performance-based pay philosophy – all accomplished in a three-year timespan.
Centauri has leveraged Payscale’s expertise every step of the way. Partnering with a compensation professional on the services team to build a pay structure, seeking recommendations on pricing difficult jobs, attending educational webinars, or keeping up to date on market trends are just examples of how the partnership has influenced business decisions over the years.
Start your own transformation
Learn how Payscale can help bring modern pay practices, salary data, and compensation management technology to your organization.
“With Payfactors, we have replaced our labor-intensive spreadsheet job pricing process with a system that works like a dream. We are able to match to benchmarks within the system, easily get up-to-date pricing and age for future cost planning. We’ve cut our process time down by at least 80%."
"Payfactors is a game changer for your market pricing needs. I can provide fast and accurate market data to management in a very easy-to-produce, elegant report."
“Marketpay — concise, consolidated, and clever. Repeatable reporting helps to set an expectation for the internal client and provides a clear understanding of the market comparable to internal jobs.”
"[Payfactors’] analytical dashboards are game-changers for the way we work. They make us more likely to renew. I would want to keep it just to be able to pull data in real time without spending half a day prepping 18 Excel documents. Being able to go in, have our data ready, and see the fancy graphs is amazing. I would just say, keep doing what you're doing — we really love it."
“With Payfactors, we have replaced our labor-intensive spreadsheet job pricing process with a system that works like a dream. We are able to match to benchmarks within the system, easily get up-to-date pricing and age for future cost planning. We’ve cut our process time down by at least 80%."
"Payfactors is a game changer for your market pricing needs. I can provide fast and accurate market data to management in a very easy-to-produce, elegant report."
“Marketpay — concise, consolidated, and clever. Repeatable reporting helps to set an expectation for the internal client and provides a clear understanding of the market comparable to internal jobs.”
"[Payfactors’] analytical dashboards are game-changers for the way we work. They make us more likely to renew. I would want to keep it just to be able to pull data in real time without spending half a day prepping 18 Excel documents. Being able to go in, have our data ready, and see the fancy graphs is amazing. I would just say, keep doing what you're doing — we really love it."
“We initially looked at other vendors who could help us in this area, and we just didn’t find what we were looking for in terms of the level of partnership and expertise that Payscale could provide. It was important for us to make sure that the information we were receiving was reliable and to have it come from a trusted source. We can now confidently say we are looking at compensation in a way that will ensure that we’re building for the now as well as the future.”
“We've used Payfactors for five years. I’ve loved seeing the evolution of the product, - especially after the merger with Payscale.”
“We initially looked at other vendors who could help us in this area, and we just didn’t find what we were looking for in terms of the level of partnership and expertise that Payscale could provide. It was important for us to make sure that the information we were receiving was reliable and to have it come from a trusted source. We can now confidently say we are looking at compensation in a way that will ensure that we’re building for the now as well as the future.”
“We've used Payfactors for five years. I’ve loved seeing the evolution of the product, - especially after the merger with Payscale.”
"Our biggest challenge as compensation specialists is moving at the speed of business. When it comes to people's pay, you have to get it right. And to stay competitive, particularly today, you have to get it in place right away. Payscale gives us current, real-time market data and a streamlined way to access the information we need for analysis and validation."
"Our biggest challenge as compensation specialists is moving at the speed of business. When it comes to people's pay, you have to get it right. And to stay competitive, particularly today, you have to get it in place right away. Payscale gives us current, real-time market data and a streamlined way to access the information we need for analysis and validation."
“We've used Payfactors for five years. I’ve loved seeing the evolution of the product, - especially after the merger with Payscale.”
"Our biggest challenge as compensation specialists is moving at the speed of business. When it comes to people's pay, you have to get it right. And to stay competitive, particularly today, you have to get it in place right away. Payscale gives us current, real-time market data and a streamlined way to access the information we need for analysis and validation."
"Our biggest challenge as compensation specialists is moving at the speed of business. When it comes to people's pay, you have to get it right. And to stay competitive, particularly today, you have to get it in place right away. Payscale gives us current, real-time market data and a streamlined way to access the information we need for analysis and validation."
“We've used Payfactors for five years. I’ve loved seeing the evolution of the product, - especially after the merger with Payscale.”