Texas Woman's University's compensation process was so labor intensive, by the time they were finished, the pay data was no longer current.
TWU consulted with an external compensation consultant in 2012. "We wanted to make sure what we were doing was accurate," said Long. "The consultant recommended we use a better tool, such as published salary survey data, both to save time and improve our competitiveness."
After meeting with several vendors, TWU selected PayScale’s on-demand salary database. "First, the price was really good for the package deal. Second, we could extract the PayScale data and use it elsewhere, and that was huge. It gave us the ability to work with the data ourselves," said Long. "Plus, with PayScale we could load other surveys specific to higher ed into the database, giving us a broader view. PayScale also analyzed our 400+ positions upfront which assisted with the implementation process."
With PayScale, TWU reduced the number of positions they had to internally benchmark. "We found more matches using PayScale than we did when we were just looking at data from other universities. With the old process, we’d have to manually benchmark many staff positions. With PayScale, the number was greatly reduced. We were amazed," said Hall. "We were concerned that we wouldn’t be able to find many positions specific to higher education. However, we found jobs in PayScale with similar responsiblites that were comparable to our staff positions. For this reason, I would definitely recommend PayScale."
TWU’s compensation data had been based on a limited sample size—provided by an industry association. With PayScale, TWU now has the most up-to-date, timely compensation data and can instantly address employee questions and concerns about pay.
Today, TWU knows their salary matches are competitive with higher education and other organizations. As the competition for talent increases, ensuring salaries are commensurate with similar roles in other industries is crucial to attracting and retaining top talent. "We wanted our staff salaries to be more competitive to attract applicants. Our salaries now are more competitive because of PayScale," said Hall.