Pay Transparency Software: The Future of Pay is Transparent
Recent pay transparency legislation and worker expectations are forcing organizations to swiftly and fundamentally change how they approach pay. Payscale has a comprehensive solution that empowers organizations with consistent compensation practices to increase confidence pay decisions.
The growing power of pay transparency
Legislation requirements
Influential states and cities are rapidly enacting pay transparency legislation that requires organizations to include salary ranges in job postings, increasing visibility in pay practices and impacting all companies with remote workers.
43.7% of current job postings include salary ranges (HiringLab)
Cultural shift
The workforce continues to press for change creating a wave of cultural shifts; the average employee is evolving and demanding more transparency, openness and fair pay.
73% of US workers are more likely to trust organizations that provide a salary range in job postings (SHRM)
Payscale’s Pay Transparency Software Solution
Pay Transparency from Payscale is a comprehensive solution combining salary data, compensation management software, and professional services that empowers organizations to develop fair and equitable compensation to increase confidence in salary ranges posted on job descriptions, openly communicate pay, and build trust in consistent pay practices.
We help you create or retool your compensation philosophy and pay strategy to embed fair pay as part of your talent strategy through professional services.
We help you build a foundation with a competitive market data strategy leveraging HR-reported data through Peer and Employee Reported data that is proven to accurately reflect the market.
We help you develop standardized salary structures that ensure fair pay, resulting in pay ranges you can confidently post on job descriptions.
We help you facilitate training with your managers on your pay philosophy and pay structures to empower managers to have effective pay conversations and improve employee relationships.
Communicate pay to your employees through tools and resources to improve pay perception and build an engaged workforce of employees who understand their pay.
Access real-time information about your compensation strategy and pay to share with business leadership and people managers.
Outcomes of the Pay Transparency Solution
Ready to kickstart your pay transparency journey?
Untap the power of Payscale’s Pay Transparency Solution
Reliable market data to drive a competitive pay strategy
Peer
Highly transparent, customizable and up to date HR reported market data to help organizations drive a competitive pay strategy against the market as you define it.
Employee Reported Data
Granular market data that is collected from employees in the workforce and meticulously validated, giving you visibility into the same data your employee could be using. Data is collected daily, providing a pulse on the market.
Robust technology to develop transparent and equitable compensation practices
Payfactors
Robust technology to streamline the creation of a transparent and equitable pay strategy, with robust pay structure capabilities and a variety of standard reports to identify where you stand and assess competitiveness against market.
Total Rewards Statements
Drive meaningful pay conversations with employees. Flexible statements to help employees understand their total compensation package and improve perception of fair pay.
Reach pay transparency objectives quickly with professional services
Payscale supports you in completing the following services to drive pay transparency:
- Comp Strategy & Market Analysis
- Job Pricing
- Structure Modeling & Creation
- Comp Policies Guide & Support (Includes Pay Philosophy)
- Manager Best Practice Training
Pay transparency decreases likelihood to seek a new job by 30%
Understand the full impact pay transparency has on retention, with Payscale's 2023 Retention Report.
Stay Informed on U.S. Pay Transparency Legislation
States and municipalities are fighting to close the pay gap. One way they are doing this is by increasing pay transparency regulations for employers. While many states have already enacted salary history bans and Equal Pay laws, below we have provided information focused on disclosing salary ranges to candidates and internal hires either on the job posting or during the interview process. Here you can stay up to date with current transparency legislation in the United States and proposed legislation.
Get the tools you need to achieve pay transparency
Ask how Payscale's data, technology, and services can work together to help you up-level your pay transparency strategy. Fill out the form to request a demo
