Analytics in HR

JANUARY 6, 2025

Market-based compensation reviews: Uses industry benchmarks, competitor data, or economic factors to make decisions on compensation adjustments. Making these decisions requires research, benchmarking data, and leadership advice on budgets, investments, growth, and strategy.

Compensation 79

Compensation Assessment Software Hiring Software HR Software 79

Compensation Today

MARCH 20, 2017

Here’s an example: The Smith Company will use 10,000-employee sized companies in the Software Development industry in our local markets for competitive benchmarking. PayScale’s 2017 Compensation Best Practices Report (CBPR) found that just 37 percent of all organizations have a comp strategy. External Competition.

Compensation 81

Compensation Strategy Hiring Software Planning Tools 81

HR Daily Advisor

DECEMBER 3, 2014

The stakes are very high when it comes to hiring salespeople, says Consultant Joseph DiMisa. Typical cost to hire a new salesperson is about $15,000 in hiring costs, plus $20,000 in training, plus an average first-year salary and incentives at $75,000. Start with PayScale’s (free!) Why Is It Hard? DiMisa asks.

Hiring Software 40

Hiring Software Payscale Hiring Planning Tools 40

Compensation Today

AUGUST 17, 2017

We live, love and dream about data here at PayScale, and big data is driving business and pay decisions across industries and functions. Often folks will begin market benchmarking by looking at data cuts for jobs in their specific industry, location or company type/size. Data, data, data. Click To Tweet. You Need to Pay Above Market.

Data 74

Data Hiring Software Planning Tools Benchmarking 74

Analytics in HR

DECEMBER 15, 2023

Bridging skills gaps : Organizations must keep pace with technological advancements and frequent shifts in business concepts. It launched a program containing an app that integrates with the company’s HR management system. With 95% of employees using the app, Telefónica was able to collect detailed data on current skills.

Compliance Training 98

Compliance Training Assessment Software Hiring Software Planning Tools 98

Compensation Today

JULY 21, 2017

We’ve written a lot at PayScale about compensation communication — especially about WHY talking about compensation is important, and WHO should be talking about pay. New Hires and Promotions: Discuss pay when employees are hired or when they move in to a new role. Learn More About Our Compensation Software.

Compensation 68

Compensation Hiring Software Bonuses and Incentives Payscale 68

Zenefits

DECEMBER 29, 2021

Creating a compensation philosophy that aligns with your company strategy is one way to strengthen hiring and retention. Start by looking for: Skill sets needed for hires. With each gap, compare data from compensation benchmarking tools to determine how much you’ll have to spend to attract needed talent.

Payscale 36

Payscale Strategy Hiring Software Bonuses and Incentives 36

Ongig

AUGUST 15, 2022

Listing salary info optimizes your hiring process. Tech-savvy job seekers are looking for companies that practice transparency in their hiring process, especially with salaries. Be sure to conduct regular salary benchmarking by evaluating your company’s pay standards. And, check how competitive salaries are in the market.

Talent Experience 72

Talent Experience Hiring Software Workable Recruiting Software 72

Zenefits

MAY 9, 2019

There are several salary comparison tools to help aggregate data for specific roles. Indeed also provides a free tool for salary comparisons. Other tools like PayScale, Salary.com, and LinkedIn Salary require a subscription or payment to access data but contain a larger number of job titles and data sets.

Benchmarking 31

Benchmarking Compensation Hiring Software Recruiting Software 31

Acacia HR Solutions

JANUARY 6, 2025

This starts in the hiring and onboarding process and continues through the employee life cycle. My Suggestion I added Payfactors by Payscale software into our fractional support offering a few years ago so that we could help clients execute really good benchmarking for pay. For benefits, think outside the box.

Recruiting Software 52

Recruiting Software HR Software Recruitment Hiring Software 52

Heyyy HR!

JUNE 5, 2024

Salary ranges can be compared on platforms like Salary.com , Built-In , job postings in Indeed, the US government’s US Bureau of Labor Statistics , and others. Moreover, understanding salary trends is important for local job seekers, those considering international opportunities, hiring managers, and companies who are seeking employees.

Wage and Hour Training 60

Wage and Hour Training HR Planning Hiring Software Strategy 60

Decusoft

NOVEMBER 5, 2021

Getting compensation right can be tricky – that’s why businesses perform due diligence and conduct benchmarking surveys. And while there are common themes throughout compensation strategies, there’s never a “one size fits all” solution. And the solution can really be quite simple. And workers are confused.

Compensation 52

Compensation Strategy Payscale Hiring Software 52

HR Tech Girl

APRIL 4, 2023

so I thought I’d take a moment to reflect on some of the prevailing recruitment trends shaping hiring this year and beyond. I’ve had to argue against this assumption many times when hiring managers ask me to target the still-employed people from companies that went through layoffs because somehow they believe that’s where top talent is.

AI Recruiting 52

AI Recruiting Video Recruiting Recruiting Software Hiring Software 52

Oracle HCM - Modern HR in the Cloud

OCTOBER 10, 2019

The right compensation strategy and structure can help us both hire and retain great talent. ” Market data, industry benchmarks, and application of best practices are useful, but also too generic. He said, “When compensation systems are not aligned with organization culture, it causes many unintended consequences.”

Compensation 49

Compensation Hiring Software Bonuses and Incentives Planning Tools 49

Tandem HR

FEBRUARY 9, 2022

For example, a high-level tech firm requiring specific expertise needs a different strategy than an event company hiring college students to run promotional events. Benchmark Jobs to Market. Here are some additional tips: When benchmarking to market, compare the position criteria/description versus position title.

Compensation 52

Compensation Strategy Retention and Turnover HR Planning 52

Analytics in HR

OCTOBER 27, 2023

This amount is negotiated during the hiring process and agreed upon before the employment contract begins. Every new hire should receive a clear report of their compensation package and know who to contact if they have any questions. It is typically an annual or monthly salary or an hourly rate.

Compensation 115

Compensation Wage and Hour Training COMPAS Bonuses and Incentives 115

Entelo

JANUARY 30, 2019

The 2019 Recruiting Automation Trends Report has unveiled this year’s most important trends in recruiting, from the ways in which organizations leverage recruiting automation to the most successful strategies for bolstering diversity and mitigating unconscious bias in hiring. This week, we've tackled financial services.

Recruiting Software 28

Recruiting Software Recruitment Payscale Diversity 28

PI Worldwide

APRIL 26, 2019

If you’re a hiring manager, salary discussions are a necessary part of your role. Whether you’re hiring new team members, discussing promotions, or granting raises, compensation is an important matter to discuss to make sure team members feel satisfied and valued in their roles.

Hiring Software 40

Hiring Software Interview Software Compensation HR Software 40

Zenefits

JANUARY 31, 2022

However, many other systems run on a monthly basis, such as benefits packages (typically). Benchmark positions, meaning jobs with similar duties, are the best sources for comparing salaries across positions. We recommend using industry benchmarks. Indeed also provides a free tool for salary comparisons.

Payroll 36

Payroll Hiring Software Wage and Hour Training HR Software 36

Workable

JANUARY 3, 2018

Recruiters and hiring teams could only assume that their hiring methods were effective. But now, with a wealth of software and analytics tools available on the market, anyone can create a data-driven recruiting process. Recruiting teams that use data are more likely to be efficient, reduce costs and improve their hiring.

Recruiting Software 85

Recruiting Software Hiring Software Data Recruitment 85

Digital HR Tech

NOVEMBER 11, 2019

A Payscale study gives some insight into the influence of salary. Of course, because compensation and benefits can vary across companies and geographic regions, it’s important to benchmark your programs to ensure you’re maximizing the benefits from your programs. How do HR Departments calculate compensation and benefits?

Compensation 93

Compensation COMPAS HR Planning Retention and Turnover 93

ClearCompany HRM

APRIL 11, 2023

There’s a lot on your plate, and you need the right modern software tools and best practices advice to execute your people strategies. As the only full-spectrum talent management platform on the market, our software gives HR teams unprecedented clarity over the entire employee lifecycle.

Video Recruiting 403

Video Recruiting Hiring Software Recruiting Software HR Software 403

Ongig

SEPTEMBER 11, 2024

As company leaders look to improve hiring processes, many have invested in recruiting analytics tools. Focusing on the top options is an excellent way to feel confident about the chosen platforms and integrate them into current processes. TalentLyft TalentLyft helps people support their hiring decisions with data.

Recruiting Software 52

Recruiting Software AI Recruiting Hiring Software HR Software 52

Compensation Today

JUNE 13, 2016

Jenni Marquez, CCP, PayScale Compensation Professional Most organizations don’t intend to pay employees low, but market shifts and legislation changes can often result in underpaid employees. PayScale is a perfect example. We’re a software as a service company in Seattle with roughly 350 employees. And Amazon. Even Boeing.

Wage and Hour Training 40

Wage and Hour Training Payscale HR Planning Hiring Software 40

Analytics in HR

FEBRUARY 27, 2024

Effective HR management without a Human Resources Information System (HRIS) is virtually impossible nowadays, at least for companies of a certain size. A Human Resources Information System, or HRIS, is a software solution that is used to collect, manage, store, and process an organization’s employee information.

HR Software 97

HR Software Hiring Software Planning Tools Recruiting Software 97

Workable

SEPTEMBER 6, 2024

Maintaining a positive culture “Putting effort into salary research, benchmarking, and using findings to make compensation decisions can impact workplace culture,” explains Aida Gueye , an HR professional. There are plenty of other tools to help you go beyond vague surveys or ranges and get specific. What’s your retention rate?

Hiring Software 110

Hiring Software Compensation Metrics Benchmarking 110

Zenefits

JULY 9, 2022

In a new Payscale report , companies pay women whose credentials are comparable to men’s 99 cents on every dollar that their male counterparts receive. The report by OpenComp, a provider of compensation benchmarking tools for startups, offers some answers. Unvetted platforms. Legacy survey providers. Supplementing income.

Wage and Hour Training 36

Wage and Hour Training Onboarding Software Background screening Staffing Software 36

Workable

FEBRUARY 7, 2024

Outcome transparency involves disclosing the actual compensation figures, such as specific salary ranges or benchmarks for different roles and levels within the organization, allowing employees and candidates to see where their pay stands relative to those benchmarks. Related: Can’t afford to pay more?

Hiring Software 62

Hiring Software Retention and Turnover Compensation Recruiting Software 62

HiBob

MARCH 3, 2024

The gender pay gap is getting narrower, but at a glacial pace as shown by this 2024 Payscale survey. Pay transparency is a powerful tool to fight pay inequality Around the world, many countries have introduced different laws and pieces of legislation to encourage and enforce transparency in the workplace.

HR Software 148

HR Software Hiring Software Discrimination Assessment Software 148

Workable

OCTOBER 23, 2024

Research from Payscale claims that 50% of employees will switch jobs if they feel underpaid. Average compa ratio In some organizations, the average compa ratio is part of salary benchmarking. Compa ratio is a valuable tool for employers and HR professionals. When employees are paid fairly, they feel valued.

COMPAS 62

COMPAS Compensation Analysis Hiring Software 62

Workable

NOVEMBER 7, 2017

This may perpetuate the gender pay gap and, as a result, create systemic pay disparities that prompt discrimination lawsuits. Knowing what each job entails and its value to your company helps you benchmark salaries more effectively. Here are both approaches with examples and how you can combine them: Benchmarking.

COMPAS 86

COMPAS Compensation Hiring Software How To 86

Compensation Today

OCTOBER 26, 2015

Jenni Marquez, CCP, PayScale Compensation Professional PayScale’s Comp Glossary returns! Consider the comp pros at PayScale to be an extension of your team! 2) BENCHMARK JOB Definition: A job commonly found in the market. A benchmark job is what you use to compare pay at your company with pay in the market.

Payscale 40

Payscale Compensation Hiring Software Recruiting Software 40

Thrive TRM

JANUARY 4, 2024

Leverage Your Peer Network to Find the Best Data Sources For You Understanding the most popular datasets for executive compensation and how they compare across stage, size, and sector is the first step to efficiently answering compensation requests that come in from investors, hiring managers, and founders.

Compensation 52

Compensation Strategy Hiring Software Bonuses and Incentives 52

Astron Solutions

JANUARY 3, 2023

Astron Solutions’ Perspective The following recommendations are based on current client activity and budget discussions regarding 2023 budgeting: The trend is pointing to base pay budgets of 4%–5%, with 5% becoming more prevalent. There was a significant increase in promotion and adjustment budgets. 40.0% % of Base Paid 5.0%

Compensation 52

Compensation Trends Bonuses and Incentives Wage and Hour Training 52

Analytics in HR

JULY 8, 2024

Salary benchmarking is a powerful tool for building a stable, motivated workforce and decreasing turnover costs. Contents What is salary benchmarking? Why is salary benchmarking important? How to benchmark salaries Best salary benchmarking tools and free calculators What is salary benchmarking?

Benchmarking 110

Benchmarking Hiring Software Planning Tools Assessment Software 110

HR Lineup

AUGUST 16, 2024

Salary benchmarking, also known as compensation benchmarking, is a crucial process for businesses that aim to maintain a competitive edge in attracting and retaining talent. What is Salary Benchmarking? Why is Salary Benchmarking Important? Salary benchmarking is important for several key reasons: 1.

Benchmarking 76

Benchmarking Hiring Software Compensation Employer Branding 76