Compensation Technology Solutions
Compensation departments lead an annual organizational process that can include:
- Job Description Writing and Updates
- Market Assessment – Benchmarking
- Salary Structure Updates
- Pay Equity Analysis
- Compensation Cycle: Annual Salary Review and Link to Performance Management
- Total Reward Statements
On an ongoing basis, compensation partners with talent acquisition in developing candidate offers and determining the appropriate compensation for new positions.
Technology advances have resulted in applications that streamline many of the compensation functions that have been performed in excel. If you are an organization that is looking to take advantage of the technology that will transform your compensation processes and provide better information and services to leadership, Wilson Group has researched and described the best platforms available below.
- All products come with unlimited user licenses except for BetterComp. BetterComp’s costs are based on the number of user licenses you wish to purchase.
- Payscale offers both crowdsourced, and survey derived products (previously PayFactors)
- Payscale also has a stand-alone Pay Equity Module (previously Curo)
- Pay Equity dashboards are included in all offerings Data Analytics
- Pave Market Data is specific to pre-IPO private companies
- Salary.com full suite includes Skills Library and Pay Equity Suite
Wilson Group’s services includes market assessments, salary structure design and pay equity analysis to our clients. We have been managing outside survey sources and using market data using two of these solutions since 2015.
If you would like more information or assistance aligning your needs with the solutions, please reach out to us.