Payscale Compensation Data

Summary

Payscale, a data-driven partner, offers actionable and reliable real-time data to foster organizational change. They leverage two key data sources: crowdsourced data, the world's largest salary database with over 65 million profiles, and peer data, a customizable, current, and transparent employer-reported dataset. Payscale's commitment to timely and transparent data delivery provides both employee and employer perspectives, enabling compensation teams to access a global network and transform their organization's compensation strategies.

Takeaways

• 📈 **Real-Time Data Importance**: Emphasizes the significance of accessing quality, actionable, and reliable data in real-time for organizational change.
• 🤝 **Partnership with Payscale**: Introduces Payscale as a partner that understands the transformative power of data.
• 🔍 **Data Sources**: Highlights two key data sources utilized by Payscale: crowdsource data and peer crowdsource data.
• 💡 **Crowdsource Data Innovation**: Describes crowdsource data as a database built on a proprietary machine learning model using big data analytics and human expertise.
• 🌟 **Largest Salary Database**: Claims Payscale's database as the world's largest with over 65 million salary profiles, capturing labor market changes in real-time.
• 🔎 **Data Validation Process**: Explains the meticulous four-step validation process for crowdsource data to ensure market reflection.
• 📊 **Peer Data Concept**: Introduces peer data as customized, current, and transparent employer-reported data that is continuously updated.
• 🌐 **Global Network Access**: Offers access to a global network with five million incumbents and two thousand participants across 150+ countries and 20 job families.
• 📊 **Customizable Data**: Provides the ability to select individual companies by name for a more focused data network.
• 🕒 **Timely and Transparent Data Commitment**: Stresses Payscale's commitment to delivering timely and transparent data, which is integral to their identity.
• 🔗 **Unified Data Approach**: Suggests that combining crowdsourced and peer data can deliver more comprehensive data for compensation efforts.
• 📧 **Personal Demonstration Offer**: Invites interested parties to request a personal one-on-one demonstration to learn more about Payscale's data services.

Q & A

What is the main challenge addressed by Payscale in the context of organizational change?

The main challenge addressed by Payscale is the difficulty in accessing quality data that is actionable, reliable, and trusted in real time.

What are the two key data sources that Payscale uses to align innovation with information?

Payscale uses crowdsource data and peer crowdsource data as its two key data sources.

How does Payscale's crowdsource data ensure the quality and relevance of the data?

Payscale's crowdsource data ensures quality and relevance through a meticulous four-step validation process to reflect the market accurately.

What is the size of Payscale's salary database?

Payscale's salary database is the world's largest, with over 65 million salary profiles.

How does Payscale's peer data differ from traditional surveys?

Payscale's peer data is fluid, continuously updated, and fully customizable, unlike traditional surveys which are static.

What is the scope of Payscale's global network in terms of participants and job families?

Payscale's global network includes five million incumbents, two thousand participants, covers 150 plus countries, and represents 20 separate job families.

How does Payscale's peer data offer transparency and customization?

Payscale's peer data offers transparency and customization by providing specific, relevant, and fully customizable data, allowing access to critical data and the ability to select individual companies by name.

What is Payscale's commitment to data delivery?

Payscale is committed to delivering timely and transparent data, which is a core part of their identity and DNA.

What types of data does Payscale offer to its clients?

Payscale offers granular geo and skills data, as well as customized peer data, providing both employee and employer perspectives in near real time.

How can organizations learn more about Payscale's data transformation capabilities?

Organizations can learn more by contacting Payscale to request a personal one-on-one demonstration.