New compensation management solution easily aligns HR and business managers on critical pay decisions and also allows employers to increase pay transparency with their employees
Washington, D.C. - June 20, 2016 – Today at the Society for Human Resource Management (SHRM) Annual Conference, PayScale, Inc., the leader in modern compensation software, announced availability of a new compensation product called PayScale CrewTM. Designed for businesses, PayScale CrewTM makes compensation a team sport by helping HR departments empower executives and managers to determine the correct pay increases for each employee. Crew represents recommended pay increases in a highly visual format, so managers are no longer required to decode compensation data in complicated spreadsheets. Now, managers can feel confident they're paying employees fairly and can increase pay transparency with their valued employees.
"PayScale Crew fosters deeper collaboration around pay and furthers our long-term vision of providing modern solutions designed to lift the veil of secrecy around compensation," said Dave Smith, Chief Product Officer at PayScale. "Many of our customers want to expand their existing compensation management programs with better alignment between HR and managers, so they can make the right decisions around pay raises in less time. Crew will foster more open, data-driven conversations about pay that will ultimately lead to increased trust, employee engagement and retention."
Today, there is a disconnect between HR departments that set the compensation budgets, line of business managers who know the employees best and the employees themselves. CEB research shows that 75 percent of employee conversations regarding pay happen with their managers, not HR personnel. However, only 17 percent of companies are 'very confident' in their managers' ability to discuss compensation with employees, according to PayScale's 2016 Compensation Best Practices Report. PayScale Crew uses real market data to bring everyone together and fosters more meaningful conversations about compensation that are based in fact.
"I used to spend countless hours trying to make sense of compensation data in spreadsheets when I was adjusting compensation for my team," Paul Shortell, Senior Vice President, Professional Services and Consulting at Data Intensity. "PayScale Crew made the process so much easier because I could immediately see where each employee was in relation to the compensation scale for their position. As a result, I allocated pay raises in a fraction of the time and felt much more confident explaining my rationale for a raise to each member of the team."
"With PayScale Crew, our managers have all the information they need at their fingertips, so they no longer need to ask HR to provide answers or additional compensation details multiple times," said Jeracah Lawless, HR Director at HPM Building Supply. "The software has dramatically improved our process for awarding compensation increases across the company because managers get immediate insight, not just raw data."
PayScale Crew is available immediately to PayScale Insight business customers. For more information, please visit www.payscale.com.
PayScale powers compensation solutions in the cloud to provide immediate visibility into the right pay for any position. Creator of the world's largest database of rich salary profiles, PayScale offers modern compensation software and real-time, data driven insights for employees and employers alike. More than 5,000 customers, from small businesses to Fortune 500 companies, use PayScale Benchmark™, PayScale Insight™ and MarketPay. These companies include Dish Network, Getty Images, Skullcandy, Bloomberg BNA and Time Warner. For more information, please visit:www.payscale.com or follow PayScale on Twitter: http://twitter.com/payscale.