We’re looking at various compensation tools and services and I was wondering what others are using. Right now Pave https://www.pave.com/ is interesting and it would be good to talk with anyone that has experience with them but I would also appreciate learning more about what you might be using to benchmark comp, communicate total rewards, handle merit cycles, etc.
I am not intimately familiar with the inner workings of PayFactors as it is used by our compensation team primarily. However, I have only heard positive comments. What little I know is it enable quick analysis of market data to help determine proper pay family/grading for jobs within the organization as well as to set that for newly created positions. It also provides tools to view internal job incumbent pay-related information for equity, etc. It provides a data repository for job descriptions and version control and history.