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  • What Compensation Tools Are You Using?

     Chris Hoyt updated 1 month ago 4 Members · 8 Posts
  • Anonymous

    Anonymous April 13, 2021 at 11:41 am

    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.

    Thanks in advance – love this community!

    +1
  • Chris Hoyt

    Administrator
    April 14, 2021 at 11:54 am

    Hi – I don’t know much about comp tools but I have heard really good things about Payfactors https://payfactors.com/. Maybe give them a look?

    +2
  • Milliner Status

    Jonathan Liepe

    Member
    April 14, 2021 at 12:56 pm

    We use PayFactors.

    0
    • Chris Hoyt

      Administrator
      April 14, 2021 at 12:58 pm

      Thanks, @jonathan – like it? hate it? indifferent?

      0
  • Milliner Status

    Jonathan Liepe

    Member
    April 14, 2021 at 1:02 pm

    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.

    +1
    • Chris Hoyt

      Administrator
      April 14, 2021 at 1:05 pm

      +1
  • Curtis Dorsey

    Member
    April 15, 2021 at 4:33 pm

    We use Payfactors and our comp team seems to be really happy with it. We don’t use the Job Description functionality but I’d be curious what the feedback on that has been as we may need to look at it.

    +2
    • Chris Hoyt

      Administrator
      April 16, 2021 at 10:36 am

      Thank you, sir.

      0

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