LaborIQ by ThinkWhy

Product Name: LaborIQ

Product Description: LaborIQ by ThinkWhy is a talent intelligence SaaS platform helping organizations drive people and business growth strategies by providing answers to compensation, employee retention, and job market forecasts. Powered by AI technology, the platform delivers ease, accuracy, and unlimited access for all U.S. cities, and over 20,000 occupations.

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Summary

Company Background

  • Private or Public: Private
  • Headquarters: Dallas, Texas
  • Mergers & Acquisitions: N/A
  • CEO: Ron Johnsey
  • DEI leadership: 50% of women on executive team.

*As a private company, we do not disclose client or revenue numbers.

 

Product Analysis

  • Heritage: ThinkWhy’s talent intelligence software, LaborIQ, has its heritage in compensation data and benchmarking and labor market analysis, powered by its own proprietary ATILA technology.
  • Integration: Upon request
  • Global Capabilities: N/A
  • Release Schedule: Once a month
  • Customer Support: Proven Process for client support and onboarding

Analyst Insight

LaborIQ by ThinkWhy is one of the most impressive and differentiated talent intelligence solutions that can help companies plan for headcount budgets, employee retention and workforce planning needs. It is a market intelligence platform that provides sophisticated compensation data and market analysis with a simple and intuitive experience. Companies can gain insights into the labor market, understand pay equity, and forecast their talent needs.

Key differentiators include its proprietary ATILA technology based on AI and machine learning. LaborIQ can pull data from multiple sources unlike other compensation analysis solutions that pull from one resource. With this approach, LaborIQ leverages 18 trillion data points to provide insights. Companies can discover talent shortages by location and understand the impact on salary demands, forecast compensation rates and talent supply across the U.S., and focus recruitment marketing to the right targets. LaborIQ also helps companies with retention strategies by determining which employees are under or over paid and planning for career development.

LaborIQ balances complex compensation analysis with an engaging experience. It is best suited for companies of all sizes, across a wide range of industries.

 

Product Enhancements in the Past Year

Retention planning to help companies identify who is under or over paid.

Product Enhancements for the Next Year

Annual salary and hourly pay rate compensation solution, with customizable job skills and responsibilities

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