July 23, 2019
WALTHAM, MA (July 24, 2019) – Salary.com, the leading SaaS provider of cloud-based compensation data and analytics, today announces new compensable factors enhancements to their award-winning CompAnalyst platform. Through the Company’s new compensable factors functionality, CompAnalyst customers can now tailor benchmark jobs to more accurately reflect their internal job descriptions, using skill, competency, certification, license, and other job requirement-based pay data items to understand the impact that these adjustments have on the market price for the job.
By enhancing CompAnalyst’s extensive data library of more than 15,000 unique job titles with HR-reported compensable factors information, Salary.com now enables customers to adjust the market prices for existing benchmark jobs by adding or editing key pricing factors that could impact the job’s market value. Customers can add, remove, and adjust a number of key job traits, including required skills, competencies, certifications, licenses, levels of education, and managerial responsibilities, to more accurately price their internal company jobs.
“We’re thrilled to be enhancing CompAnalyst with our compensable factors functionality, driving pinpoint pricing accuracy for our customers,” said Kent Plunkett, CEO of Salary.com. “This new functionality expands our focus on providing our customers with the high quality, HR-reported pay data they need to find the right price, for the right job, every time, and will allow our customers to refine their unique prices for benchmark jobs, tailoring prices to reflect their internal company job requirements and the skills they need to be successful in today’s evolving business landscape. Our new compensable factors functionality will enable our customers to reflect the true value of each job’s unique required skills and experience, rather than relying simply on ‘close enough’ matches within traditional data sets.”
In today’s evolving talent landscape, it’s increasingly important for companies to price their jobs based on the specific required skills, competencies, and job traits that make the role critical to their business. Salary.com’s new compensable factors functionality further enhances fair pay practices by analyzing how important the market dictates certain pay factors to be for certain roles. This data extends across multiple job families, functions, and foci, with a specific focus on jobs and skills that may not be fully reflected in traditional data sources.
“Unlike traditional benchmark pricing, our compensable factors functionality provides a directional indicator for what the market demand or outlook is for any key job attributes,” said Yong Zhang, President and Chief Operation Officer of Salary.com. “Using this functionality, our customers can now expertly analyze the exact pay premiums or discounts tied to compensable factor adjustments, making it easier to determine the exact right price for their unique company job. This data delivers unparalleled pricing accuracy to our customers, helping them to attract and retain top talent in business-critical roles and keep pay competitive as the market landscape for hot jobs and skills changes.”
Salary.com is the leading SaaS provider of cloud-based compensation market data and analytics. Founded in 1999, the Company serves approximately 4,000 business-to-business customers worldwide with its market-leading CompAnalyst platform, designed to accelerate compensation workflows and improve efficiency. Through its Salary Wizard and consumer website, Salary.com delivers continually updated, reliable market pay data and career content to hundreds of thousands of consumers each year. The Company is committed to helping organizations drive company success by aligning compensation practices with recruiting, performance and development initiatives through easy-to-access data and meaningful insights. For more information, please visit the company website at www.salary.com.