January 7, 2016
Back Under Original Leadership, Company Positioned to Expand Compensation Product Offerings, Introduce Innovative New Solutions
WELLESLEY, MA--(Jan 7, 2016) - Salary.com, the technology leader in employee compensation data, software and services, today announced that it has been acquired from IBM by its founding team. Under the leadership of the returning management team, Salary will deliver next generation analytical tools that further enable companies to manage their compensation expenditures as well as provide the market at large with the most accurate, objective information related to employee compensation.
"Compensation is complex, and for today's employers to be successful, they need the tools and data that enable them to simplify the connections between people and pay," said Kent Plunkett, CEO of Salary.com. "Salary is the most widely recognized and trusted source for employer-reported compensation data to facilitate decision-making around employee compensation. On behalf of the founding team, we are thrilled to provide our customers with the high-touch service and expertise that they expect in the compensation space."
Founded in 1999, Salary.com grew rapidly to become one of the most widely recognized sources for reliable information about employer-reported pay levels and compensation-related best practices, trends and policies. Following its move to IPO in 2007, Salary.com was acquired by Kenexa in 2010, and IBM acquired Kenexa in 2012. The original team, in partnership with co-investors H.I.G. Capital and Prudential Capital Group, have reacquired Salary.com from IBM, along with related compensation offerings. The returning team has the goal of enhancing the company's current product offerings and creating additional solutions that help consumers and customers make well-informed, data-based compensation decisions.
As more employers seek detailed, real-time and accurate information about employee compensation beyond sites presenting employee-reported salary information, Salary.com is poised for continued growth and expansion. The company is currently hiring back over 20 additional former Salary employees, adding to a team of 120 compensation and technology professionals across its U.S. and China offices servicing many of the world's largest employers as well as small business owners and individuals.
"As the compensation category remains under-served, the growth opportunity in front of Salary is tremendous," said Plunkett. "We are eager to steer the company in an exciting new direction and become the SaaS platform of choice for employers seeking the most accurate and reliable compensation data available."
The technology leader in employee compensation data, software and services, Salary.com provides enterprises, small businesses and individuals with reliable information about employee pay levels and compensation-related best practices, trends and policies. Through industry-leading cloud-based software and extensive domain knowledge, the company helps clients win the war for talent by simplifying the connections between people and pay. Salary's proven technology solutions, coupled with actionable data and content, empowers businesses to make fast, accurate compensation decisions about pay and deliver superior results.