June 27, 2017
New Product Delivers Unparalleled Ease-of-Access to Cloud-Based Market Pay Data, Advanced Integrations, and Revolutionary Job Content Architecture For Compensation Professionals
WALTHAM, MA – June 27, 2017 – Salary.com, the leading SaaS provider of broad cloud-based compensation market data and analytics, today announced the launch of its entirely redesigned and re-architected CompAnalyst Market Data product. The new CompAnalyst delivers customers the largest, most real time and configurable database of global compensation information available today, as well as quick access to predictive analytics around their own internal compensation data. The product provides an unrivaled new user experience, which drives enhanced integration capabilities, advanced reporting features and actionable visual analytics to accelerate workflows and improve efficiency.
“Salary.com has served more than 5,000 human resources customers over the last decade. We pride ourselves on our in-house team of experienced compensation professionals who provide award-winning service and support, and continuously engage with our customers to ensure our vision for the future remains proactive, responsive and relevant,” said Kent Plunkett, Founder and CEO of Salary.com. “We’ve built a very successful business with a customer-centric strategy, and we continue that philosophy today with the launch of the new CompAnalyst Market Data. Our product helps solve key pain points around attracting, retaining and engaging employees that our customers face in today’s fast-changing talent management landscape. With an investment of nearly 30 percent of revenue back into R&D, this is just the first module of a complete new product rollout we will be delivering this year.”
The war for talent has become increasingly competitive, with shorter times to hire and continuous pressure to fill roles. Performance management is moving rapidly from annual to ongoing performance reviews with continuous feedback and requirements to align compensation with an evolving model for assessment. Retention initiatives and pay rationales are being scrutinized for improvement, as engagement declines and talent becomes increasingly more difficult to attract. In this environment, companies must have the best and most reliable data to inform effective and timely business and pay decisions. The convergence of these talent management dynamics is compounded by the nuances, perceptions, philosophies and differing expectations of each of the five generations in the workforce, led by the millennial population, which now comprises a full 50 percent of the employed US population.
“Easy-to-use and integrated workflows that deliver the right information quickly are at the forefront of the customer experience for us,” said Yong Zhang, Chief Technology Officer and COO for Salary.com. “The new CompAnalyst Market Data is widely differentiated by a groundbreaking information architecture, or taxonomy, that has been a year in the making. This new data landscape enables users to search the most relevant information across industries, companies, job families and roles to deliver much more comprehensive and more precise compensation analysis. With today’s launch, we are bringing our customers dramatically increased accuracy and speed, while expanding and improving job matching for hiring and retention. In addition, mundane tasks, such as participating in compensation surveys, have never before been easier!”
In addition to ease-of-use, universal search with the new taxonomy, and leading integration, CompAnalyst Market Data has been expanded with multi-view configurable dashboards, workflow cues that guide users through projects, and new levels of data accessibility on mobile devices. This product falls within the Company’s industry-recognized flagship CompAnalyst compensation data and workflow management software suite, which includes a full array of expanded enterprise analytics applications, surveys, and data services for compensation professionals worldwide. Salary.com will be releasing a host of new enterprise applications in the second half of this year to address customer demands for increased collaboration, expanded predictive analytics, and advanced integrations.
Commenting on today’s product release, Mark Smith, CEO of Ventana Research - a leading Business Technology Research and Advisory Services firm with deep experience in the compensation and human capital management- said, “To meet the demands of today’s evolving talent management landscape, human resources professionals must rethink how they leverage compensation and performance data to create personalized talent management experiences for their employees. Our latest total compensation management benchmark research confirms this with market data like benchmarking now a requirement for HCM success. Innovative compensation data and analytics solutions, like Salary.com’s CompAnalyst suite, help organizations marry internal and external data and make strategic decisions that have far-reaching effects on attraction, engagement, and retention.”
Salary.com is the leading SaaS provider of cloud-based compensation market data and analytics. Founded in 1999, the Company serves more than 4,000 enterprise customers worldwide with its market-leading CompAnalyst platform, designed to accelerate compensation workflows and improve efficiency. In addition, 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 salary.com.
For more information, please contact:
Alys Reynders Scott
Chief Marketing Officer