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Helping the World’s Compensation Challenges Reach an AI-led Resolution

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Payscale, the leading provider of compensation data, software and services, has officially released a set of updates for its core product suite. Covering solutions like Payfactors, MarketPay, and Compensation Planning, the stated enhancements leverage the power of Artificial Intelligence (AI) to streamline the entire compensation management process. Talk about the same on a slightly deeper level, though, we begin from the newly-introduced Payscale Certifications, where the company brings to the fore first-of-its-kind platform-tailored certifications to let customers access new learning paths and gain valuable skills in the context of modernizing their compensation practices. At launch, the available certifications will include Payfactors Basics, Payfactors Professional, and Payfactors Advanced, and slated to join them soon would be a certification for Compensation Fundamentals. Next up, we must get into the way this development improves on the benchmarking aspect. You see, the traditional process of working with compensation data to benchmark jobs can be tedious and time-consuming, especially in what is, by all means, a quickly changing market. Fortunately enough, Payscale’s new features, along with relevant data, solve that problem big time by streamlining the job matching and pricing process. Meant to compliment Payscale’s HR Market Analysis tool, this functionality, in practice, delivers the most accurate and recent data to help HR professionals offer market-value compensation packages and get pay right for their employees.

“There are many parts of the compensation management process that require time-consuming and tedious work, but through leveraging the latest technologies, including AI, and providing our customers with educational resources that set them apart in their field, we hope to support compensation and HR professionals drive outcomes — and free up their time to focus on high-impact work,” said Tom Studdert, SVP of Customer Experience at Payscale.

Moving on, the update even comes decked up with a promise to simplify workflows. Evident across Payscale’s entire portfolio, the stated simplicity translates to how users can now easily review screen comments in compensation planning. Such a facility, on its part, should go a long distance when the idea is to help HR teams and managers collaborate throughout compensation cycles in a more personalized and integrated way. This simplicity further reveals itself once you take into account the new letter template UI in compensation planning, a template which conceives for you filtering capabilities, new views, as well as an option to regenerate compensation letters that are impacted by changes in bulk. Another area where we can expect a substantially improved workflow is concerned with an uninterrupted access of Payscale tiles. Leveraging new resources on the Payscale dashboard, customers can more productively enjoy new software, data sources, and services to help solve compensation challenges. Rounding up highlights is a Single Sign-On (SSO) login for Payscale Connect, the company’s online customer community. Thanks to the development in question, customers can access the stated community directly from MarketPay, and therefore, enjoy the means to seamlessly communicate with peers, troubleshoot product questions, and submit feature requests and support tickets.

Among other ancillary details, we must mention that users can bank upon Payscale to generate job summaries. Beyond that, they can also use the Peer Auto-Match for the purpose of achieving high-confidence job matches based on multiple factors, including job title, survey matches, industry, and more.

“The Peer Auto-Match functionality is awesome! This is something we’ve been eagerly waiting for, and found the new feature to be 99% user-friendly,” said Shirley Rawson, Senior Compensation Analyst at VF Corporation. “It effortlessly auto-matches jobs for us based on multiple factors and has definitely been a time saver for our team.”

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