For organizations who pay people and strive to #getpayright, Payfactors is a Compensation Platform that delivers : - Diverse and Dynamic Compensation Data to help you understand where competitive pay trends are going while adapting to today’s changing talent environment. - Scalable Compensation Technology that helps guide you on your compensation journey while driving process efficiency and weaving equity into the fabric of all pay decisions. - Experienced Compensation Services to support your specific needs throughout your Payscale experience. Payfactors at its core helps organizations develop scalable and data driven compensation programs. What this means is that we start by giving organizations access to market data that they can use to make fair pay decisions. Users can then use functionality to develop pay structures so pay decisions remain fair and equitable over time. All this information brought together makes reporting and analytics of important data such as pay compression easy to escalate throughout the organization. Payfactors also provides easy avenues for organizations to expand into key areas such as job descriptions, compensation planning and pay equity analysis. We foster a sense of collaborative compensation that means users can bring key people into the process to provide feedback along the way and to help them better understand the parameters in which pay decisions should be made. We strive through this approach to create more equitable workplaces – proven through data- and make it easier to communicate pay with employees.
