Webinar-Are you paying fairly? A small business guide to compensation
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Transcript of Webinar-Are you paying fairly? A small business guide to compensation
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Taylor ArgensSenior Account Executive
Lilly MilanovicSenior Account Executive
Are You Paying Fairly?
A Small Business Guide to
Compensation
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www.payscale.com
15,000 Positions 3500 Customers 11 Countries
250 Compensable Factors54 Million Salary Profiles
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Why You Need to Get Pay Right
www.payscale.com
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Why Comp Matters• One of your largest
expenses• Attract and Retain Talent• It’s good for business
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A Battle With Perception
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www.payscale.com
Sources of Data
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www.payscale.com
• Glass Door• Free industry/association reports• Asking other businesses (FYI – this
could be seen as collusion)YOU’RE PUTTING YOUR BUSINESS AT
RISK USING THESE SOURCES OF COMPENSATION DATA
Free Data = Danger!
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• Published, Traditional Surveys• Aged Data• Limited in scope• Too Generic
Survey Data = Old Data
www.payscale.com
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Gaps With Employer Submitted Data
32 jobs were benchmarked in 7 west coast cities by both PayScale and Traditional/Employer Submitted Survey. The 32 jobs examined in the analysis represent a wide variety
of functionality, level, and industry, the above is just a sample of the findings. Just look at the gaps.
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Modern SaaS Comp Software is the Way Forward
www.payscale.com
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• Manage your largest expense • Fresh Data• Discover Trends• Communicate Comp• Scales with your business
www.payscale.com
Why Modern Comp Software
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Let’s Take a Look
www.payscale.com
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DEFINING YOUR MARKETS
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MATCHING YOUR TITLES
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DATA FOR YOUR TITLES
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RANGES FOR YOUR TITLES
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IMPROVE THE COMMUNICATION
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QUESTIONS?Request a free comp analysis: http://resources.payscale.com/hr-request-a-free-comp-analysis.html
“It’s easier to justify salaries to employees and internal decision makers, like finance. We can say ‘that’s what the data says.’” -Tracey Mikita VP of HR at Freshbooks
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Visit PayScale.comto learn more