Payscale launched Payscale Industry Networks (PIN) to provide industry-specific data to price jobs accurately and in line with their peers. Daily updates to the data set and unmatched transparently sourced data directly from HR systems mean organizations are always pricing at today’s market rate.
“Organizations need more than traditional salary surveys,” Payscale chief product officer Peh Teh said. “Our transparent datasets help organizations move with the market and get answers they can trust so that compensation becomes a tool for recruiting, retaining, and obtaining an edge on the competition.”
Key takeaways:
· In October, Payscale added PINs for construction, manufacturing, and AED (architecture, engineering, and design). In November, it plans to add biopharma and business services.
· As part of the PIN offering, Payscale also hosts an exclusive online community and quarterly meetups to help customers learn from their peers, sharing expertise and best practices to tackle industry challenges.
· Payscale Industry Networks are deemed a next-generation approach to compensation benchmarking, bringing together real-time market insights, participation, and peer collaboration within a single, powerful platform.
· With over 5,200 benchmarked jobs, 8.9 million incumbents, and 3,900 organizations represented, Peer data is refreshed daily and integrated into Payscale’s compensation management solutions.
· Through PINs, organizations can access industry-specific carveouts of peer data, providing a real-time view of the market tailored to their sector.
