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Using the Right Compensation Data Puts You Ahead of the Competition
MIKE METZGER
CEO & President PayScaleMike Metzger is CEO and President of PayScale, the leader in modern compensation data and software. PayScale creates products that help millions of employees and thousands of employers understand market pay and have more open and mutually beneficial conversations about compensation. A veteran technology leader, Mike was previously the CEO and president of Performant and also held product leadership positions at RealNetworks and Microsoft. Mike earned an MBA in industrial administration from Carnegie Mellon University and a BS in mechanical engineering from Clarkson University.
Credits
HRCI - HR (General):1.25, SHRM - PDC:1.25
Description
Compensation data has changed; no longer are HR professionals tethered to data that is old and stale. Top companies from the California-based agricultural company Mission Produce to energy innovator Sungevity use PayScale’s fresh data to track real-time compensation for critical skills. For example, a recent report shows Scala skills can boost pay by 29%. In a volatile market, knowing the current value of jobs is a deal-maker for employers. You have a choice of market data sources; we’ll talk through the options, including third party surveys, crowd-sourced data, and more. Just like getting employees’ mix-of-pay right matters, companies must consider the data mix. Is data serving company needs by providing coverage for all jobs and locations? Does it accurately show market fluctuations for hot jobs or skills? Is it validated? Meanwhile, employees are more informed of their market value. For some, this is a shift towards productive conversations, but it can be scary without the right data to back you up. Compensation data is the backbone of a solid compensation plan, without which organizational culture cannot thrive. In the knowledge era of tomorrow, companies will accomplish their business goals through having the best talent and being an employer of choice.
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