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PayScale Showcases Vision for a New Era in Compensation Management at Compference19

1005 Days ago

Compference19 helps compensation changemakers utilize a mix of data, technology, transparency and storytelling to build trust with their employees around pay

MINNEAPOLIS, Sept. 27, 2019 (GLOBE NEWSWIRE) -- PayScale, Inc., the leader in modern compensation data and software, engaged more than 600 attendees in discussions on the future of the workplace and how compensation is a cornerstone to attracting and retaining the best talent at Compference19, the industry’s leading event focused on a modern approach to compensation. A core storyline during the event centered around data – the need to utilize multiple data sets and how to glean the best insights from the data. PayScale engaged various expert participants on their Compensation Data Landscape Panel discussion to highlight the importance of leveraging various sources to meet individual client needs, The panel included perspectives from Mercer, Willis Towers Watson, Culpepper, Empsight, Radford and Western Management Group. 

As a part of the company’s evolution, Scott Torrey was recently named PayScale’s new CEO. Torrey commented, “I am excited about this next chapter for PayScale and I am eager to guide PayScale as the company executes its vision of modernizing the way companies manage compensation. Increasingly, companies are looking for more data-driven insights to ensure they are getting pay right for their most valuable assets – their people. PayScale has the right expertise and credibility in the market to forge the next era in compensation management.”

PayScale’s recent growth and technology investments

PayScale has become the market leader in compensation analytics, management and insights during this transformative time for the HR industry. Here are some milestones achieved by the company:

  • PayScale has become a critical component of the HR technology stack for businesses from small companies to Fortune 500 enterprises. Today, more than 8,000 clients across nearly every industry trust PayScale to power pay decisions for more than 23 million employees.
  • In April this year, PayScale received significant investment from private equity group, Francisco Partners, a firm with a proven track record of accelerating growth for cloud-based technology companies.
  • Clients are already benefiting from PayScale’s broad partner ecosystem as evidenced by industry partnerships that include the company’s strategic alliance with HR consulting leader, Mercer.

In addition, PayScale is showcasing its significant technology investments at Compference19, underscoring a shift from data analytics to a more comprehensive platform that helps clients make sense of all the data. Today, PayScale offers both crowd-sourced data and company-sourced data sets to clients. The company will continue to take a more agnostic approach to pay—providing the powerful engine for compensation analytics and business insights while also allowing their clients to essentially bring their own data. 

This year’s Compference sponsors include an impressive list of innovators in the HR industry: Lattice, Officevibe, HRTMS, Beqom, The Riveter, Ultimate Software and SG&A/Steve Grossman and Associates. PayScale is also announcing that Compference 2020 will take place in the company’s hometown headquarters location, Seattle, Washington.

Compference explores relevant and challenging topics impacting organizations such as pay equity, workforce diversity and pay transparency. This year’s theme — “Own Your Comp Story” — underscores the importance of a strong pay brand in attracting and retaining employees. Research from PayScale’s 2019 Compensation Best Practices Report shows that only one in five employees feels they are fairly paid. This finding highlights the need for employers to ensure their people understand how pay decisions are made at the company, so they feel good about their deal. 

Compference provides an opportunity to network with industry peers and challenge assumptions about how compensation has always been done. Compference also provides hands-on compensation guidance for employers as they develop programs to recruit new talent and to retain their best employees. For more information about Compference, including event details, keynote presentations and breakout sessions, please visit: https://www.payscale.com/compference 

About PayScale:
PayScale offers modern compensation software and the most precise, real-time, data-driven insights for employees and employers alike. More than 8,000 clients, from small businesses to Fortune 500 companies, use PayScale to power pay decisions for more than 23 million employees. These companies include Encana, Patagonia, The New York Times, Sunsweet, T-Mobile, United Health Group, Wendy's and Perry Ellis. For more information, please visit: https://www.payscale.com/ or follow PayScale on Twitter: https://twitter.com/payscale.

Press Contact:
Erica Beyer

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