Laleh Hassibi, PayScale
Take the PayScale Challenge! Are you searching for a purple squirrel – you know, that elusive candidate who has all the qualifications and experience your job position requires? Or maybe you just lost a valuable employee to a competitor. If you’re like most organizations, you spend between 30% and 50% of revenues – totaling millions of dollars a quarter – on compensation. Getting compensation right not only means having control over the bottom line, but getting and keeping star employees.
Purple Squirrel, Meet Big Data
The PayScale Challenge says PayScale can give you a faster, better, more accurate result than the old way of annual salary surveys by using modern data science. The old model relies on consulting firms to do annual surveys of companies about how they pay for certain positions. The results from those surveys were then packaged and sold back to the participating companies, often nine or even 12 months later. PayScale’s modern approach flips that on it’s head and uses the power of big data and cloud software to deliver highly-specific salary matches for positions companies need to staff immediately.
PayScale crowdsources salary profiles from individuals who currently hold those positions as they look to get their own report on what they’re worth in the market. This data on actual salaries and actual positions, is collected all day, every day. PayScale then provides access to this largest-in-the-world, ever-fresh data set to subscription customers along with software to create and manage compensation. A proprietary matching algorithm matches positions to salaries based on more than 250 factors, and lets companies continually monitor their positions and market trends based on fresh data.
PayScale Challenges You to Find a Better Data Source
If you’ve ever tried to catch a purple squirrel, we invite you to take the PayScale Challenge and let us show you how we benchmark even your toughest positions in 3 easy steps.
- Bring it. Bring PayScale your hard-to-price purple squirrel.
- Compare it. PayScale will help you determine an appropriate salary for that purple squirrel by matching the position with key drivers for pay from its database of more than 40 million unique salary profiles and applying its unique MarketMatch? algorithm to give you a free report. We’re confident that we can price your job better than any other data source and we invite you to compare the results.
- Share it. Once you’ve gotten your report, the PayScale Challenge invites you to share your experience with others through social media channels and we’ll reward you with free job matches when you start your subscription to PayScale Insight or Insight Expert.
“We’re launching the PayScale Challenge to let businesses know there’s a better way to get pay right, and that we can help them know what they need to pay in order to attract their purple squirrels,” said Tim Low, VP of Marketing. ‘The market is dynamic and volatile, so it’s important to know how to pay every day.”