Payfactors

Payfactors

4.3
(186)
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Payfactors is a suite of cloud-based compensation data management tools, designed to be a collaborative solution for teams.

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Payfactors review by Whitney W.
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Payfactors review by Glen S.
Glen S.
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"payfactors has changed the way we do business...for the better! "

What do you like best?

There are so many things we like about payfactors that it's hard to single out just one. When we originally selected pf, we were sold on the speed of the system and its ease of use. But, after implementation, I am most impressed by the innovation of the company and its vision for Compensation's future. Peer, the revolution is starting!

What do you dislike?

The transfer of information from our HRIS to payfactors

Recommendations to others considering the product

You might find products that can perform the same function as payfactors, but you won't find one that is more innovative and on the leading edge of the compensation industry.

What business problems are you solving with the product? What benefits have you realized?

Participation in salary surveys has been a breeze. We've been able to create reports that we can run periodically that used to take days to create. We are in the middle of solving a huge issue of where/how to store job descriptions as well as implementing version control. Their new product Peer will be changing the way we access and report on market data.

What Compensation Management solution do you use?

Thanks for letting us know!
Payfactors review by Farrah A.
Farrah A.
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"Analytical work - SIMPLE"

What do you like best?

I like having a tool that can automatically do all the gritty tedious calculations for me so that I can simply review the results and spend my precious time analyzing it. This makes for better decision making and reliability.

What do you dislike?

So far I don't dislike anything. I could just say that the transition phase and the implementation is a pain but it is all worth it. I prefer this method over doing this on an excel spreadsheet and making human error.

Recommendations to others considering the product

This is a tool you can use to better simplify your life and workload, by letting the tool do the grunt work while you do the actual analytics and decision making

What business problems are you solving with the product? What benefits have you realized?

The problems we are trying to solve for are retaining our current employees by paying them properly, and being competitive with the industry by improving our salary grids and comparable values...etc

Payfactors review by Angela R.
Angela R.
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"Nimble company and product, headed in the right direction"

What do you like best?

Because they are a smaller private company, they are more nimble and open to feedback. Their UI is sleek and all the primary functions are there.

What do you dislike?

Also because they are smaller, there is a little less rigor/framework around the implementation process. And there are areas where you have to reach out to them to do things, but I would think I should be able to as a tool admin. The organization data fields out of the box are more limited than I would hope - they don't reflect what I typically need to provide to the survey companies and some of the comp elements don't reflect how our company thinks of them.

What problems are you solving with the product? What benefits have you realized?

Still in implementation phase so no real benefits yet, but this should massively help with housing our market pricing work and performing analyses more quickly and accurately

Payfactors review by Jeff B.
Jeff B.
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"Love being a PayFactors customer"

What do you like best?

The user interface of the tool is very "app" like and easy to understand. Matching and pricing jobs, adding in scopes and cuts, and managing other items such as salary ranges and job descriptions are great! The reporting capabilities are also very impressive.

What do you dislike?

Because the reporting capabilities goes through Tableau, it can sometimes be difficult to create fancy reports without the help of PayFactors since the online version of Tableau is nowhere near as functional as the desktop version.

What problems are you solving with the product? What benefits have you realized?

We are able to quickly show gaps in our pay practices with the tools in PayFactors. It helps to show if we have a grade misaligned or perhaps it's graded appropriately and the department isn't using the salary range like they should.

Payfactors review by Kerra Z.
Kerra Z.
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"Payfactors - a great tool for the compensation professional"

What do you like best?

I am quickly able to pull together several survey's worth of data in just a few clicks to price jobs and determine competitiveness to the market.

What do you dislike?

Sometimes the uploading of the data and creating matches can be tedious. I also wish that there was an integration between our HRIS system and Payfactors, so we didn't have to manually pull and send our data all the time.

Recommendations to others considering the product:

Be very thorough in your evaluation. Be sure to ask all the questions that you want to and understand at times it can be somewhat labor intensive to update and upload all the relevant information.

What problems are you solving with the product? What benefits have you realized?

Payfactors saves a lot of time when you need to quickly price jobs. It has the ability to pull so much more information besides just base pay.

Payfactors review by Administrator in Financial Services
Administrator in Financial Services
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"Solid start"

What do you like best?

Stored benchmark history. I had a job that was deactivated last year. We reactivated the job and needed to confirm pricing and structure. It took all of 5 minutes to find the old job matches, review, update the pricing, and confirm internal equity.

What do you dislike?

The structures tab is the least effective for my needs in both current state and modeling. Structures are segregated into the different pay markets. Since I have employees in the same salary structure but different pay markets, I have to try to use the reporting capabilities of the program or export to excel to really analyze my data. Also jobs have to be published to be in the structures tab. so if I am redesigning a unit and creating new career ladders, I have to publish dummy jobs to create the models. These dummy jobs can throw off my current state reports.

What problems are you solving with the product? What benefits have you realized?

Speed and consistency on creating, reviewing, and updating market prices. Being able to store all salary survey documents in one search friendly database.

Payfactors review by User in Financial Services
User in Financial Services
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"Excellent interface, mediocre accuracy and user-friendliness"

What do you like best?

The ease of navigation and the job matching Project feature is very useful. The Data Insights reporting tool also has some interesting capability, and once reports are built, can be quick and reliable. The survey and compensation history is also easily available, so gathering trend data is a simple task.

What do you dislike?

We have had a considerable amount of issues in getting data loaded accurately, and any nonstandard requests to their service team can be tedious or difficult. Data Insights is also not the most particularly user-friendly reporting tool on the front-end. There are also no options for users to make mass updates on their own.

Recommendations to others considering the product:

There are some growing pains with implementation, but once you're in the system and have confidence in the data, there are a lot of useful features and an ease of use for the majority of the applications.

What problems are you solving with the product? What benefits have you realized?

There is potential to house a wide variety of data with PayFactors, and the ability to match jobs and run diverse reports for QA purposes allows us to stay vigilant in keeping accurate data.

Payfactors review by Aymee R.
Aymee R.
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"Efficient, Flexible and Forward Thinking"

What do you like best?

I appreciate the efficiency with which I can extract market data and the flexibility PayFactors offers when sharing market data - especially in blended roles - with our business partners. Without getting too far in the weeds, we can share data points or graphs that illustrate market conditions as well as our position in the market.

What do you dislike?

The amount of reports available is overwhelming and I feel like I'm not using the system to its full potential.

Recommendations to others considering the product:

PayFactors is leading the way with innovation. New product offerings will change the world of comp!

What problems are you solving with the product? What benefits have you realized?

We've been able to produce reports for business partners that allow them to visualize market position and trends.

Payfactors review by Kim  P.
Kim P.
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"Overall Experience "

What do you like best?

Being new to Payfactors, I do like the system overall and how I have the capability to weigh out different jobs and at the same time be able to customize the data to fit our business.

What do you dislike?

Overall, I haven't found anything that I strongly dislike but I feel that maybe more reports could be added and maybe a wizard could be added so that we can build our own reports rather than asking the reporting team.

Recommendations to others considering the product

yes

What business problems are you solving with the product? What benefits have you realized?

reviewing our old op model and creating a new job architecture which in the end will help us be more accurate and organized while being able to recruit and offer properly.

Payfactors review by Kristine L.
Kristine L.
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"Payfactors - Great Tool for Compensation Professionals"

What do you like best?

Payfactors has a very robust compensation management system that makes external survey information accessible and easy to manage. It also excels as a compensation analysis tool that is easy to use and very cost effective. Essential functions such as submitting information to external surveys and market analysis for salary structure updates can take a fraction of the time as opposed to traditional manual submission.

What do you dislike?

I honestly can't report on anything I don't like about Payfactors.

Recommendations to others considering the product:

I would recommend taking a look at the functionality and even if you are with another vendor - it was so easy to switch and the cost savings was totally worth it.

What problems are you solving with the product? What benefits have you realized?

Even though Payfactors has very robust functionality, my primary use is for a salary survey repository and market pricing. The amount of time it saves for job matching and pricing more than pays for the subscription fee. Prior to Payfactors, we were utilizing a competitor product that was much more expensive and with almost no difference in functionality.

Payfactors review by Ashley L.
Ashley L.
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"Excellent Analytical Tool for Compensation professionals"

What do you like best?

Payfactors is simple and easy to use, and has filled a gap in our team's compensation needs. Any time we have needed assistance with training, learning more about what the system can do, and customizing the software to our business needs, the Payfactors staff has been friendly, responsive, and will go out of their way to meet our needs.

What do you dislike?

We were having a few issues with setting up custom reports, but as soon as we let the team at Payfactors know, they offered to assist us in setting them up as well as have a webinar to educate us on how to use the reporting features to their full extent.

What problems are you solving with the product? What benefits have you realized?

Payfactors enables our team to compare multiple jobs across our company in a fast and efficient manner. Just a few short years ago, we had a very manual system of matching and comparing jobs. In an industry with an increasingly competitive job market, Payfactors has enabled us to automate much of our work, and allows us to respond quickly to our internal business lines.

Payfactors review by Chris H.
Chris H.
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"Payfactors is a Great product!"

What do you like best?

Payfactors is a great user friendly tool for market pricing and analysis and has allowed us to be more efficient. We are able to load all of our surveys into the system for a quick search for job pricing. It also helped significantly with survey participation. They are able to generate reports for us to complete the survey input which has saved many hours of work. Pricing a job is quick and simple and also allows you to generate a report that outlines the survey matches with market data and survey description to share with managers. I would highly recommend this product!

What do you dislike?

It hard to find anything with this system that I don’t like, they are always improving the product and there is even an “ideas” section for you to submit suggestions. Many of these suggestions are then implemented.

Recommendations to others considering the product:

The implementation of the product went fast and very smooth, I would recommend working with your Payfactors representative for training, while the system is easy to use and basically self-explanatory you will want to make sure you are taking advantage of all its capabilities.

What problems are you solving with the product? What benefits have you realized?

Market pricing – the system has allowed us to market price jobs quacking which in turn reduces the turnaround time to provide data.

Payfactors review by Randon W.
Randon W.
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"Powerful Compensation Analytic Tool!"

What do you like best?

Payfactors is continuing to improve. They continue to tweak and update the system based on recommendations from subscribers. Subscribers can offer suggestions that are voted on by other subscribers and often implemented. They are also continuing to expand the number of Jobs in their survey data. I also like how intuitive the system is to use. It is very easy to price and build a composites for a specific job or job family. So far the service has been incredible. All of the service team are trained Compensation Professionals who truly understand Compensation. The turnaround times on service related requests has been stellar! The reporting and modeling functions are also very useful and relatively easy to use.

What do you dislike?

I don't know if there are any functions within the tool that I dislike.

Recommendations to others considering the product:

Payfactors saves time! I am currently a department of one and Payfactors has enabled me the time to focus on other necessary things. The market pricing and reporting tools are powerful. The made ready reports have been very helpful when preparing presentations and working with leadership.

What problems are you solving with the product? What benefits have you realized?

Payfactors has allowed me to more accurately keep an eye on what the market is paying for specific roles. We now have more accurate and reliable information that enables us to make better business/compensation related recommendations and decisions. The software has saved me countless hours with its reporting and modeling functions. This has allowed me the time to focus on other business needs.

Payfactors review by Bonnie H.
Bonnie H.
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"Simplifying Comp Administration"

What do you like best?

The enduser experience is very intuitive. Love the Dashboards which include helpful analytics at a glance

What do you dislike?

There is not much to dislike about this product. I would say it's rather expensive, however the benefits far outweigh the cost and they offer plenty of perks to offset pricing. Ask about Charter Peer Membership.Sales, Implementation teams, and customer support is outstanding. Exemplary!

Recommendations to others considering the product:

It will simplify your comp administration

What problems are you solving with the product? What benefits have you realized?

One place to data warehouse, adding Job Description Manager for full package. Quick Analytics, easy search tools for matching, easy to customize what data points to show on robust reports and plenty of charts and graphs for executive summary.

Payfactors review by Joseph P.
Joseph P.
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"I love this software!"

What do you like best?

I love that I have the ability to consolidate our many salary surveys into one single platform. It saves so much time and energy when we are consulting with our clients on market data for new/revised/existing jobs.

What do you dislike?

When reviewing the job matches, you can hover over a survey match title to review the description. However, the description either disappears too quickly so you can't scroll down or when you click anywhere it drags something around and prevents you from doing anything else without messing something up.

Recommendations to others considering the product:

It's perfect if you have many surveys!

What problems are you solving with the product? What benefits have you realized?

We have many salary surveys that we participate in, and as a healthcare organization competing in a very competitive market, we need to be able to consolidate our 20+ surveys into one space where we can easily pull data from and have easy access at any given moment.

Payfactors review by Michael F.
Michael F.
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"Payfactors is easy to pick up, and provides excellent support and reporting tools for comp analysis"

What do you like best?

the project function lets me keep out composites up-to-date when completed, and the aging of our data enables a company of our size to participate in outside surveys less frequently, but still keep our data relevant.

What do you dislike?

report building is limited to the support team at Payfactors, and little options are available to me when I am trying to put something new together on a weekend.

Recommendations to others considering the product:

Payfactors is very useful to an organization that that is just starting to create their compensation structure and process. for more established companies, payfactors may replace internal tools that have been created already, but the cost might not be effective for what what it would replace (depending on the extend of the internal tools that were created).

What problems are you solving with the product? What benefits have you realized?

we are currently restructuring our compensation process. payfactors is allowing us to gather our past and current benchmark data easily to review it and make adjustments.

Payfactors review by Rebekah U.
Rebekah U.
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Verified Current User
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"Payfactors organizes your compensation data and saves you so much time!"

What do you like best?

I like several things about PayFactors - but currently - I am liking the Data Insights reports the best. You can create beautiful, adaptable reports with a few clicks of the mouse. I also really like the customer support we receive. Greg Provenzano has been so helpful!

What do you dislike?

I do not like that when benchmarking a job, you cannot remove some employees from the data summaries - without removing them from your PayFactors data.

What business problems are you solving with the product? What benefits have you realized?

PayFactors is helping us to improve almost every area of our approach to compensation. We are able to be more nimble in benchmarking, organize our job descriptions and begin to standardize our reporting.

Payfactors review by Emilie C.
Emilie C.
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"Compensation Consolidation"

What do you like best?

All of the salary surveys consolidated in 1 place making it easier to access everything with just a few clicks of the button. Also makes it easier to search through all of the survey data.

What do you dislike?

The time it takes to refresh the data in the system. When pricing a role and publishing it, it can take up to 2 minutes for the system to update. Pulling reports also takes a long time to load and refresh.

Recommendations to others considering the product:

It's a good first step into better compensation management. It's not currently solving all of our problems, but has made an improvement on our process. If the system continues to make updates and improvements it may be a full solution for us in the next few years.

What problems are you solving with the product? What benefits have you realized?

More accurate market pricing. I can respond to a market pricing request more quickly.

Payfactors review by Terry K.
Terry K.
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"Payfactors "

What do you like best?

I have been impressed with the intuitiveness of the system, along with the level of customer service I've gotten so far. After a quick tutorial through the system, I have been able to run comp reports, pull relevant data, and do it in pretty short order. The few times I have reached out with a question or a problem, I have gotten a quick and accurate response.

What do you dislike?

At the time of renewal, I did have to haggle a little bit in order to keep the cost structure within a reaosnable amount. I am not certain if the original contract was a smoking deal and they were bringing us up to normal market price or if they have significant increases from year to year, but be prepared to haggle.

Recommendations to others considering the product:

Make sure they can provide industry specific data!

What problems are you solving with the product? What benefits have you realized?

We're a growing organization and have a lot of technical positions we hire. Having timely data is important and Payfactors allows me to get it. The benefits are obvious - accurate pay data allows us to determine our pay position and Payfactors utilizes employer driven data, not just reported information from employees which I have doubts about. Being able to provide operators with the needed information ensures they continue to keep HR in the loop.

Payfactors review by Joe S.
Joe S.
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"Innovative Comp Software"

What do you like best?

Ease of Use. Much easier to get around, and remember how to use things than other Comp Software that I've used

What do you dislike?

Overall very solid. My only complaints would be survey matches don't automatically update when receiving new data. And as of right now, they won't let me connect Tableau directly to my data in PayFactors. I'm forced to either create a data dump and download it each time, or use their Tableau interface which is good, but doesn't contain every Tableau feature.

What problems are you solving with the product? What benefits have you realized?

Streamline the use and matching of our salary data

Payfactors review by Kendra W.
Kendra W.
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"Next level comp tool"

What do you like best?

PayFactors truly cares about providing an innovative tool and transforming the future of compensation management. The data insights tool and job description manager are perks on top of an already awesome comp benchmarking platform. The staff are personable and accessable. They take your feedback and see what they can do to resolve your questions.

What do you dislike?

I wish they had more data specific to the public accounting industry. The data for our other positions is very strong though.

What problems are you solving with the product? What benefits have you realized?

Managing job descriptions. Storing our benchmarks, staff data, salary structures and pay markets all in one place.

Payfactors review by Sharon B.
Sharon B.
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"Great application and resource"

What do you like best?

The easy access of market data mapped to our positions. Before Payfactors, we did it all on spreadsheets. This has made our jobs so much easier.

What do you dislike?

There's so much to learn! I wish I had more time to devote to learn all aspects of Payfactors

Recommendations to others considering the product:

Great resource with reliable data

What problems are you solving with the product? What benefits have you realized?

Being able to keep up with the retention demands of the organization. We are able to provide real-time answers in a short amount of time. We've cut 2 weeks off our turn around time on marketing pricing.

Payfactors review by Laura Harding M.
Laura Harding M.
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"Great Salary Survey Platform"

What do you like best?

I love the fact that we can upload our pay data to compare against market rates. I love the fact that we can benchmark jobs in specific geographic areas and blend jobs that are out of the norm. I love the ease of use and the reporting.

What do you dislike?

The only thing that I find hard to use is the pdf print outs of the salary reports - they come out too small to read and I usually end up using the export to Excel option.

What problems are you solving with the product? What benefits have you realized?

We are using the platform to do salary surveys in each of our 14 locations. We can also easily benchmark locations that surround our distribution centers to keep abreast of pay practices.

Payfactors review by Kim D.
Kim D.
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"I have been utilizing PayFactors to gather Market Compensation information for roles at 1st Global "

What do you like best?

I like that I can ask the Analysts to run a pricing project on newly created job descriptions

What do you dislike?

I feel like the roles that we choose to publish on our company's list are not re-evaluated quarterly or every 6 months due to changes in the external market place and that the data ends up getting stale

What problems are you solving with the product? What benefits have you realized?

We have needed to make multiple market adjustments based on data that is being pulled on "like" roles. We are hoping to see external attrition rates drop due to making proper and timely comp adjustments.

Payfactors review by Brett O.
Brett O.
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"Easy to use and extract data "

What do you like best?

The tool is easy to use and to find good data matches. I like that many levels are usually available by title so you can get a good feel of how a job varies based on experience.

What do you dislike?

Some industries are under represented such as agriculture and heavy equipment so we have to use what is available and then make some educated guesses based on other data.

What problems are you solving with the product? What benefits have you realized?

As the organization grows into new regions or develops new jobs, we utilize PayFactors to help use understand what the market is paying and possibly what the job compares to in the marketplace.

Payfactors review by Administrator in Telecommunications
Administrator in Telecommunications
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"Senior Manager"

What do you like best?

The product is very easy to use. Switching between jobs and locations is very simple. Data is very accurate. We use it all the time for one off requests and will use it for creating grades and ranges at some point.

What do you dislike?

I don't like having to create a new project for each job analysis that we do. There is no setup to save settings that makes it quicker and easier. Having to go back in to each project makes it not as quick to use or get data. Too many saved projects makes it hard to locate. I do know there is a search feature though.

Recommendations to others considering the product:

Consider ease of use in your decision making.

What problems are you solving with the product? What benefits have you realized?

We have used it for promoting internal equity among jobs and giving location differentials based on different areas of the country where employees live. We would like to see an international piece at some point as some questions are coming up from employees in other countries and we have no way to validate their claims.

Payfactors review by Ashley R.
Ashley R.
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"Payfactors Review"

What do you like best?

All the recent initiatives to improve the Payfactors system to accommodate user requests. The improvements have added a lot of value to our organization while we tackle a huge bench marking initiative. Also, our Client Service Representative has been extremely attentive to our needs and has an impressive response time. Our relationship with Payfactors has grown and is very much appreciated.

What do you dislike?

If anything, the inability to drag market data bench marks from one job to another during matching activities and not having an expand feature when entering a project to show current matches of jobs in the project.

What problems are you solving with the product? What benefits have you realized?

We are currently bench marking all exempt jobs to evaluate company pay compared to the competitive market. Since this project is ongoing, we have not reached a point where we have been able to fully realize the full impact/benefit; however, the benefit of Payfactors is having the ability to upload all job profiles and employees to do such a large project and export reports to analyze data.

Payfactors review by User in Environmental Services
User in Environmental Services
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"PayFactors User Review"

What do you like best?

I love how intuitive and easy to use the system is. With the new redesigned sleek look with the tiles, it makes it easy on the eyes and very user-friendly to use.

What do you dislike?

I like the new Peer tool but wish more companies within our industry were represented. This would make the tool more useful with more data sets/points for relevant jobs in our market/industry.

Recommendations to others considering the product:

I recommend utilizing their resources with projects such as tough to price jobs, data services and much more. They are very responsive and are great to work with.

What problems are you solving with the product? What benefits have you realized?

Market adjustments for areas within North America that are seeing wage spikes such as those impacted by oil & gas or the technology industry (Amazon).

Payfactors review by Rajat J.
Rajat J.
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"Automation on your keys"

What do you like best?

User interface & ease of handling are the two major features of liking me this product

What do you dislike?

Could have the option of uploading multiple internal data point like internal median for Base salary & Target Total Cash to do the internal parity analysis by job as compared to market data.

What problems are you solving with the product? What benefits have you realized?

We are preparing all the internal market reference points globally. it acts as a central repository for all our surveys from different vendor and allow us to do analysis accordingly

Payfactors review by Administrator in Mining & Metals
Administrator in Mining & Metals
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"Excellent Analytics Tool and Customer Service!"

What do you like best?

Payfactors is an easy-to-use analytics tool that has helped us tremendously in aggregating market data to review our salary structures, extracting external market data in a pinch, and reporting. The system was able to accommodate our requests to build three separate salary structures, and it was one of the very few in the market that was flexible enough to convert data from various countries in several different currencies using specific variables that we provided for tax rate, medical benefit, and purchasing power parity. However, aside from the system, what we liked best about working with Payfactors was the knowledgeable staff members that we had the opportunity to work with - they provided outstanding customer service to us at every stage of the process (pre-sale, implementation, post-implementation), and even now (over a year later!) on an ad hoc basis.

What do you dislike?

No complaints here! We have really enjoyed our experience with Payfactors so far!

What problems are you solving with the product? What benefits have you realized?

The system has helped us ensure that we are benchmarking roles correctly during the annual review process, and has been a great resource in pulling external market data for compensation recommendations!

Payfactors review by Stephanie P.
Stephanie P.
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"Makes my life so much easier!"

What do you like best?

Very intuitive interface, constant improvements, and quick customer service. We have put in requests for custom reports, new functionality wishes, and all are addressed quickly. Coming from tracking our market data in Excel in the past, this is a lifesaver. It keeps all our data organized and easy to find. We are now very excited about the new minimum wage map tool.

What do you dislike?

I wish the job description tool wasn't an additional cost because I'd love to use it but haven't been able to get it into our budget yet.

What problems are you solving with the product? What benefits have you realized?

We are solving the problem of being competitive with the market and retaining our employees. This helps us provide information to recruiting, HR Business Partners and managements quickly and reliably.

Payfactors review by L R.
L R.
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"Must-Have Compensation data source"

What do you like best?

Highly accurate and credible data. Up to date at all times. Excellent reporting functionality, exceptional customer services. All of these factors combines allows me to provide up to date and credible data to my business at all times. When I can't find an exact match for a role myself, my PayFactors consultant is always able to help. I also value the social networking aspect of the system. Other PF members are generous with sharing information and helping answer questions - about a wide range of HR related topics.

What do you dislike?

I only wish I had more time to use this in my role - there is a lot more to the system that I have not had time to fully utilize.

Recommendations to others considering the product

Spend as much time as you can with your account representative before you do a data upload. There are a lot of features that you can use once you fully upload your employee and job related data.

What business problems are you solving with the product? What benefits have you realized?

Prior to PF I did not have access to a compensation source for many roles within our organization. I was constantly trying to appease managers who needed reliable and up to date compensation data for recruitment and retention purposes. The PF data has helped us ensure we are paying accurately, which has not only saved us money (from over-paying salaries) but has helped pinpoint where we need to increase salaries to ensure retention of key talent.

Payfactors review by Leah T.
Leah T.
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"Great interface; not the best for non-profit data"

What do you like best?

There is a lot of data for many well-known jobs. The interface is intuitive and we have been able to create the pay structure we needed easily.

What do you dislike?

There are not as many jobs that are relevant to non-profits which is our industry. Sometimes we've asked for special jobs to be priced and they weren't able to do that.

Recommendations to others considering the product:

The support team is fantastic - they are very responsive and have offered better customer service compared to some of our other HR vendors. Rely on them to help you- they are willing and able.

What problems are you solving with the product? What benefits have you realized?

We started from scratch to create a compensation structure. We liked that we could get everything we needed in one place- job descriptions, job prices, markets. etc. We were able to align our pay based on what we learned in Payfactors.

Payfactors review by Kristy C.
Kristy C.
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Verified Current User
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"PayFactors is a helpful and convenient tool"

What do you like best?

I love how I can easily upload all of my information and more readily and easily utilize that same information for all market projects.

What do you dislike?

Sometimes it is difficult to find matches for some of the jobs we have and there are times when salary range information is not as readily available.

Recommendations to others considering the product:

There are so many features, so it is highly recommended to utilize the PayFactors team for employee training.

What problems are you solving with the product? What benefits have you realized?

PayFactors is a huge help with conducting market pricing research and provides the much needed convenience of coming to one place for what we need most. This saves time for me and for the company as a whole.

Payfactors review by Lisa D.
Lisa D.
Validated Reviewer
Verified Current User
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"Great source of compensation data"

What do you like best?

Payfactors has been a great source of compensation data. We use it for all of our job evaluation needs.

What do you dislike?

There is no summarized incumbent data. It's helpful to know if we're talking 5 incumbents or 500. The other area that frustrates me is that the data is truncated to show $32.5 vs $32,500 (similar to other survey data), so I need to do extra work in excel.

What problems are you solving with the product? What benefits have you realized?

Ease of system use. Consolidates data and provides job descriptions too.

Payfactors review by Nicholas C.
Nicholas C.
Validated Reviewer
Verified Current User
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content

"An Excellent tool"

What do you like best?

I like the Data Insights tool, and how you can easily make numbers on a screen into something you can take to an executive board meeting

What do you dislike?

I think there should be a user interface to upload employee data

Recommendations to others considering the product

This software will help you to be more efficient during the sometime tedious process of compensation

What business problems are you solving with the product? What benefits have you realized?

we have used payfactors to help us find different pay ranges based on the geographic location of the employee, rather than price every job for our HQ location. Using the Data Insights we have been able to directly track the salary budget for every department.

Payfactors review by Internal Consultant in Higher Education
Internal Consultant in Higher Education
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"Streamlining Compensation"

What do you like best?

I enjoy the efficiency with which I can price jobs with market salary survey data points across multiple surveys. After loading updated purchased survey reports we can easily update our pricing projects and receive updated analysis figures without a bunch of Excel number crunching. Aging is already accounted for within each pricing project to a predetermined data that our team can assign. I can graphically view each level within a priced job family to ensure levels are appropriately reflected and outlying data is easily highlighted. We are in the early stages of implementing PayFactors. Even without having fully implemented the project we are seeing significant benefits. I am excited to see what we can do as we get into the more structured in place in the system and can better utilize the advanced reporting functionality.

What do you dislike?

Differentiating benchmark titles can create a little extra legwork in searching for matches. However, the time spent searching for the benchmarks within PayFactors still is faster than going to each survey individually for the data and manually analyzing the job.

Recommendations to others considering the product:

PayFactors has a team of very knowledgeable compensation professionals behind the scenes to help guide you through implementation and guide you on product functionality. They are prompt, professional, knowledgeable and current with pressing issues facing compensation analysts.

What problems are you solving with the product? What benefits have you realized?

We are using PayFactors to help create a formalized compensation structure. We have been able to more easily track compensation data as it is changing and are positioned to better share analysis projects across our compensation team.

Payfactors review by User
User
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"It really helps in the market pricing process and makes my life as Comp Partner much easier"

What do you like best?

The way we can upload the data with the support with PayFactors team and the awesome service they provide. Besides that the tool is always updating and implementing new features that helps us along the way.

What do you dislike?

The main problem is that you have to do your home work and have a great accuracy in your own data base in order to create good matchings. This is challenging when you have 20K+ employees in your database and there is a fully manager self-service model implemented.

Recommendations to others considering the product:

Check the other tools in the market and evaluate thoroughly. I'm sure PayFactors tool will be one of the finalists and the team will help you understand all the benefits. It's really a good tool to acquire and use in your Compensation practice.

What problems are you solving with the product? What benefits have you realized?

Faster market pricing helping understand market and provide good information to recruiters in order to hire better talents with a fair and competitive pay.

Payfactors review by Marisa G.
Marisa G.
Validated Reviewer
Verified Current User
Review Source
content

"An abundance of data available, if you can match it to your roles/company"

What do you like best?

Lots of data available, can gain insights

What do you dislike?

Hard to match their roles with your roles, to make sure you are comparing apples to apples

Recommendations to others considering the product:

Payfactors offers a lot of data - you will need to spend some time classifying/matching your own roles so that they match up with the roles that Payfactors has benchmarked.

What problems are you solving with the product? What benefits have you realized?

comp benchmarking. we've realized that we need to offer bonuses if base isn't comparable with others.

Payfactors review by Consultant
Consultant
Validated Reviewer
Verified Current User
Review Source
content

"Job Description Tool - New User"

What do you like best?

The ease of the tool makes it much easier to process. Being able to create a workflow, with history, also is very helpful than having to keep track with paper and version control

What do you dislike?

I haven't really come across anything I dislike. I do with we could have a place to enter the pricing and link the market data to, instead of doing them both separate. I wish we would tie it all in at one time.

What business problems are you solving with the product? What benefits have you realized?

Increasing effectiveness by streamlining processes. Creating a history/version control to keep up with historical data. Also, approval history to know the person to circle back to if there are any questions.

Payfactors review by Jason W.
Jason W.
Validated Reviewer
Review Source
content

"Very good product"

What do you like best?

The best thing is the ease of use, especially for matching jobs to survey data.

What do you dislike?

Getting data into the system without IT support can be difficult as many of the fields do not line up with what we have in our SAPHR system.

Recommendations to others considering the product:

If you are looking for a way to better store job descriptions, salary survey data, and quickly match jobs to survey data then I would definitely recommend PayFactors. The system is very easy to use and the customer support team is very timely and helpful.

What problems are you solving with the product? What benefits have you realized?

We are now able to more quickly grade jobs and keep them close to market on a regular basis.

Payfactors review by Administrator
Administrator
Validated Reviewer
Verified Current User
Review Source
content

"A hope for the future"

What do you like best?

Payfactors has provided a lot of insights to our compensation plan at my work. It provides a lot of reporting functionality and gives us hope for easier compensation in the future.

What do you dislike?

Some of their automation efforts are not quite up to industry. we have to manually upload any org data as opposed to creating a automated data transfer periodically. This proves cumbersome for our compensation team.

What business problems are you solving with the product? What benefits have you realized?

We are automating our yearly compensation analysis. Previously it has been a static spreadsheet that is manually updated and we have discovered a lot of the errors associated with keeping a manual spreadsheet will disappear with a compensation tool like payfactors.

Payfactors review by Erica C.
Erica C.
Validated Reviewer
Verified Current User
Review Source
content

"Everything I need, potentially in one place"

What do you like best?

The integration of my data with market value. I can make market matches on screen, it maps to my employee data and turns around a convenient report that my management can understand to make decisions. It still leaves the analysis to the professionals, but it manages the data.

What do you dislike?

Because it's internet-based, some of the pages can be slow to load depending on connections.

Recommendations to others considering the product:

Take advantage of all of its features!

What problems are you solving with the product? What benefits have you realized?

It is saving us lots of money by not having to use as much manpower to manually market price jobs, create spreadsheets, etc.

Payfactors review by Sonia U.
Sonia U.
Validated Reviewer
Verified Current User
Review Source
content

"Very useful tool for all Comp professionals"

What do you like best?

What I like best is the ability to customize reports and automate processes that were once very excel driven and manual.

What do you dislike?

I dislike that I am unable to have greater access to Tableau, and that as users we can not load data into pay factors ourselves, and that we have to go through our reps.

What problems are you solving with the product? What benefits have you realized?

We are using Pay factors for a lot of our analysis, which is helping us be proactive to resolutions that may be needed, we have realized benefits such a quick turn around of analysis because of the easy access to information via pay factors.

Payfactors review by Celeste T.
Celeste T.
Validated Reviewer
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content

"Great tool, great service!"

What do you like best?

PayFactors is very user friendly, easy to navigate and feedback from customers is taken into consideration. Service is top notch, I always get the help I need and always get a response if not by the end of the within 24 hours of my request.

What do you dislike?

I don't have a dislike, just some features that would be nice to have. I know they are working on always enhancing and improving the system so I am patient. I see improvement on the site regularly so I have no problems.

Recommendations to others considering the product:

It is a great product with great service.

What problems are you solving with the product? What benefits have you realized?

I am able to find market data quickly and efficiently. I am able to price like jobs and align them easier by using the project tile and creating multiple projects which I was not able to do with our last provider.

Payfactors review by Beth L.
Beth L.
Validated Reviewer
Verified Current User
Review Source
content

"Wealth of information and easy to use"

What do you like best?

Great dashboard that is easy to use and understand. wonderful customer service. Easy integration with current payroll data.

What do you dislike?

Rates seemed a tad low for my industry in certain parts of the country. worked with rep to see if new data was available or what could be cause of issue.

Recommendations to others considering the product:

Great price point for all the data that is given. So much easier that consolidating individual survey data on your own! Very user friendly.

What problems are you solving with the product? What benefits have you realized?

Labor budgeting and planning. We have the same position in over 50 cities. It has helped us be competitive and react to local labor markets.

Payfactors review by Asif L.
Asif L.
Validated Reviewer
Verified Current User
Review Source
content

"PayFactors Compensation Management Tool Review"

What do you like best?

The analytics and ability to search job matches from its pricing tool. The ease of having all our salary survey data uploaded.

What do you dislike?

There are some modules (i.e., job descriptions) that would have been nice to have, but are supplemental to our current subscribtion

Recommendations to others considering the product:

New enhancements always are being rolled out making it a really dynamic tool

What problems are you solving with the product? What benefits have you realized?

being able to reduce time in market pricing jobs.

Payfactors review by Administrator in Law Practice
Administrator in Law Practice
Validated Reviewer
Verified Current User
Review Source
content

"Outstanding compensation analysis software "

What do you like best?

Payfactors is easy to use compensation software that automates and enhances the market analysis and salary structure process. They have outstanding customer service that allows you to take advantage of all of he features they include such as data analytics and salary structure modeling. They also offer a job description management tool.

What do you dislike?

I really like the entire software. The only item I would suggest is setting up an integration file with your HRMS system during implementation so your data is always up to date.

What problems are you solving with the product? What benefits have you realized?

Market analysis, including management of third party survey data

Salary structure modeling

We also use Payfactors for their proprietary compensation data.

Payfactors review by Edward C.
Edward C.
Validated Reviewer
Review Source
content

"Payfactors greatly increased our efficiency with market data analysis!"

What do you like best?

Most of all we like being able to show the composite pricing reports to management so they can see the job matches and related data that make up the pricing. We also like the fact that job matches are maintained each year, and the assistance that Payfactors provides with survey participation.

What do you dislike?

Paymarket functionality can be confusing, but that is most likely because we don't use it enough.

What problems are you solving with the product? What benefits have you realized?

Payfactors helps us consolidate our market data into a single repository, and allows us to retain our job matches, making us much more efficient. It is also important for us to be able to share our job pricing with management so they can see the market data that backs up the ranges and salary recommendations that we create.

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