Comp pros have a lot on their plates. Ever-changing expectations, priorities, and market shifts add fuel to the fire, making their growing list of day-to-day tasks harder to accomplish, especially with limited tooling. The echoed need for automated, scalable market pricing fueled one of BetterComp’s many innovations: market pricing at scale.
This phrase has become so powerful that it’s recently been adopted by competing vendors; however, what it actually means varies from vendor to vendor.
In general, “at scale” can be used to describe any task that can be done across the board, in bulk, or at a large capacity. Through the lens of a compensation professional, it relates to making the task of pricing one job automatically repeatable across various geographies, ideally with minimal effort. Several CompTech vendors list this as a capability, but the true defining factor is if the platform empowers comp pros with flexibility and dynamic adjustments.
If we pull back the curtain on competing solutions, users can technically market price at scale, extending one job match across PayMarkets with minimal effort. However, end-users can’t reprice at scale with mass changes — changes that are required for most comp pros.
Picture this: you’ve priced all of your jobs using a national data cut. Now, leadership wants all IT jobs priced to a tech data cut, keeping all other job functions priced to national data.
With this new task at hand, market pricing at scale in other solutions is a one-way street with significant limitations. Repricing your IT job family to a tech data cut means you have to reprice all IT jobs, job by job, PayMarket by PayMarket.
Changing the game for compensation professionals, BetterComp’s dynamic and flexible approach to market pricing at scale means extensive time savings, scalability, and confidence for end-users. Codifying and pre-configuring your organization's unique guidelines and pricing principles ensures consistent processes across the organization, enabling users to apply different data cuts to different locations, easily change data cuts for entire job families or PayMarkets, and instantly compare results with a single click.
We’ve eliminated the need for spreadsheets and cumbersome manual workarounds often seen in competing solutions, moving from rigid job code keys to flexible PayMarkets, and from data cut priorities in Excel sheets to pre-configured roll-up policies.
So, imagine you’re being asked to reprice your jobs once a week instead of once a year. Maybe you’re adding real-time data into the mix, data providers are shipping more frequently, or your company is entering a new market with new roles. If your market pricing tool can’t keep pace with constant change, requiring manual work every time a change needs to be made, it hinders your ability to scale with confidence and efficiency.
By automating data cut selections with codified policies, BetterComp helps organizations unlock scalability, consistency, and confidence in their market pricing, ensuring effective budget allocation through granular, job-level data and freeing up time for other critical tasks.
Ultimately, choosing a vendor that can effectively enable automated and simplified market pricing at scale is paramount for future-proofing your compensation strategy.