Market Pricing Evolution
If you’ve been in compensation for... a lot of years, you likely remember the days when your market data came from hard copy reports. (Do you remember those three ring binders??) You’d then spend the next several months doing data entry into what became a humongous spreadsheet so you could come up with your market reference points.
You were happy when it was all done, but then you’d have to do it all over again the next year.
Does that bring back feelings of nostalgia? No? Well, I can’t say I blame you.
The Emergence of Market Pricing Systems
If you were anything like me, it felt like a game changer when the first cloud based market pricing systems came onto the scene. Market data was magically at your fingertips! What took months to complete could now be done in weeks. Imagine that!
I remember logging into my first online market pricing system; the excitement I felt when I could search through my Mercer, Radford, and Towers (now Willis Towers Watson) surveys within the application.
The best part was pricing a job in several minutes versus the half hour it used to take. Once I had my first taste of using market pricing software, I knew I’d never go back to data entry and spreadsheets (as much as I loved my beautiful spreadsheets).
I was so thrilled about my experience using technology, that I left my practitioner role to join the emerging compensation software space. Creating delight for my kindred compensation peers was enormously rewarding. It still is. And that is why I joined BetterComp.
I couldn’t pass up an opportunity to be part of a company that focuses on YOU, the customer, with a mission to craft a Better market pricing experience end to end.
The Changing Compensation Landscape
Since I joined the compensation software world, the comp landscape has evolved quite a bit:
Data has become more accessible
There are more ways to slice and dice survey data than ever before
Survey vendors have continued to refine the way they collect, organize, and provide data back to you
You want to do more with the data you have, to glean insights that are not immediately evident when looking at the data
You want to feel confident in the accuracy of your market intelligence to help drive better decision making
You want to maintain consistency in how you define market matches for different jobs in different locations
You want to get your work done when you want to do it, without having to wait days for a vendor to load data
And you want to know when and where those pesky anomalies and outliers are hiding
The problems we’re trying to solve for you today are not the same ones from 20 years ago. How you approach compensation has evolved, but the solutions you’ve been using have not fundamentally changed. So you’ve been experiencing a different kind of friction in your market pricing process. We’re on a mission to help you get rid of that friction and make market pricing Better.
Listening to your ideas and feedback has been central to our approach in building a Better solution, enabling a Better process. Technology is rapidly advancing in so many areas of our lives. We believe that it’s time for market pricing technology to meet you where you are today, and to carry you where you’re going tomorrow.
I’m looking forward to collaborating with you!
Co-Founder and Chief Customer Officer