PayScale Announces Data Marketplace and Adds Empsight to Growing HR Data Ecosystem
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PayScale Data Marketplace is the first solution of its kind to leverage AI-powered recommendations to suggest job pricing and enable direct access to purchase salary data from partner survey providers within PayScale MarketPay.
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At their annual Compference event, PayScale also unveiled the introduction of industry surveys for major verticals to help customers get highly specialized compensation data for industry-specific jobs.
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PayScale today announced an expansion of its partnership with JDXpert to seamlessly integrate JDXpert, the market leader in Job Description Management, into PayScale MarketPay with the ability to leverage PayScale’s market sourced data.
PayScale, Inc., the industry leader in compensation data and software, announced Data Marketplace, an AI-powered recommendation engine that uses machine learning to suggest salary survey data to users based on their information and behavior. Data Marketplace will enable users to purchase salary survey data from select third-party partners directly within MarketPay. PayScale’s Data Marketplace will be trialed with select customers in 2020 with an official launch in 2021.
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“PayScale’s vision with Data Marketplace is to help customers by providing access to the diversity of salary data they need to price jobs accurately and in the easiest way possible,” said Scott Torrey, CEO of PayScale. “PayScale MarketPay is already the most trusted survey management tool in the market, but with the Data Marketplace, customers have the ability to self-service salary data purchases with recommendations from AI-powered technology to streamline the entire process.”
The addition of an AI-powered recommendation engine provides employers with suggestions on salary data to purchase that they may not have even known they needed. This technology can not only save employers time but can help them become more accurate in how they pay.
“By using PayScale’s Data Marketplace, we have been able to identify potential survey matches that we haven’t yet purchased but may want to consider for the future,” said Lara Burky, Senior Benefits and Compensation Consultant for Texas Mutual Insurance Company and customer of PayScale. “We regularly use surveys that we only found out about because of the AI job matching feature in PayScale MarketPay. Data Marketplace has helped us uncover more data to accurately price jobs in financial services that are critical to our business and really important to us to get right.”
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PayScale welcomes Empsight International LLC to third-party survey providers participating in Data Marketplace, which already includes Mercer. Empsight is a global HR consulting firm that provides niche, specialized surveys targeted for complex, multinational enterprise organizations, including their renowned legal survey.
“We are tremendously excited to partner with PayScale on Data Marketplace,” said Jeremy Feinstein, co-founder and managing director of Empsight International LLC. “We view PayScale as a leading survey management platform and have recommended MarketPay to our customers for years. This partnership demonstrates our commitment to data transparency and will provide more employers with both quality data and choice of data that remains true to the source.”