Amazon Selects PayScale to Attract and Retain Talent at World’s Largest Online Retailer
Senior Leaders and HR Managers at Amazon Choose Payscale’s Compensation Management Solution to Determine the Right Pay for the Company’s Employees in Minutes
PayScale, Inc., the leader in modern compensation data and software, announced that Amazon selected PayScale’s MarketPay compensation survey management solution to determine the right pay in less time for the company’s massive workforce. Managing compensation at Amazon is an incredible undertaking, as the company often hires hundreds of employees each day across an exceptionally diverse set of positions ranging from data scientists to movie directors and warehouse managers. Amazon selected PayScale’s automated compensation analytics to dramatically reduce the time required to set pay for positions across thousands of jobs in Amazon’s various geographies.
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“As the definitive market leader across a number of industries, Amazon understands that its people are the company’s most important competitive differentiator. However, getting pay right at this immense and continually expanding company is extraordinarily complex,” said Scott Torrey, PayScale CEO. “Amazon hired tens of thousands of people over the past two years and the company is poised to continue this growth into the future. We are excited to work with Amazon to support their recruitment and retention efforts and, ultimately, to ensure the company gets the most return from its compensation investments.”
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Amazon will use PayScale’s MarketPay solution to analyze data from 125 compensation surveys and benchmark pay for positions across the company in a matter of minutes rather than months. MarketPay’s powerful data analytics automates the time-consuming process of pricing talent associated with traditional compensation surveys, allowing HR managers and other senior leaders to set the right pay quickly and easily. In addition, HR managers have increased confidence in their pay decisions using MarketPay’s highly visual reporting tools which show the right pay more clearly than interpreting data in a spreadsheet. Amazon’s managers can also use PayScale’s new Differentials Engine, a set of analytics designed to simplify the process of applying specific skills or geographic data which is essential for accurately pricing talent. Using PayScale, Amazon can more easily determine pay to recruit more great employees and ensure they keep the exceptional employees they already have in their workforce.
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