RFPIO
The first step before creating an RFPIO intake form
Send the customer the Security Packet link
What is the $ ARR threshold for legal redline review
$20,000
Name That Dataset:
Access to modeled employer data without having to participate
HRMA
What month is the CBPR released each year?
March
The practice of openly sharing information about compensation with employees and job candidate
Pay Transparency
How do you access RFPIO?
Tile in Okta
or
"Create Intake in RFPIO" button on opp in SFDC
What is the ARR threshold to utilize net45 payment terms without a coupon
$10,000
Name That Data Set:
The world’s largest real time salary database
ERD
Name 3 of the top 5 factors that contribute to pay increases
1. Performance 72%
2. Market Adjustment/Talent Competition 67%
3. Inflation/Cost of Living 54%
4. Internal Pay Equity
5. Skills
The legal concept that equal work deserves equal pay regardless of an employee's race, gender, ethnicity, age, religion or other non-job-related factors
Pay Equity
Who is an internal point of contact for assistance/escalation with RFP's?
Nick DeMarco or Matt Donahue
Who sends redlined agreements for signature?
Deal Desk
Name That Data Set
Transparent employer reported data
Peer
What’s the primary reason organizations don’t have a formal comp philosophy/strategy?
A. We dont have resources
B. We did have one, but it's outdated and we need to revise it
C. We don't think it's necessary for our business
D. We don't know how
A. 31% We dont have resources
OR
B. 31% We did have one, but it's outdated and we need to revise it
13% We don't think it's necessary for our business
7% We don't know how
18% Unsure
Adjustments in compensation paid to an employee to account for variations in cost of labor and/or cost of living among locations
Geo Differential
Name a common Form type RFPIO is most used for?
Security Questionnaire
Vendor Questionnaire
Request for Proposal
Who countersigns NDA's on Payscale side?
Your manager!
How often is HRMA updated?
Underlying data is updated annually, however the results are aged monthly.
Customer facing, it's okay to say it's updated monthly
We asked organizations that expect salary budgets to increase why they think they will be higher than initially planned. The most cited reason was:
A. Change in comp philosophy or competitive positioning
B. Improved business performance
C. Increased competition for labor/labor shortage
C. The most cited reason at 71 percent is increased competition for labor, emphasizing that talent attraction and retention are still top of mind
Process of organizing jobs/career paths for each department.
Leveling
***Bonus Point***
Does Payscale help with this?
Underutilized and extremely useful feature within RFPIO
Search for answers to security/data warehousing/etc. Filterable by product and other categories
What four items are we able to accommodate on an MSA for deals under the ARR threshold?
1. Early Termination
2. Governing Law
3. Auto Renew
4. Removal of Publicity
How often is ERD updated?
Data is collected daily, and the data model is updated weekly to ensure a true representation of the labor market
We asked organizations about the root cause as to why their salary increase budgets were lower than initially planned . The most cited reason was:
A. Change in compensation philosophy or competitive positioning
B. Concerned about future economic conditions or business performance
C. Reduced competition for labor or labor supply surplus
B. Concerned about future economic conditions or business performance
Occurs when the pay of one or more employees is very close to the pay of more-experienced employees in the same job, or even those in higher-level jobs, including managerial positions
Pay Compression