DBSquared and HRsoft Form a New Strategic Partnership to Help Employers Develop Data-Driven Solutions for Equitable Pay, Job Valuation and Compensation Compliance
Employers have growing needs in this area due to increased regulations from State and Federal government agencies addressing pay equity and fair pay.
Fayetteville, Arkansas and Orlando, Florida – DBSquared, an innovative supplier of solutions for employers to value positions and build pay structures for their companies using objective data and HRsoft, a leader in Software-as-a-Service (SaaS) compensation planning software, have announced a strategic partnership.
The partnership brings value to employers by using proven technology to address key processes and decision support needs relating to compensation. A priority of employers is to re-evaluate their jobs based on objective criteria to determine if associates doing substantially similar work are paid equally. Referred to as “comparable pay,” this is the main driver of growing regulations across the country.
Compliance with those regulations has become a hot topic among human resource professionals and senior executives. A TV commercial by car manufacturer Audi aired during the 2017 Super Bowl highlighted the need for equal pay for men and women as its theme bringing further attention to the topic.
Blair Johanson, Principal of DBSquared, said: “Employers use the DBSquared software and proprietary job valuing algorithms to build base pay structures that are consistent, objective and defensible. Even if positions have different duties associated with them, the value derived from those jobs may be the same or similar. The software offers an efficient way to evaluate and price jobs based on their value. The result is a data-based model based on compensable factors. Referred to as internal equity, this is a foundation of how people are paid in a company using an objective approach.”
Describing the partnership with HRsoft, Johanson noted: “We recognize the desire of companies to have well-rounded solutions for their compensation issues. That is the basis of the partnership with HRsoft. In addition to using internal factors for pricing jobs, the software allows employers to use external market data in the development and validation of their pay structures. A combination of internal and external data is the best way to value jobs. The output of the DBSquared system is a complete job structure and corresponding pay ranges for all positions in the company, built using data.”
David Kennedy, CEO of HRsoft, commented: “Compensation professionals have clear job valuing needs. Their goal is to pay people fairly. DBSquared brings a consistent process to value all job classifications and come up with a strong structure for base pay. Once that is created, the HRsoft Compensation Planning solution lets employers use salary adjustments, merit increases and variable pay to reward employees based on a variety of performance, business and budget factors. Having a strong base pay structure is a foundation of compensation planning.”
The partnership between DBSquared and HRsoft standardizes data for users of solutions from both companies. The base pay structure developed in the DBSquared software can be transferred to the HRsoft COMPview solution for presentation to compensation planners and other managers for making further compensation decisions. Analytics and management reporting of the data is critical for making strategic decisions about compensation. Reporting supports compliance with the relevant fair pay and equitable pay regulations by identifying areas in need of attention and action.
DBSquared is a nationally recognized company providing simplified HR technology that empowers our customers. We improve our customers’ return on investment by reducing employee turnover through the development of equitable and competitive base pay structures established with proven data-driven processes. DBSquared’s SAAS solutions are continuously improving by way of recommendations from its customer users. Learn more at www.DBSquared.com.
HRsoft supplies innovative Cloud-based compensation planning software solutions that automates the compensation planning process and workflow for employers. This, in turn, helps businesses enhance employee engagement and retention. Scalable and supported by award-winning client service, HRsoft enables organizations to manage their compensation planning process in a centralized, secure system. Discover more at: http://www.HRsoft.com.
Download our free HR Guide to a Compliant, Equitable & Competitive Compensation program on the right or click below to contact us for a free demo!