A compensation management platform designed for professionals to efficiently BUILD, MAINTAIN, and USE compensation projects, including job descriptions, job architecture, salary ranges, and benchmarking. For most organizations, partnering with a compensation consultant is more effective and cost-efficient than handling everything in-house. This guide demonstrates how Payfederate empowers consultants to elevate their practice and deliver greater value to clients.
Subscription Options | Details | Typical Scenario |
|---|---|---|
Payfederate Consulting Edition | For consultant use only; read-only for clients to validate projects. | Consultant accesses Payfederate to BUILD; defers subscription decision until project delivery. |
Payfederate Child Subscription | For both consultant and client use. Consultant acts as administrator. | Consultant BUILDS and MAINTAINS, client USES. Sold either at project start or completion. |
Payfederate Direct Subscription | For client use. Consultant referred by client as administrator. | Client MAINTAINS and USES compensation data. Referral made at the end of the BUILD project. |
Most compensation consultants create broad-based pay structures and benchmark salaries using complex spreadsheets. However, spreadsheets pose several challenges:
Adjusting job architecture, salary ranges, or benchmark data requires recalculating or duplicating spreadsheets.
Spreadsheets demand extensive training, complicating team collaboration.
Clients often struggle with spreadsheets, requiring consultants to reformat data for validation.
Payfederate offers spreadsheet-like flexibility while addressing these issues. By leveraging Al, it streamlines tedious compensation tasks and enhances consulting practices in two key areas:
While many compensation consultants focus solely on building new or overhauling existing pay structures, Payfederate enables them to extend their services to maintaining and empowering clients to use these structures effectively. This section outlines how to deliver ongoing MAINTAIN and USE services.
With Payfederate, consultants can offer recurring revenue services, providing
With Payfederate, consultants can offer recurring revenue services, providing
Delivery Type | Key Capabilities |
|---|---|
Consultant-Driven: MAINTAIN | Updating survey benchmarks: Assess market changes, update job matches, and identify new pay ranges. Job architecture refresh: Adjust architecture due to strategy shifts or market conditions. |
Consultant-driven or self-service: MAINTAIN/USE | Merit cycle scenarios: Provide optimal merit increases and market adjustments. Creating a new job: Generate job descriptions and place jobs within the architecture. Pricing a new job: Benchmark externally, evaluate internally, and set market targets. |
Self-Service: USE | Employee communication: Employees access "My Pay" to view total rewards (base pay, STI, LTI, benefits). Offer management: Recruiters and managers analyze new hire offers. Job pricing reports: View market pricing and realtime job postings for insights. Job architecture: Share career paths and levels to support talent development. Reports and analytics: Track key metrics like gender equity, compa ratio, and range position with interactive analytics. |
The following is an example of how a Payfederate consulting customer could market a service offering based on the software. This is just an example – consultants can bundle many other services with Payfederate software, including executive comp, incentive plan design, and other services. Payfederate is just an ingredient in a more comprehensive solution for consulting clients.
In today’s dynamic labor market, evaluating compensation just once every few years is no longer enough. After your initial project, you’ll have clear job descriptions, a flexible job architecture, and competitive, fair salary ranges. This foundation will empower you to recruit, retain, and develop talent with confidence. However, as your business evolves, so will your compensation needs. New roles may emerge, market conditions may shift, and your compensation strategy may need to adapt. These gradual changes can affect your ability to drive business results if left unchecked. That’s why [Consultant] offers the Always On Compensation Support Plan—an annual subscription to ensure your compensation strategy stays aligned with your business goals.
