All About MarketPay™
The MarketPay™ modeling system is compensate.com's proprietary technology for assessing your labor market's pricing dynamics. Two components work together to produce market pricing information of a quality and breadth that you will find nowhere else:

1. MarketPay™ starts with a standardized classification system that is applied to your salary survey data and your employees. Classification involves two simple and intuitive factors:

Skill Family (e.g., Systems Programming, Mechanical Engineering, Financial Analysis), and
Proficiency Level (e.g., Entry-level Professional).

The MarketPay™ system applies a common set of behaviorally defined levels of proficiency across all skill families. Our extensive research in a variety of industries and in domestic and international labor markets confirms that this array of levels can be used to optimally differentiate levels of proficiency universally.

2. MarketPay™ employs a sophisticated statistical engine developed by compensate.com to deal with the categorical nature of both the skill family and the level of proficiency while working efficiently with very large data sets.

The MarketPay™ statistical engine analyzes all available data that are relevant to your labor markets, not just those survey jobs that you are able to match to your internal jobs. As a result, the MarketPay™ modeling system produces a robust portrait of the pricing dynamics at work in your organization's labor markets.

In statistical terms, the MarketPay™ classification system and statistical engine are able to account for up to 99% of the variance in the data in most established salary surveys.

Because this method derives underlying market factors instead of benchmark averages, MarketPay™ is able to provide estimated market values for virtually every combination of skill family and level of proficiency in your organization - not just for specific benchmark jobs.

Output from MarketPay™ can be delivered in several ways. It can be distributed over the internet from compensate.com's server or from your organization's server via your intranet. The output can also be exported to your organization's HRIS or ERP and integrated with your salary administration systems.

Control: No matter how the information is stored, you have total control over access. You can enable access by specific human resources personnel, selected executives, all managers, or even all employees. In any event, we will customize the look and feel of the output to meet your specific needs. This makes MarketPay™ the ideal foundation for administering a market-based pay program in a decentralized or geographically dispersed organization.