The partnership brings value to employers by using proven technology to address key processes and decision support needs relating to compensation.
Fayetteville, Arkansas and Orlando, Florida (PRWEB) March 14, 2017
HRsoft, a leader in Software-as-a-Service (SaaS) compensation planning software, and DB Squared, an innovative supplier of solutions for employers to value positions and build pay structures for their companies using objective data, 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.
Bruce Johanson, Principal of DB Squared, said: "Employers use the DB Squared 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 DB Squared 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. DB Squared 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, COMPview, lets employers use salary adjustments, merit increases and variable pay to reward employees based on a variety or performance, business and budget factors. Having a strong base pay structure is the underpinning of compensation planning."
The partnership between DB Squared and HRsoft standardizes data for users of solutions from both companies. The base pay structure developed in the DB Squared 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.
About DB Squared
DB Squared is a nationally recognized company providing simplified HR technology that empowers employers. The company's solutions improve business results by reducing employee turnover. This is achieved through the development of equitable and competitive base pay structures established with proven data-driven processes. DB Squared's SaaS solutions are continuously improving by way of recommendations from its customer users. Learn more at http://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.