Features
With MarketPay, you get a private web-site available only to members of your work group. Built on a powerful and secure technology platform, the site is available to your staff around the clock and around the world.
Point and click market pricing
Our user-friendly interface allows you to create, change and maintain your benchmark pricings in a fraction of the time that it takes you now. Data can be aged, adjusted and weighted according to your specifications. Projects that used to take weeks can be done in a matter of hours with MarketPay.
MarketPay's powerful search capabilities help you find survey matches in an instant. By searching on key survey job identifiers (titles, text in the survey job descriptions, etc.), you can quickly find potential survey matches for your jobs.
Automated Survey Participation
In MarketPay’s Survey Participation Center, we gather together all of your survey participation information, including due dates, new or revised survey job codes and descriptions, data submission formats, links to publishers websites, etc. Interactively build your survey submissions by replicating previous year’s matches, adding new positions, and generating data submission worksheets. We program into MarketPay each survey provider’s participation format and so that you can generate spreadsheets that match the publishers’ requirements.
Powerful Report Writer
MarketPay includes our own proprietary Report Writer, an easy-to-use module that enables you to build your own reports of any data in the system. Without having to learn SQL or any other special language, you can quickly pull together reports that integrate employee, job and market pricing results. Reports can be downloaded to spreadsheets, enabling you to conduct virtually any type of analysis. Instead of spending 90% of your time pulling data together and only 10% on analysis, MarketPay flips this paradigm so that you can focus on the higher level tasks.
Presentation Graphics
Using the Report writer and Graphing Module, you can quickly build colorful and useful graphs to enhance any presentation. The Report Writer allows you to create a variety of graphs including scatter plots, bar charts and regressions utilizing cubic, quadratic and linear formulas.
Merit and Structure Modeling
The Model and Analyze Compensation Structures tool gives you the capability to analyze and create proposed compensation structures. In the tool, you can create a Proposed Structure model based on a variety of factors such as the average market rate for all of the priced jobs in each grade, a regression equation, an increase in the current structure ranges by a specified percentage, or by manually inputting the proposed numbers (minimum, midpoint, maximum).
The Model and Merit Matrix tool gives you the capability of creating models to determine salary increases based on performance rating scores and compa-ratio or range penetration. The system will then determine the employees that fall into each matrix cell and the increase amount spent, based on the model. You can then drill down to view a list of employees within the cell and their proposed increase amount and percent.
