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Payfactors description
Payfactors, by Payscale, is a cloud-based software suite designed to manage all aspects of employee compensation. It offers tools to research competitive salaries, build salary structures, plan and manage budgets, and ensure pay equity across your organization. Payfactors is suitable for businesses of all sizes and boasts a large database covering numerous industries. It stands out for its focus on data accuracy, transparency, and user-friendly design, promising to simplify compensation management and improve decision-making.
Who is Payfactors best for
Payfactors is a cloud-based compensation management software best suited for large enterprises in industries like finance, healthcare, and IT. Users praise its reliable salary data and convenient "Quick Price" tool. However, some find the interface challenging to navigate. Payfactors helps manage all aspects of employee compensation, from benchmarking to pay equity analysis.
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Best fit for enterprise companies.
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Ideal for Finance, Healthcare, Retail, and Software/IT.
Payfactors features
| Supported Payfactors supports pay equity analysis, including gender and ethnicity breakdowns. |
| Supported Payfactors supports salary benchmarking against industry standards and competitors. |
| Supported Payfactors streamlines compensation planning, including merit increases, bonuses, and rewards. |
| Supported Payfactors supports salary benchmarking, pay equity analysis, and compensation planning. |
| Supported Payfactors provides a large database of salary data and market insights. |
We evaluate the sentiment that users express about non-functional aspects of the software
Value and Pricing Transparency
Customer Service
Ease of Use
Reliability and Performance
Ease of Implementation
Scalability
Payfactors reviews
We've summarised 507 Payfactors reviews (Payfactors G2 reviews) and summarised the main points below.
- "Quick Price" tool is very convenient and easy to use.
- Reliable and up-to-date salary data.
- Robust data set for HR market analysis.
- Excellent customer service and support.
- Difficult and non-intuitive user interface, especially for new users.
- Limited international data availability.
- Overly generalized and limited data in some areas.
- Some features like Job Description routing are inflexible.
Payfactors pricing
The commentary is based on 74 reviews from Payfactors G2 reviews.
Payfactors' pricing is generally considered high, but many reviewers feel it's worth the cost for the valuable compensation data and time-saving features. Some users mention additional costs for certain features, while others appreciate the bundled value received through platforms like ADP. A few users have expressed dissatisfaction with pricing, especially regarding limited support or inaccurate data.
Users sentiment
See the Payfactors pricing page.
Payfactors alternatives
ComprehensiveMore focused on Finance, Banking & Insurance, Software, IT & Telecommunications, and Professional Services. Has more momentum. Fewer features for compensation management. A Payfactors competitor and alternative.Read more
HireologyBetter for multi-location businesses, especially in retail automotive, healthcare, and hospitality. More focused on applicant tracking, onboarding, and HR analytics. A Payfactors alternative and competitor.Read more
MarketPayBetter for managing compensation across international markets. More suited to larger enterprises. Easier to implement and scale. A Payfactors competitor and alternative.Read more
AssembleMore focused on technology companies and equity-heavy compensation. Offers better offer letter creation. Payfactors alternative for those prioritizing streamlined compensation management. Has less momentum.Read more
PaycorBetter suited for payroll, recruiting, onboarding, benefits administration, time tracking, and talent management. More user-friendly for basic HR tasks but has less transparent pricing.Read more
QuintoMore focused on job description management. Better for Non-profit & Government, Professional Services. Growing faster than Payfactors. Provides Workday integration.Read more
Payfactors FAQ
What is Payfactors and what does Payfactors do?
Payfactors, by Payscale, is a cloud-based compensation management software. It offers salary benchmarking, pay equity analysis, compensation planning, and budget management tools. Payfactors helps businesses make informed compensation decisions, ensuring fair and competitive pay. It's ideal for HR professionals in various industries, especially finance and healthcare.
How does Payfactors integrate with other tools?
Payfactors integrates with various HR and payroll systems, though specific integrations aren't explicitly listed. This connectivity streamlines compensation management by centralizing data and automating workflows. Contact Payfactors directly for a detailed list of integrations.
What the main competitors of Payfactors?
Alternatives to Payfactors include Comprehensive, a cloud-based compensation management software, and Assemble, which helps manage employee compensation and ensure pay equity. Other competitors like Hireology focus on hiring and applicant tracking. Quinto specializes in job description software, and ADP Workforce now offers a broader HR suite.
Is Payfactors legit?
Payfactors is a legitimate software solution for compensation management. User reviews praise its up-to-date salary data and excellent customer service. However, some users find the interface challenging to navigate. Overall, Payfactors is a safe and helpful tool, especially for HR professionals needing reliable compensation data.
How much does Payfactors cost?
Payfactors does not publicly disclose pricing information. Contact their sales team for a customized quote based on your specific compensation management needs.
Is Payfactors customer service good?
Payfactors receives positive feedback for its customer service. Users highlight the helpfulness and responsiveness of the support team, particularly during implementation and training. However, some users have reported inconsistent support experiences and slow response times for complex issues.
Reviewed by
Michal has worked at startups for many years and writes about topics relating to software selection and IT management. As a former consultant for Bain, a business advisory company, he also knows how to understand needs of any business and find solutions to its problems.
Tymon is a seasoned CTO who loves finding the perfect tools for any task. He recently headed up the tech department at Batmaid, a well-known Swiss company, where he managed about 60 software purchases, including CX, HR, Payroll, Marketing automation and various developer tools.