We call it PayMentor, our MS Excel-based tool that helps define salary ranges for your company. It works like any HRMS compensation module – only standalone. At its core are equations developed using the Point Method of Job Evaluation. Download the free overview to learn more.
What does it do?
It helps you build a fair and competitive compensation structure for your company by defining salary ranges. You do not need to commission expensive salary surveys or buy survey reports. Use the salary data you have for your jobs – from interviews, existing employees and the interb=net (sites like Naukri, Payscale, Glassdoor etc), input the values into the spreadsheet and let Paymentor do its job!
Who benefits the most?
This tool is for anyone responsible for salary determination in a company; also, those keen to learn pay structure design.
If you have intermediate or basic knowledge of compensation fundamentals, you can get started right away. If you are a beginner, we are here to help — Write us at reachus@webchro.com
How is this beneficial?
Taking Charge: It is critical that you have rational explanations for why you pay your people a specific salary, and PayMentor’s ranges do just that. Data Privacy: The tool is standalone. It does not upload your compensation data to an external network or server; it stays safe with you. Cost Friendly: Not a significant investment and no recurring expenses. Buy once, use forever. Skill Builder: Opportunity to learn by trial and error. Keep calibrating the factors until you get a satisfactory output. Hassle-Free: Use it as a personal decision-making aid. Needn’t worry if it ‘talks’ to other systems.
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