Product and Services Guide
The Subscription and Professional Services described in this Product and Services Guide are subject to the applicable Order between Customer and Payfactors and the payment of all applicable fees.
Payfactors Market Data
The Payfactors Market Data is an on-line service that permits Users to market price jobs scoped by industry, geography and company size via Payfactors professional-grade compensation database. Payfactors currently has Market Data available for the following countries:
- United States
- United Kingdom
Payfactors Data Plus
Payfactors Data Plus is an on-line tool that permits Users to: (1) build, edit and maintain salary structures and grades and manage and slot Customer’s jobs and incumbents within structures and grades; and (2) to perform competitive analysis between the market data and Customers’ internal pay practices. Includes access to Peer.
With Payfactors Data Plus, Customer can choose either an automated or manual data load:
- Automated Data Load – One-time set-up and part of standard implementation. Automatic refresh of organizational data on a monthly basis via encrypted file transfer or HRIS integration. Keeps client data current and helps with identifying predictive insights and trends. No additional cost, included with subscription.
- Manual Data Load – Manual monthly or quarterly refresh of organizational data by client with support from the Payfactors professional services team. Customer provides formatted organizational data file, manually transfers to secure FTP Payfactors site, Payfactors professional services team manually loads Customer file into Customer’s account. Cost: $2,500 per year (includes 12 monthly data refreshes).
Payfactors Premium Survey Management
Payfactors Survey Management is an on-line tool which permits Users to build customized market-pricing composites using third party survey data, input company data for survey participation purposes, and analyze Customer’s uploaded payroll data against other market-price sets. Additionally, Payfactors helps our clients participate in their annual survey participation process. Payfactors will gather the submission templates provided by your survey vendors and populate them on your behalf. Additionally, Payfactors will load all new survey data upon receipt. As an extension of our service, Payfactors will also roll your market pricing data year-over-year to encompass the new survey data.
Payfactors Job Description Management
Payfactors Job Description Management is an on-line tool which provides organizations with an online central repository to store and manage job descriptions. Job description templates allow organizations to standardize job descriptions. Users can access a library of over 2000+ robust job descriptions to use as a starting point.
Payfactors Peer is an on-line service that provides Customers with the ability to exchange data in an aggregated and anonymized format following DOJ guidelines with select groups of the Customer’s specific chosen geographic or industry peer employers – or any other groups that would logically have a set of jobs in common. Payfactors Peer provides Customers with access to detailed, real-time compensation and related data.
Total Rewards give Customers the ability to generate statements providing employees a full picture of their pay and benefits package. The Customer can import employee data fields from their Payfactors database and choose print or electronic delivery.
Benchmarking & Market Pricing
Payfactors Compensation Team will align Customer’s jobs to the benchmarks in both Payfactors Market Data and, if applicable, the Customer’s third-party Survey titles that have been uploaded into the Payfactors system, to determine appropriate market reference points based on a discussion of Customers’ compensation philosophy and relevant labor market.
Salary Structure Development
Payfactors Compensation Team will develop one or more pay structures to meet the needs of Customers’ organization and reflect current market rates. In order to provide these Professional Services, Customer’s is required to have all or most of Customer’s jobs accurate and up-to-date market pricings already loaded into the Payfactors system.
Additional Professional Services
The Payfactors Compensation Team will conduct specific consulting services (e.g., pay equity review; incentive plan benchmarking; overall compensation analysis, etc.) as outlined in a separate Statement of Work (“SOW”).
Payfactors supports Single Sign On (SSO) using SAML 2.0 compatible Identity Providers. SSO requires implementation and testing to ensure proper configuration.
Disclaimer: Payfactors reserves the right, at its discretion, to change the Products and Services Guide and the policies within it, at any time, based on prevailing market practices and the evolution of our products. Changes will not result in a reduction in the level of services provided during the period for which fees for Customer’s applicable services have been paid.