WALTHAM, Mass., Aug. 21, 2024 (GLOBE NEWSWIRE) -- Salary.com announced the immediate availability of its latest offering, SalaryIQ™. An AI-powered real-time job posting database, SalaryIQ delivers repeatable and reliable job market data for use in compensation and recruiting strategies, building on Salary.com’s quarter-century of expertise in job matching and taxonomy. With SalaryIQ, companies will be able to gain a competitive edge and enhance their offers with access to millions of online job postings that are AI-matched and modeled to Salary.com’s proprietary taxonomies.
SalaryIQ’s technology scans millions of data points from job boards, employment websites and public sources across the web, aligning them with Salary.com’s job taxonomy and data architecture. Machine learning algorithms enable predictive modeling with more than 30 key economic indicators in Salary.com’s proprietary AI Forecasting Model. SalaryIQ irons out inconsistencies in real-time job data to deliver an ongoing stream of actionable insights to end-users.
“SalaryIQ helps compensation professionals save time by getting real-time job market intelligence in one place,” said Christopher Knize, Vice President of Product Management. “SalaryIQ also helps HR leaders expand their data resources, giving them the ability to anticipate future trends and forecast headcount costs more effectively than ever before.”
With SalaryIQ, compensation and HR teams can augment their compensation strategies with real-time job posting data to enrich insights and enhance collaboration with talent acquisition and recruiting teams. By monitoring emerging trends in skills demand and compensation practices, companies can stay ahead of market changes and adapt their strategies on the fly by learning from trends. Leveraging workforce intelligence reports, they can forecast labor costs and optimize headcount planning and budgeting with accurate, data-driven insights. Using interactive dashboards, charts, maps, and reports, organizations can visualize and communicate labor market movements effectively, ensuring informed decision-making and efficient resource allocation across the board.
Paul Reiman, Founder and Managing Partner at Novo Insights shared, “Compensation professionals are always looking for data that helps them build and maintain competitive compensation programs. In recent years, new types of data, such as job posting data, have come to market that help compensation teams be better equipped to understand how markets are changing and how specific peers are attracting talent. SalaryIQ provides such insight, as users can perform targeted searches to answer questions not always answerable by traditional survey sources.”
“Job posting data has become increasingly popular among human resources, compensation, and talent acquisition professionals who require ‘on the spot’ data to make informed decisions on hiring and pay,” said CEO Kent Plunkett. “Making it possible to improve job-matching accuracy, uncover peer pay practices, predict staffing needs, and streamline processes, SalaryIQ delivers the competitive edge these teams need.”
For more information about SalaryIQ, visit https://www.salary.com/business/compensation-software/iq.
About Salary.com
Salary.com has been solving the complex human capital needs of global organizations for more than 20 years. The company leads the industry in compensation data, software and services. Over 30,000 organizations in 22 countries use Salary.com’s solutions to confidently hire and retain talent so they can better compete in a constantly changing landscape.
Salary.com provides more than 10 billion data points across more than 225 industries using our powerful, proprietary AI framework to get pay right. The company’s flagship product CompAnalyst® empowers organizations with a suite of tools that simplifies hiring, eliminates compensation guesswork, and increases retention. Employee trust depends on fair pay and Salary.com’s solutions get pay right. Please visit www.salary.com/business.
