Bring global pay benchmarking data to life and get it working for HR.
PayLab is Innecto’s revolutionary pay benchmarking solution, which allows you to gain complete clarity around your current and aspirational pay stance.
Get underneath existing pay practices and their unintended consequences, and start making pay decisions that are responsible, fair and aligned to business strategy, and based on fact rather than assumptions.
Why choose PayLab?
Powerful & adaptable insights
Completely configurable to ensure it is reflective of organisation reporting structure, PayLab’s at-a-glance analytics, customisable dashboards and reporting suites enable you to track how pay is working for your business.
Within PayLab, you can look at market base pay and total cash stance, allowing you to understand your pay distribution, how pay and bonus is supporting your business and start to put your pay pot to good use.
PayLab's powerful reporting functionality allows you to create reports by department, gender, ethnicity and more, as well as understanding the implications of over- and under-paying. Get down to the granular detail and compare individuals against the market rates.
Seeing these insights also engages line managers and gives them confidence in decisions.
Saving HR time and effort
PayLab provides much more than just benchmarking roles; it analyses the effectiveness of your whole pay approach. Our agile system and methodology works with your business as it changes and evolves rather than against it.
PayLab provides a quick, intuitive and collaborative approach to benchmarking, allowing you to be in control and self-sufficient in managing and applying data to roles.
Making pay management simple
Within the tool, you can update your benchmarking by adding and removing roles as required, and adding your latest data, to keep the insights fresh and useful. You can also upload your pay ranges to enable effective pay management and compare year-on-year to track how pay is progressing against your pay strategy.
PayLab allows for multiple currencies, making it the ideal solution for multinational businesses or those aspiring to expand internationally.
Pinpoint your market pay position
By incorporating external insight that can have a direct impact on business decisions around hiring, retaining and engaging staff, you can ensure your pay pot is working as intended by reviewing where roles sit both internally and compared to the external market, and identify attrition risks.
With the powerful insights available in PayLab, you can ensure you are balancing the bottom line whilst attracting and retaining key employees, and leverage your compensation pot by identifying savings in future hires.
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