Unlocking Competitive Compensation: Workday Partners with Compa
In an era where attracting and retaining top talent is crucial, Workday, Inc. has partnered with Compa, a leading provider of software-delivered market data. This collaboration aims to integrate Compa’s real-time market intelligence directly into Workday’s platform, empowering organizations to make informed pay decisions.
Key Benefits of the Partnership:
- Real-Time Market Data: Compa’s integration replaces outdated annual compensation surveys, ensuring companies have access to the most current compensation data for competitive job offers.
- Enhanced Job Offers: HR and hiring managers can easily access relevant market intelligence during the job offer creation process, streamlining the hiring workflow and increasing the chances of securing top candidates.
- Internal Mobility Improvements: Organizations can align internal pay structures with market data, ensuring that promotions and job changes are competitive and motivating for current employees.
- Promotion of Pay Equity: By leveraging real-time compensation data, companies can ensure fair compensation practices from the start, fostering a more equitable workplace.
Cristina Goldt, General Manager of Workforce and Pay at Workday, emphasizes that “access to real-time compensation data can be a game-changer,” providing a strategic advantage in the competitive labor market. Charlie Franklin, CEO of Compa, echoes this sentiment, stating that the partnership will enable organizations to make better and faster pay decisions based on accurate data.
The collaboration between Workday and Compa marks a significant step towards modernizing how organizations approach compensation, ensuring they remain competitive in attracting and retaining the best talent available.
