Ubiquitiy Retirement+Savings uses PayScale to enable strategic career pathing and eliminate arbitrary cost-of-living increases.
In 2017, Meadows and his team began developing a new compensation framework. First, the team eliminated the use of arbitrary cost-of-living increases. Instead, employees would be expected to earn increases in one of three ways: by taking additional training, adopting more responsibility, or getting promoted. “We wanted employees to feel that compensation is earned, not granted,” said Meadows. “We didn’t want them simply waiting for an increase.”
Simultaneously, the team implemented PayScale’s Insight Essential, the cloud-based compensation tool designed to enable data-driven, transparent compensation management. “We selected PayScale over other vendors for several reasons,” said Meadows. “It’s easy to use and there’s a lot of information on where the data comes from. PayScale also offers a fantastic level of support. We feel like we have a partner in compensation, with a level of service that we haven’t found with other technology providers.”