LaborIQ offers a cloud‑based compensation platform that provides real‑time, role‑specific salary benchmarks and total‑compensation recommendations for over 20,000 U.S.
Funding
Funding not disclosed
Founders
Product
Problem
Organizations often lack timely, comprehensive compensation data and struggle to create consistent, equitable pay structures across roles, locations, and industries. This leads to inefficient salary decisions, potential pay inequities, and difficulty attracting and retaining talent.
Solution
LaborIQ delivers a cloud‑based compensation platform that combines extensive, real‑time market salary data with tools for total‑compensation benchmarking and pay band creation. The Salary Answers™ module generates role‑specific pay recommendations, incorporating localized cost‑of‑living and skill data for over 20,000 job titles. Pay Band Manager™ lets compensation teams define, customize, and share pay band ranges by level, department, and geography, streamlining approval workflows and reducing manual effort. Integrated analytics provide economic performance metrics and market trend forecasts, enabling HR leaders to make data‑driven compensation decisions quickly and maintain equity across the workforce.
Target Audience
Primary users are HR and compensation professionals, talent acquisition teams, and compensation consultants who need accurate market data and efficient pay band management for organizations of any size.
Features
- Real‑time salary benchmarks for any U.S. job, industry, and metro area, sourced from 18 trillion data points
- Total‑compensation recommendations that include base, bonus, and benefits components
- Pay Band Manager™ for rapid generation, customization, and approval of pay band structures
- Role‑level skill and responsibility mapping to improve accuracy of compensation estimates
- Market performance analytics and economic forecasts to inform budgeting and talent strategy
- API‑enabled HRIS integrations for automated employee data sync and reporting
- Secure, SOC‑2/3 compliant platform with encryption and role‑based access controls