The Living Wage Institute provides data-driven compensation tools that use a hyper‑local cost‑of‑living database for over 4,000 U.S. geographies. Its platform lets HR and total rewards teams benchmark hourly wages, diagnose pay health, and set precise wage targets that reflect local housing, transportation, healthcare and other essential costs, helping large hourly employers improve retention and manage labor costs.
Funding
Funding not disclosed
Founders
Product
Problem
Employers of hourly workers often lack precise, location-specific data on the true cost of living, leading to wage settings that are either uncompetitive or unsustainable. This results in high turnover, difficulty attracting talent, and compliance risks for businesses operating across diverse geographies.
Solution
The Living Wage Institute offers a suite of compensation tools that leverage a proprietary, hyper‑local database covering over 4,000 U.S. geographies and 12 worker profiles. The Wage Index provides granular benchmarks of hourly wage competitiveness, while Wage Pulse delivers a comprehensive health assessment of an organization’s hourly pay across roles and locations. Wage Target enables employers to set cost‑effective hourly wage targets that incorporate the full value of benefits and total rewards. By grounding compensation decisions in real‑world housing, transportation, healthcare, and other essential costs, the platform helps businesses align pay with local living standards, improve retention, and stay ahead of market trends.
Target Audience
Primary customers are compensation, HR, and total rewards teams at companies that employ large hourly workforces across multiple regions, such as retail, hospitality, healthcare, and logistics providers.
Features
- Wage Index: county‑level living cost data modeled on eight essential expense categories, updated annually for 4,000+ geographies
- Wage Pulse: diagnostic dashboard that highlights competitive advantages and hidden compensation risks across locations, roles, and workforce segments
- Wage Target: custom modeling tool that translates total rewards into precise hourly wage targets, accounting for benefits and taxes
- API access for integration with HRIS and payroll systems, enabling automated wage benchmarking and reporting
- Scenario planning capabilities to evaluate the impact of wage adjustments on labor costs and turnover rates
- Data visualizations and exportable reports for stakeholders, including HR, finance, and senior leadership