PayStandards provides an AI-driven platform that automates compensation analysis and decision-making for HR teams. Its PayAudit™ solution ensures year‑end pay decisions are compliant, consistent, and data‑backed, while PayAgent™ offers a year‑round digital compensation expert for ongoing adjustments. The platform integrates with existing HR systems, maintains SOC 2 Type II security standards, and delivers real‑time insights to optimize payroll expenses.
Funding
Funding not disclosed
Founders
Product
Problem
Many organizations struggle to ensure fair and transparent compensation practices, leading to pay gaps, legal risks, and reputational damage. Traditional compensation approaches often lack the data-driven insights needed to make equitable pay decisions based on performance. This can result in employee dissatisfaction, reduced engagement, and difficulty in attracting and retaining top talent.
Solution
PayStandards offers a data-driven platform that leverages a proprietary pay algorithm and real-time analytics to provide organizations with pay recommendations based on employee performance. The platform helps companies identify and address pay inequities, reduce pay gaps, and promote pay transparency. By focusing on performance as a key driver of compensation, PayStandards enables organizations to make better pay decisions, elevate employee performance, and minimize legal and reputational risks associated with compensation practices. The system provides actionable insights to optimize pay decisions and ensure compliance.
Target Audience
PayStandards is designed for Total Rewards professionals, compensation managers, and HR leaders in organizations of all sizes seeking to improve pay equity, transparency, and compliance.
Features
- Market-leading pay algorithm based on compensation research and experience.
- Real-time analytics providing data-driven insights for pay decisions.
- Identification and remediation of pay gaps to promote pay equity.
- Performance-based pay recommendations to drive employee engagement.
- Scenario planning and simulation tools to model the impact of pay adjustments.
- Integration with existing HRIS systems for seamless data exchange.
- SOC 2 Type II compliance to ensure data security and privacy.
- Customizable reporting dashboards to track key compensation metrics.