LaborIQ
Data-driven talent acquisition solutions for today's hiring.
Executive Summary
LaborIQ by ThinkWhy is a talent intelligence software designed to optimize compensation management by providing accurate, market-driven salary data and forecasts for over 20,000 jobs across all U.S. cities and industries. It helps organizations automate processes such as salary planning, bonus allocations, and equity distributions. The platform leverages advanced AI technology, including its proprietary ATILA™ Technology, which analyzes trillions of data points and validates them against millions of U.S. paystubs. This ensures precise salary recommendations, talent supply insights, and future labor market forecasts. LaborIQ is ideally suited for medium to large enterprises in sectors like technology, finance, and healthcare. It offers real-time analytics, customizable reporting tools, and seamless integration capabilities with existing HR systems, empowering HR professionals and recruiters to make informed decisions for attracting and retaining top talent.
Use Cases
- Compensation Benchmarking: Provides precise salary data across various industries and job titles for accurate market comparisons.
- Predictive Analytics: Utilizes advanced algorithms to forecast compensation trends, helping businesses stay ahead of market changes.
- Strategic Workforce Planning: Aids in forecasting compensation trends and planning for future workforce needs and budgets.
- Talent Acquisition & Retention: Enables the creation of competitive compensation packages to attract and retain high-caliber candidates.
- Pay Band Management: Streamlines personnel compensation structure operations and job requisition processes.
Features
Visibility
- Customizable Reports: Offers the ability to generate tailored reports that meet specific organizational needs, enhancing decision-making processes.
- Job Market Analysis: Delivers insights into job market dynamics, including demand and supply metrics for different roles.
- Geographic Salary Differentials: Analyzes salary variations across different locations, enabling companies to adjust compensation strategies accordingly.
- Pay Analysis: Benchmarks team pay and creates visibility into pay distributions.
- Market Performance: Understands regional trends to support talent and sourcing strategies.
Intelligence
- Compensation Benchmarking: Provides precise salary data across various industries and job titles, allowing for accurate market comparisons.
- Predictive Analytics: Utilizes advanced algorithms to forecast compensation trends, helping businesses stay ahead of market changes.
- Talent Supply and Demand Data: Provides detailed information on the availability of talent in specific regions, aiding in strategic workforce planning.
- Salary Answers™: Provides total compensation recommendations for every job in the U.S.
- Pay Band Manager™: Streamlines personnel compensation structure operations and job requisition processes.
Support
- Dedicated Client Success Manager: A dedicated Client Success Manager is assigned to every customer for onboarding and ongoing support.
- Documentation: Training resources include comprehensive documentation.
- Live Online Training: Offers live online training sessions.
- Webinars: Provides webinars as a training resource.
- In Person Training: Offers in-person training options.
Technical Specifications
- Architecture
- LaborIQ is built on a 100 percent server-less platform with an architecture designed for unlimited scale. It aggregates and analyzes data from multiple databases to provide actionable insights.
- Deployment
- SaaS
AI/ML Stack
- AI-driven labor market solutions
- Advanced AI technology
- Proprietary, intelligent machine learning algorithm
- Proprietary ATILA™ Technology
Security & Compliance
Certifications: SOC 2, SOC 3
Encryption: LaborIQ uses encryption to protect certain confidential information transmitted online and employs safeguards to protect information offline.
Pricing
- Model
- Per User, Monthly, Quote-Based Subscription
- Starting Price
- Contact sales
- Target Customer
- SMB,Mid-Market,Enterprise
- Contract Type
- Annual (12, 24, or 36 months)
- Free Trial
- No
About ThinkWhy
ThinkWhy is a Dallas-based SaaS company that provides labor market analytics and compensation software, helping businesses navigate the labor market and make data-driven decisions on talent acquisition and retention.