Sycamore, Ill., Feb. 17, 2009 – KnowledgePay Inc. announced the release of its namesake enterprise compensation software. The KnowledgePay platform helps organizations increase return on compensation–their single largest investment–and optimize employee engagement.
KnowledgePay integrates in a single software environment a company’s many sources of compensation data—independent market surveys, internal job analyses, job descriptions, organizational relationships, demographics, and other information about jobs and pay. Compensation professionals can make better decisions because they have easy access to information and analytic tools.
“Up to 70 percent of an organization’s operating budget is spent on human capital,” said Chris Kelley, KnowledgePay founder and chief executive officer. “Yet, compensation information is scattered around the company in spreadsheets, word-processing documents, ad hoc databases, and even on paper. KnowledgePay makes that pain go away. It enables compensation professionals to analyze jobs consistently across their entire system and make optimal decisions.”
KnowledgePay enables organizations to increase HR productivity and enhance the business value HR delivers to senior management. Projects that once required weeks of effort can now be done in a fraction of the time. “KnowledgePay allows my team to focus on providing guidance on compensation instead of being buried in administration,” said Vasu Mirmira, director of compensation at Conseco Inc., a KnowledgePay client and user of the software prototype. “It streamlines our entire compensation process.”
Studies show that knowledge of salary increases employee engagement and job satisfaction. KnowledgePay helps HR provide more compensation data to line managers to motivate their staff. The same compensation information also provides tools to improve recruiting and retention.
KnowledgePay’s enterprise compensation software is delivered on demand via the Internet. “From the beginning, we made sure our architecture offers the highest level of security,” said Shannon Riley, KnowledgePay chief technology officer. “That’s key for our customers, and we are very customer-focused.”
About KnowledgePay
KnowledgePay,
http://www.knowledgepay.com, delivers enterprise HR software with a relentless focus on compensation intelligence. KnowledgePay’s innovative on-demand technologies help organizations and their people succeed by maximizing engagement, alignment, passion and productivity. KnowledgePay solutions integrate all sources of compensation and job data with groundbreaking analytic tools to drive HR productivity and business results.
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