The first-of-its-kind HR software solution allows users to rapidly establish and easily manage pay bands for any job across all U.S. markets
DALLAS, TEXAS / ACCESS Newswire / April 10, 2025 / On the heels of its new website and Total Compensation feature releases, LaborIQ, an HRTech software firm based in Dallas, Texas, has launched Pay Band Manager.
LaborIQ compensation benchmarking software
LaborIQ's newest product release, Pay Band Manager, was launched following two years of research and development. The software addresses HR teams' fundamental and emerging need to easily create and manage pay structures, regardless of business size or maturity.
HR teams have faced a series of evolving challenges that put pressure on compensation - hybrid work and location-based pay, the expansion of pay transparency laws to dozens of U.S. states, and shifting expectations from employees and job seekers regarding pay fairness. Research has shown that a systematized approach to pay band management fosters efficient hiring and improved retention, providing company leaders with more predictable personnel costs.
The new Pay Band Manager solution, developed with input from dozens of HR professionals, replaces manual spreadsheets kept siloed across organizations and approval processes that are time-consuming with no historical tracking. Now, users can rapidly create pay bands with specific job requirements and receive current market pay recommendations.
"This is an exciting advancement for HR professionals, and LaborIQ is confident with the responses we have received from users that Pay Band Manager solves a major pain point," stated Claudine Cuinn, LaborIQ's chief executive officer. She added, "Users now have operating visibility and reporting capabilities which were previously not accessible for small and medium-sized organizations."
Other innovative features on the LaborIQ platform provide current-market salary benchmarking data backed by proprietary data science and engineering, allowing organizations to rapidly analyze data for location-specific job titles across the U.S. Market-driven wage answers are based on more than 18 trillion data points validated against 8.6 million pay stubs from more than 400,000 U.S. companies.
"Today's labor market is highly competitive, and the compensation landscape is constantly changing," stated Mallory Vachon, LaborIQ's chief economist. "Data and insights that give HR and recruiting professionals current, market-driven answers are integral to company success, aligning with our company's mission to bring confidence to every compensation decision."
About LaborIQ
LaborIQ is a leader in human resources technology, providing modern compensation solutions to advance personnel pay strategies and company operations. LaborIQ salary data increases efficiency and confidence for recruiters, HR professionals, and HR consulting teams tasked with setting and managing compensation strategies. Please visit www.laboriq.co.
Contact Information
LaborIQ Media Relations
media@laboriq.co
(972) 961-4400
SOURCE: LaborIQ
