The intention of this mutually beneficial partnership is to feed the demand for compensation software, data, professional services, strategy, and program optimization using the suite of PayScale’s products along with the expertise in strategy and design from Payformance Partners.
In our first year (2022) of this partnership being in place we generated $1,000,000 in additional revenue.
We work with a wide range of clients across many industries and all sizes (commercial, enterprise, and strategic). Our scope of work with these clients also carries a wide range of services.
Compensation program strategy built to support Business & HR Strategy
Yes, we do offer some similar services as the Payscale Professional Services team, but we mostly fulfill services that are outside of the scope of PayScale’s services team - for example, but not limited to Incentive Plan Design, Job Framework, International Compensation, Sales Compensation design, over-arching Compensation Program Strategy & Design, as well as additional bandwidth help for PayScale professional services.
There are numerous opportunities in which the partnership works and plenty of flexibility to implement new strategies.
Account Executives / Customer Success:
Current client: a current or potential client of Payscale needs over-arching compensation program design/strategy, plan optimization, and/or services. Customer Success Manager, Account Executive, or Professional Services team member contacts PfP
The warm handover: PfP discovers a need for compensation software with one of our clients. Introductions are made and the PayScale AE takes over to close the deal
Teamwork: PfP discovers a need for compensation software with one of our clients (or potential clients), brings in a PayScale AE to jointly close the deal, PayScale manages the software contract, PfP manages the services contract
Full engagement: PfP discovers a need for compensation software with one of our clients (or potential clients), contracts PayScale directly, manages the system for the client
Closing the deal: PayScale is engaged with a potential customer who needs assistance with compensation strategy and design
*Suggest a new way: both companies are open to explore creative ways to partner and grow. If you have a situation or need in which this partnership could benefit a customer, please feel free to raise it to a member of PayScale’s management.