For the last 25 years, the HR Compensation world has plodded along using salary surveys to compare their labor costs to the market. The data was old by the time it got to customers and often full of inaccuracies, as HR Comp professionals struggled to match their jobs to a list of generic jobs.
Revolutionizing the compensation technology world, People Ticker provides real time compensation data mapped directly to each company’s unique job library. This keeps their customers constantly up to date with the latest labor pricing for both salary and contigent workers, enabling them to effectively compete for talent at the right price which translates to savings.
“Technology is transforming everything that we do. It has disrupted many legacy businesses, so why not compensation,” said Joe Musacchio, CEO, PeopleTicker. “With PeopleTicker, we took advantage of data aggregation and advanced machine learning technologies to create a platform that radically changes the comp world. Imagine never having to worry about compensation again,” added Musacchio.
At first, the data is parsed using proprietary algorithms derived from machine learning and artificial intelligence technologies. Consequently, new rate information is created and validated through SkillsVillage— PeopleTicker’s sister company that consists of HR, procurement, talent managers, and recruiters from around the world. Once the data is verified, the PeopleTicker software is updated with the latest rate information and customers can see rate movement for each job in their library. Additionally, PeopleTicker also provides predictive analytics in the labor market by enabling a continuous stream of new data and validation to refresh rate information.
PeopleTicker provides real-time data rates and salary data to help clients know the true market condition for labor for any job, anywhere in the world
“As a technology innovator, I am proud of the advances that we have made at PeopleTicker,” said John Sculley, Chairman, PeopleTicker, former CEO of Apple Computer, and PepsiCo Inc.
Today’s labor market is changing too. Companies are increasingly growing their contingent labor population (over 30 percent of the current workforce) and had no where to find this compensation information. PeopleTicker is the only solution that solves this problem by offering both salary and contingent labor data globally. This is why we see them as one of the top HR companies to watch in 2017.
PeopleTicker spun off from a VMS/ MSP company in 2014 to become a data aggregator by expanding their sources. “Our customers wanted to know ‘how much’ they should be paying for different resources located throughout the US. The first iteration of our software used the data that we gathered from our VMS back in 2000,” says Musacchio. Gradually, the data set grew and today, their software has ingested over 100M data points from 1600 sources into two separate databases—salary and contingent labor. “We are always adding new data sources and new job titles. We are currently working on our seventh version of the software which includes many new features inspired by our users.”
Ambition and vision go hand in hand with People Ticker as it continually seeks to expand its global footprint. It aims to become the world’s largest repository of compensation information for all types of labor. Primarily, SkillsVillage, the community supporting PeopleTicker, helps to keep them updated with job rate validation, economic conditions, statutory changes in labor laws, and predictive analysis. “Our ’Villagers’ provide us with a ‘boots on the ground’ view of the labor market.” The company’s arsenal, consisting of nearly 250,000 job titles that are unique to 120 countries and regions, looks to grow continually. Exhibiting a great hunger for growth and expansion, PeopleTicker looks to be perched atop the HR technology sector.