With the rise of distributed work over the past three years and the increased cost of hiring top talent in tech-centers (like San Francisco, New York, and London), companies are expanding their employee bases globally. A recent study from Ernst & Young revealed that 90% of employers surveyed plan to maintain or increase their scope of international mobility within the next three years.
The benefits of building a global workforce are clear: US-based companies can find talented workers in new markets, keep their top talent engaged with international opportunities, and hire roles in lower-cost locations. But this only works if they know how to compensate these employees competitively, fairly, and within their budget.
There are many ways compensation leaders attempt to create global benchmarks – cost of living differentials, paying everyone top US market rates, and even purchasing separate comp surveys for each hiring location. However, these methods can get “creative”, expensive and leave too much room for mistakes. This results in rejected offers, attrition, or wasted money.
At Pave, we want you to have the data you need to pay every employee fairly and accurately, regardless of their location. That’s why we’re excited to introduce Global Location Insights. This premium data offering (available as an add-on to Pave’s benchmarking product and paid plans) gives you geo-differential data for over 45 countries and 75 global cities to help you confidently and competitively pay your global workforce.
Pave’s compensation dataset has now expanded to include benchmarks for every country you’re hiring in. Our data is real-time and gathered directly from employers, so you can trust that our benchmarks reflect how global markets are paying today. Pave built its dataset specifically for startups and technology companies, as well as the organizations they compete with most, to ensure that benchmarks are relevant. And, our package gives you full access to the global dataset – covering over 45 countries.
With Global Location Insights, you’ll get offers right (the first time), find cost-effective hiring locations, easily navigate compensation adjustments when employees move to new locations, and build a defensible international pay structure.
Localize bands for international employees
Fair compensation starts with clear compensation bands. Many compensation leaders have created bands for US employees and want to replicate this for international talent. However, they lack accurate and relevant benchmarking data.
Global Location Insights provides differentials that show the relative cost of labor between your company’s base location (for which you’ve already built band sets) and over 45 countries (with about 75 different cities worldwide). You can then apply those differentials to localize compensation bands for each region you’re hiring in. This ensures that you’re paying global employees in line with local labor costs.
Global Location Insights is my go-to when I need global compensation data. I can confidently localize compensation bands for almost 50 countries, ensuring fair and competitive global pay. It's the best solution for building and managing global pay structures! - Gerald Lou, Compensation Consultant at Lou Consulting
Build custom compensation tiers
Scale how you manage compensation bands across locations. Identify locations where compensation differentials are similar, and save them as customer tiers to reduce the burden of managing dozens of band sets.
Build credibility with candidates and employees
When making offers to candidates or adjusting current employee compensation, you need reliable data to back your decisions.
Global Location Insights helps you confidently put forth the best offer. Filter based on job family, level, company revenue, valuation, and more to ensure that you’re benchmarking based on your company’s stage and relevant peers.
The world of compensation is undergoing a transformative shift. With Global Location Insights, you're equipped to navigate this evolution with confidence and precision. As remote work continues and the search for top talent expands globally, the importance of fair and competitive compensation is more important than ever. Pave is committed to provide you with the tools you need to ensure that your employees, whether in your local office or on the other side of the world, are valued and paid appropriately.
We’d love to show you how it works. Request a demo today.
Global Location Insights is available as an add-on to our free benchmarking, Foundations, Pro, and Premium plans.