Payfactors Reviews & Product Details

We have been using Payfactors at my new organization since I started in July 2024. I have used other market data provider platforms in the past and Payfactors has been infinitely easier to learn on the fly. I have been able to pick up the implementation of the platform for our compensation team easily in my time and we have been able to easily identify where we can use the system more effectively as we grow. It has been a huge help as we have started to grow and expand into new markets. As time has gone on, I have been become more and more reliant on what I am able to do in Payfactors and my frequency of use has continued to increase. Review collected by and hosted on G2.com.

As we have been growing in new markets, I wish there was a better way to compare market data from different pay markets. For example, I wish I could more easily compare what a Finance Director might price at in Baltimore vs Minneapolis all on the same screen in Quick Price. Being able to support the business with quick snapshots like this would be helpful. I also wish I was able to choose multiple locations for my pay markets. If I consider three of my locations to all price similarly for our industry (for example: Minneapolis, Mille Lacs, and North Dakota), I would like to be able to create a pay market that gathers data from all those places in one data set. Review collected by and hosted on G2.com.

I have found Payfactors to be very helpful, especially since I am a compensation "team" of one. The information that the software provides is easy to use and the data is easy to analyze. I feel confident that I can make informed pay decisions for my company when using this product. When I have needed help with the system, customer care has been prompt and thorough. Review collected by and hosted on G2.com.

Due to a lack of fiscal resources, my company is unable to implement some of the higher tier features of Payfactors such as HRIS integration and pay structures. Manually updating the system and administering our company data is time consuming and complex. Review collected by and hosted on G2.com.

Payfactors had allowed us more transparency into compensation data. We enjoy having multiple data cuts with options to personalize pricing to fit our job descriptions. Review collected by and hosted on G2.com.

The pricing project concept and publishing the jobs has been confusing for us. Sometimes it feels like we have a hard time finding matchings for the jobs we have. It just seems like there should be more options. We don't keep job descriptions in our HRIS right so maybe that would help since payfactors is only going off the job title.

We have the comp planning module as well and that is not going well. Many features we had with teams has now gone away - we can destribute the budget evenly between divisions. We can't destribute money based on the suggested increase matrix and have it respect our overall budget. We can't upload job information ourselves. I have to always put in a ticket if the job information changes. It's hard to make any changes to the cycle itself. It's really buggy. Review collected by and hosted on G2.com.

I love the HRMA and Peer Data that we get with Payfactors. I also appreciate how easy it is to add multiple surveys at once and even price multiple jobs at once. Having the ability to working a "sandbox" environment in pricing projects gives me peace of mind that I can try different options and play around with it a little bit without making edits to the published pricing until I am ready to do so. Review collected by and hosted on G2.com.

This is nitpicky, but the thing I like least about Payfactors is when you hover over a role to read the job description, sometimes it is hard to move the mouse over the description to scroll. Happy to chat about this more if this does not make sense so I can show someone what I mean. Seems like it would be an easy fix and save me some frustration. Review collected by and hosted on G2.com.

I like the ease with which you can create jobs/projects. There is usually a lot of usable data, and for roles that there is less data, being able to combine available roles is helpful. We use Payfactors to price all of our jobs, so we get a lot of use out of the program. I like how easy it is to update pay data to the current month/year. Review collected by and hosted on G2.com.

I wish there was more integration with our HRIS. We are able to have EE data feed betwen the two, but I would love if job and pay data could also flow between them. Review collected by and hosted on G2.com.

As a compensation professional, Payfactors has really helped to streamline or processes. When compiling data, we are able to generate reports directly from the Payfactors system. Because of this, we can respond to requests more quickly. Review collected by and hosted on G2.com.

Some of the recent enhancements to the Payfactors system have been geared towards allowing users to have more control of their survey data. Updated reports have allowed us to create and download reports according to the templates for the surveys we participate in. Initially, we disliked this feature, as previously we had been able to submit a request and Payfactors would populate the completed templates for us, however, the additional help and support provided was excellent! There were webinars, the customer support team followed up on emails with questions, and we were able to request time with one of their team members to walk through our process together. Review collected by and hosted on G2.com.

Unlike prior software that put all the work on the customer, Payfactors has dedicated support to make sure the market data is uploaded, aggregated and modeled to our specifications. Pricing jobs is easy and intuitive, the addition of peer data provides a valuable secondary source of data to supplement the surveys we purchase, and their location differentials have been helpful as well.

Beyond the basics, there are all sorts of analytics, customer resources, trend surveys and learning opportunities. We've used them for almost five years and still haven't seen everything. Review collected by and hosted on G2.com.

My only minor complaint is that it's not easy to browse survey job categories without having a specific pricing project in mind. Sometimes you just want to see what kind of categories are available. Review collected by and hosted on G2.com.

The detailed compensation benchmarking and ability to customize data sets make Payfactors stand out. The platform provides reliable market insights that simplify pay equity and decision-making. Customer support is fantastic and we use this tool frequently and its simple to use. Review collected by and hosted on G2.com.

The interface can feel outdated, and some processes are not as intuitive as they could be, requiring additional training for new users. Integration with other HR systems could also be improved for better workflow automation. Implementation can be a bit lengthy depending on how easy and fast you can access your own data. Review collected by and hosted on G2.com.

I love the real time data we get on like companies to ours in the marketplace. It makes pay discussions with managers and employees easier when they can compare their wage with others and compare benefits as well. Implentation was great as well. The trainers at Payfactor walk you through everything you need to know to use the product right away. We had a very tight deadline to start and they got us up and running in no time. Thank you to that team! Review collected by and hosted on G2.com.

So far there is nothing I dont really like. Review collected by and hosted on G2.com.

This year our team started fully using more capibilities in Payfactors. We used the pay structures tool to update all of our structures instead of doing it manually offline. This was a big improvement for this year. We have also appreciated the help we have gotten to update our employee data and survey data so that going forward we can do this easier and a lot less offline manually. The time savings has really helped our team out. Review collected by and hosted on G2.com.

I would like to see some more live trainings or one on one with newer products and enhancements. Review collected by and hosted on G2.com.