Skip to main content
Monthly Archives

February 2020

ThinkWhy® launches LaborIQ ™ to bridge the gap between labor economics and compensation planning in a new era of work

By Labor economics No Comments

DALLAS – (COMMERCIAL THREAD) – ThinkWhy, a SaaS company helping businesses navigate a new era of work, launched LaborIQ, its flagship solution to help businesses better understand today’s workforce supply and demand. hui and to achieve a strategic advantage in the market. The historically low unemployment rate has forced the US economy into a skilled labor shortage, forcing businesses more than ever to consider various economic variables to stay competitive and plan for employment costs in 2020 and beyond. LaborIQ unlocks the meaning of US labor market data, offering insight into labor supply and demand. The product allows business leaders to search for positions by metro, learn how to structure base pay, and compare pay for specific roles and teams.

“We designed and built the LaborIQ platform to make labor market data – previously only decipherable by economists – accessible and affordable for all businesses,” said Claudine Zachara, co-founder, president and head of the operating ThinkWhy. “Our objective by creating LaborIQ and our company”Why, ‘is to deliver in-depth analysis to businesses of all sizes, providing HR and hiring managers with data and information to support strategic hiring and business decisions. The growth of a business depends on the talent it attracts and retains, and LaborIQ is an essential tool to help HR and hiring managers know exactly what salaries to offer and understand the main impacts on economic performance on the job. supply and demand for talent.

A new platform for a new era of work

The past decade has seen fundamental changes in the workplace, creating a new landscape for business and the job market. This new reality places even greater emphasis on attracting, retaining and rewarding talent, especially as HR and hiring managers face the headwinds of a labor shortage. qualified work. What has not changed are the labor market tools that companies use to optimize decision making. Businesses lack access to the essential information and context they need to gain a competitive advantage and achieve their growth goals.

ThinkWhy’s founding team, led by Zachara, Managing Director Ron Johnsey and CTO David Kramer, recognized the opportunity to demystify the challenges companies face when making business and business decisions based on disparate labor market data. They saw an opportunity to create a product linking economic planning and compensation planning through an intuitive platform that addresses the roles, skills and modern compensation models created by the evolution of technology and the way we do business. work.

Technologically complex but universally accessible

The deceptively simple and easy-to-use LaborIQ platform is a complex technical feat of engineering: extracting data from multiple databases, reformatting it, and analyzing it to help companies customize data based on their needs and find out “why this is important”. The platform is 100% serverless, making ThinkWhy one of the few companies in Texas that is completely free to quickly develop and deploy the latest technological advancements. The platform is designed for ease of use at all endpoints and its architecture allows for unlimited scalability.

“LaborIQ gives you a better understanding of the labor economy and the factors that impact compensation planning, and gives you the controls to personalize your analysis and disseminate information throughout your organization,” said David Kramer, CTO at ThinkWhy. “We’ve supported the complexity of dense data aggregation and analysis, so organizations can access actionable information through an intuitive platform. ”

LaborIQ’s flagship features and products include:

  • The only platform in the marketplace to connect US labor market analysis with workforce and compensation planning

  • Simplified and actionable economic information for your business on every page

  • Detailed data and reports for HR and hiring managers, as well as high-level economic job information for business leaders

  • Six-year forecasts and analyzes for each metropolitan area in the United States

  • Ability to create personalized compensation planning reports by job title, industry, metropolitan area, etc.

  • Forecast of supply, demand and compensation for more than 40,000 job titles based on historical national or metropolitan data

  • Customizable dashboards, unlimited downloads and white label reports

LaborIQ is currently available to all organizations operating in the United States. Visit ThinkWhy.com for more information and pricing.

About ThinkWhy®

ThinkWhy is helping businesses navigate a new era of work by creating modern, human-centric software that supports better work lives. The company’s first product, LaborIQ ™, helps employers understand metropolitan performance metrics, talent supply and demand, wages by occupation, and compares individuals and teams through an intuitive platform – with concrete responses to support the company’s strategic planning. Learn more about www.ThinkWhy.com or follow us on Twitter and Instagram at @ThinkWhy_ and on Facebook at @ThinkWhyLLC and LinkedIn at @ ThinkWhy-LLC.

Source link