Speakers: Susan Thomas, CEO, 10FOLD
Susan Thomas: When I found LaborIQ I could finally hang up my compensation analyst tools for good. I was no longer searching through myriads of tools and trying to understand different economic growth rates in particular regions. economic growth rates in particular regions. I could just do a quick search in LaborIQ I could just do a quick search in LaborIQ I could just do a quick search in LaborIQ and find an answer almost instantly.
Tell us how you're using LaborIQ and the problems its helping you solve.
Susan Thomas: We use LaborIQ We use LaborIQ weekly, if not daily. weekly, if not daily. Last quarter alone, we hired 13 new staff members and getting those compensation packages right was incredibly important given how competitive PR Agency markets are right now. competitive PR Agency markets are right now. There are over 50,000 agencies in the market There are over 50,000 agencies in the market and we're trying to make sure that our offerings are extremely competitive. In addition to that, we do reviews of performance every six months. And we want to make sure the way that we're acknowledging people's contributions is competitive as well. It's so nice to be able to show them data from LaborIQ to ensure then not only are they making at least market rates, but in some cases they're making slightly higher than market rates based on their contributions.
What impact has LaborIQ had on your business?
Susan Thomas: I'm not only competing with the big guys, but I'm also competing with small agencies that can basically decide to pay whatever they want on a whim. So having accurate information about what's going on, not just by the salary, by the level of the person, but also by their geography and also by the size of agency they happen to be working in was a godsend.
Susan Thomas: and find an answer almost instantly. This has saved me likely 20-25 hours a quarter. And it's also probably saved me a lot of personnel from leaving.
Susan Thomas: LaborIQ has certainly not only saved us money, LaborIQ has certainly not only saved us money, LaborIQ has certainly not only saved us money, LaborIQ has certainly not only saved us money, but it's made me a happier CEO.
Would you recommend LaborIQ to your peers?
Susan Thomas: I am constantly recommending LaborIQ I am constantly recommending LaborIQ I am constantly recommending LaborIQ to almost anyone I talk to that runs a business. And the reason is because there's just no better, accurate information out there. So many people are relying on data that's self reported and it's wholly inaccurate.
Susan Thomas: I have probably recommended LaborIQ I have probably recommended LaborIQ over 100 times already. And I know many people have taken me up on that recommendation, which is only going to be a good thing. And I hope all of my competitors use LaborIQ And I hope all of my competitors use LaborIQ And I hope all of my competitors use LaborIQ because the industry will get a lot easier to navigate once that happens.
