LiveRem Launches NZ’s First Instant Salary Benchmarking Tool

LiveRem has launched New Zealand’s first real-time platform that automates salary benchmarking directly from payroll data across multiple industry niches, answering the questions ‘How much is this role really worth in the market?’; and ‘How much are people actually being paid in this role?’’ instantly, accurately and without the exorbitant price tag or lag inherent in traditional benchmarking tools.

“Salary is one of the biggest drivers when considering a career move and companies who get that wrong will not only fail to attract new talent; but more importantly, fail to retain the talent they already have,” believes Kathleen Webber, Co-Founder of LiveRem.

Salary benchmarking tools are big business and companies pay thousands of dollars to ensure what they’re paying their people is fair and attractive relative to competitor firms, but at best the data is only available 6-9 months after data collection meaning that by the time businesses have access to this intelligence, it’s already out of date.

“Kiwi companies have told us they were losing staff because they had no idea what was going on with the market; or that they had unintentional gaps in pay between staff who had remained with their company for several years and new starters,” comments Co-Founder of LiveRem Jonathan Morgan.

How it works…

LiveRem automatically maps role types and salaries on a company’s payroll system (in real time) against what these roles are being paid in the market (right now) and will automatically flag which roles are out of band based on the percentile a company wants to achieve. The system will also flag any inequalities, quickly identifying issues including gender pay gaps, for example.

With brands including AskNicely; PaySauce; Tradify and Animates already signed up, the comparative data has been built up quickly and will grow as additional companies sign up to use the tool.

“It’s like having someone on your team dedicated to conducting full, detailed salary benchmarking and analysis for every single pay cycle; except it’s automated and it costs a lot less than existing tools out there. What’s more, no-one has to fill in surveys or collate any data into complex reporting tools,” adds Kathleen.

Proven payroll innovation

LiveRem is Kathleen and Jonathan’s second innovative payroll data analysis offering, following the successful launch of holiday pay tool ResolvePay. With a passion for ‘solving problems using tech’, ResolvePay has resolved holiday pay remediation for over 50,000 New Zealanders. The company regularly beats the ‘Big Four’ accounting firms for contracts and are often brought in when other companies have failed or are unable to recalculate, including recalculations for ASX and NZX listed companies.

“We’re deeply entrenched in payroll challenges day-in and day-out, and having solved how hard it is to calculate holiday pay entitlement, we were ready to expand our remit,” says Jonathan.

As with ResolvePay, LiveRem’s pricing aims at ensuring accurate payroll analysis is affordable and is charged per organisation size, on a monthly or annual subscription basis.

This team already has its eye on expansion to Australia where payroll systems are similar, making it easy for Australian businesses to integrate LiveRem. It has also built the platform to accommodate multiple languages in anticipation of global growth across Singapore, Dubai and Europe.

About LiveRem

LiveRem is a leading edge real-time salary benchmarking platform that seamlessly integrates with payroll and HR systems, offering businesses precise and current insights on remuneration trends. Our platform stands out for its accurate & affordable real-time insights, providing superior value at a fraction of the cost compared to other options. Through advanced role matching, LiveRem delivers accurate benchmarks for various job roles across different industries. This automation ensures that companies can make informed decisions regarding remuneration efficiently, keeping them competitive in the dynamic job market. Furthermore, LiveRem acts as a powerful tool for attracting and retaining top talent, enhancing an organisation’s strategic planning and competitive positioning with access to the latest salary benchmarks.

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