Keeping track of the salaries of more than a few people is hectic and there's usually no dedicated person to handle it for you.
Even though the history and the detailed records are always available somewhere deep within your payroll or accounting software, it probably wouldn't be an easy process to retrieve them.
On top of that, in a market that constantly changes, it's hard to decide what's the right amount to pay your team and whether or not the salaries you're paying are still relevant.
Paywell helps you to address just that.
70% of businesses with 5 to 49 employees don't have a dedicated HR role. - ADP's Ad Hoc Human Resource Management Study
How does Paywell help?
One Place Specially Built To Track Salaries
Paywell helps you keep a list of all of your team members together with their positions and salaries. As you make changes to those details, we keep historical records so that you can always refer back and see each person's progression.
Relevant Insights To Make Better Decisions
When you're reviewing someone on your team, we'll furnish you with insights like the inflation rate in your country and the regional market rate for the position you're evaluating so that you can make better decisions.
Building The Habit Of Evaluation
Instead of doing all this for once and forgetting all about your team right after, Paywell comes with automatic reminders baked inside. You can setup reminders to be sent to your email at your preferred frequency so that you don't miss out your next evaluation milestone.
"Minimal wage growth" is one of the top three reasons that workers in Europe, Asia and North America cite for leaving their jobs. - Gallup
But really, why pay well?
Hiring New People Is Expensive
The process of finding someone new costs a bomb. You'll go through lots of hellish candidates and you always risk getting someone that doesn't even fit. Once you find that very right person, it often takes months before that someone reach the expected level of productivity you hired them for.
Your Current Team Is Often Super Valuable
Your existing team on the other hand, has been working with you for years, they've been loyal to your business and are already best fits for the jobs they do. It's usually a big loss every time someone who's been with you for a few years leaves your team.
Yet You Pay Your Current Staff Less Than Your New Hires
With all that, if you have been in the business long enough, you'd know that every time you hire someone new you'll likely end up paying the new person more than your current team.
Isn't That Crazy?
We've built Paywell to help you keep better track of the salaries of your team, so that everyone is paid well and job hopping isn't rewarded over loyalty.
A trillion dollars. That's what U.S. businesses are losing every year due to voluntary
Though the average annual raise in 2014 for U.S. employees was 3%, Forbes estimated that the average boost in pay received by workers who leave a company for a new position is 10% to 20%. - Gallup
How much does this all cost?
ZERO. The current version of Paywell is entirely FREE. No credit cards required.
If you like the idea behind Paywell, you can best support us by using it and letting us know your feedback!Start Setting Up Your Team