PR: Paylab offers salary reports for investors for jobs in the Central and Eastern Europe (CEE) region
The Paylab.com international salary portal launched a website offering downloads of regularly updated salary reports for jobs in Central and Eastern Europe. The portal uses machine learning technology built on an original statistical model to calculate salaries. Companies are only a few clicks away from detailed information on remuneration for specific jobs across a range of countries in Central Europe, the Balkans and the Baltics. Paylab has brought a solution to market for companies who need current salary data on demand. It is common practice for foreign entities planning their business activities in this region to buy salary reports.
The website provides companies with quick and convenient access to information as to how much production operators and programmers, for instance, earn in a given country in the region. Every report contains a detailed description on how salaries change for individual jobs depending on education, experience and location and what financial and non-financial benefits an employee has in the given country.
A major advantage of this service is the accessible pricing of the salary reports thanks to the automation of the entire process of data collection, data analysis and report generation through artificial intelligence algorithms developed in Profesia. The price of one salary report for a specific job and country is €99 excluding VAT.
Paylab only offers those reports where a sufficiently large sample size is used for computational purposes. The website is transparent and shows companies how the sample of salaries is obtained from market research and then used in the salary report for the specific job.
Companies typically consider the following as examples in the region:
Expansion of manufacturing activities or operations
Opening support centres and outsourcing
Recruitment to fill specialised jobs
Making investments and business development
Operations in a specific catchment area
Salary reports are most often used as a reference material for:
Go-to market analysis
HR consulting and hiring
A team of developers and analysts stands behind the Paylab.com online service. Salary data is collected daily. The entire process undergoes a rigorous mechanised control and therefore not all data from the market research enters the relevant sample via the three-stage screening process. The final calculation involves a machine learning algorithm built on a regression statistical model.
Data is collected continuously through market research and sourced directly from employees via localised salary comparators, which give those on the job market a unique and popular way to compare their salaries with their peers in the same field. Standard users find the salary comparator easy to use and on a localised website, in their local language, in their local currency and adapted to their local customs. Employees at a variety of levels, from auxiliary staff to specialists and even managerial positions, may compare their salaries.
Salary data collection is adapted to the local customs in the given countries, such as if gross or net salaries are typically discussed in the country.
Behind the development of the Paylab product is Profesia, the technological leader in Slovakia in online solutions, which also operates job portals in Slovakia, the Czech Republic and Hungary. In addition, the company helps job portals in other countries get off the ground and run salary websites and build salary databases. Profesia is part of the Finnish media group Alma Media.