How JobTeaser Used Figures to Achieve their Hiring Goals
Number of Employees: 290+
JobTeaser is a Career Center Software and Recruitment Agency that helps connect young talent and recent graduates with hiring companies.
# The Challenge
With investment funding of €3 million in 2015, €15 million in 2017, and a whopping €50 million in 2019, JobTeaser has experienced nothing but exponential growth over the past 7 years. To support its expansion, JobTeaser needed to be constantly building up the team. In a fairly short time, they had to triple their team, from 100 employees to the nearly 300 employees they are today.
Winning over good talent was no easy task for JobTeaser in a highly competitive hiring environment. JobTeaser wanted to provide advantageous salaries at market price. To do this, they needed precise, reliable data. However, they were having a hard time finding compensation benchmarking data specifically for Paris.
Not only did they want reliable benchmark data, they also needed a way to easily structure their internal salary structure. Making compensation decisions for each new hire was stressful and time-consuming. To make the decision-making process more fluid, they wanted to clearly define hierarchy levels and responsibilities to be able to easily align them with the best salary.
This is when JobTeaser met Figures.
# The Objectives
JobTeaser put Figures in place to get reliable, easy-to-use compensation benchmarking data. In launching a project with Figures, JobTeaser hoped to achieve the following results:
Set fair, strategic salaries to achieve their hiring goals
Reduce the time spent setting and structuring salaries
Create a positive company culture of fairness, openness, and transparency
# The Strategy
JobTeaser used Figures to put the following strategies in place:
Rely on a well-established structure to base their seniority levels and salaries Instead of making a “best guess” when setting a salary, JobTeaser uses Figures’ recognized model to categorize their posts into six levels. Each level is clearly defined and in this way, JobTeaser quickly identifies its hiring level and offers appropriate compensation.
Access high-quality benchmarking data The quality and precision of data Figures provided for JobTeaser goes unmatched. With Figures, JobTeaser searches from a pool of 23,000+ start-ups and scale-ups employee salaries. They were able to compare between 5 and 500+ wages in the same area for any given position.
Compare what is comparable Many variables go into deciding a salary. JobTeaser uses Figures’ filters to specify exactly what profile they would like to compare. Thus, they can benchmark companies similar to theirs with the following filters:
Position Seniority level Location Industry Company Size and many more
So, for example, when they were looking for a new Data Scientist, they were able to benchmark compensation for a Data Scientist in the Internet industry in Paris with an intermediate level of experience.
Easily use data in compensation conversations After salaries were benchmarked, JobTeaser easily downloads the information in a well-formatted PDF to share with employees and future hires. This greatly facilitates negotiations and compensation conversations because they can show employees that they are being paid fairly and above the market.
# The Results
Thanks to Figures, JobTeaser was able to achieve the following results:
Increased attractiveness for new talent With precise, updated compensation benchmarking data, they were able to make strategic offers to find better talent and improve their overall business.
More time to focus on people Instead of spending so much time looking for benchmarking data on different websites, JobTeaser has instant, reliable data from Figures. Now their HR team has more time to focus on what really matters, their people.
Increased transparency and trust With over 60 users on the Figures’ Platform, JobTeaser opens up benchmarking data to their employees. In this way, they cultivate a basis of trust and transparency.
Before Figures, we had no structured, strategic HR plan, and now with Figures, we do.