Professional Services Firm PRM Transforms Its Survey Process
PRM is a professional services firm specializing in providing a full range of human resources and general management consulting services. Their client base includes not-for-profit, higher education, and public sector organizations, along with general industry companies who believe that people are the ultimate drivers of organizational success.
PRM needed to optimize their survey process so that they could turn survey requests around more efficiently and provide a higher level of data quality to their clients and survey subscribers. Although they currently provided high quality data in a meaningful manner for their clients, they needed to better automate the process and provide more flexibility for client reports and other projects. The survey process for PRM, as with most comprehensive surveys, is a long and arduous process. It can take from 3-6 months to collect the data and 1-2 months to analyze it. Initially the data can be very unfriendly and doesn’t allow you to easily look at it in different ways without re-doing it when using a manual process. In addition, to really do this properly you need internal data analysis expertise. If you count all of the hours that people spend, and the expense of the internal expertise, it’s a very expensive and time-consuming process if you want to deliver high quality data as PRM does.
“PRM consultants have served many of our clients for decades and more than 90% of our firm’s work results from projects and services from repeat clients”, explained Lyn McCloskey, a Principal in PRM’s compensation consulting practice. “ However, we are always striving to improve our services, and the PeriscopeIQ solutions will allow us to be more responsive and provide a higher level of quality than ever before.”
The PeriscopeIQ Solution
PRM worked closely with the PeriscopeIQ team to assess and implement thePeriscopeCOMP and Compensation On-Demand Analytics (CODA) solutions for its not-for-profit compensation survey database, one of the largest and longest-running databases of its kind in the United States. PeriscopeCOMP is a unique, online compensation survey platform that includes comprehensive pay and benefits information, advanced survey logic, sophisticated data validation, and extensive reports for external analysis. PeriscopeCOMP has a direct integration with CODA, which creates accessible, customizable and accurate compensation reports that contain as much or as little information as desired. In addition, the CODA proprietary algorithms ensure compliance with Safe Harbor provisions. PeriscopeIQ’s Compensation On-Demand Analytics (CODA™) platform revolutionizes the collection and real-time cleaning of salary and compensation survey data. With CODA, organizations can reduce their data cleaning from days to minutes, create customizable and easy-to-use reports, and greatly reduce their exposure to risk by ensuring they are compliant with Safe Harbor Provisions applicable to compensation surveys. CODA is the only product available that utilizes proprietary algorithms to keep your organization legally compliant without discarding important data.What impressed the PRM team was the fact that not only were they able to collect the data faster and with noticeably fewer errors, but they could deliver a much larger range of tailored reports and analyses for their clients
“With our PeriscopeIQ Compensation and Benefits solutions, we typically use 80% less resource hours, provide 8-10X better data quality, and can cutdown the physical execution time to less than half”, explained Dr. Pawan Singh, CEO PeriscopeIQ. “Beyond the massive gains in efficiency and data quality, what is transformative about our solution is the ability to get a wide range of customized reports, analytics, and insights with just a few clicks.”
Outcome and Impact
PRM’s data quality has dramatically improved, the solution is very easy to use compared to the previous manual process, and they are also seeing a much better survey response rate. “Now that we have the solution set up and running, our surveys next year will be a breeze”, said Lyn McCloskey of PRM. “We will be able to quickly set it up and send it out in just a few hours. ”A next step for PRM will be to implement PeriscopePAY, which will allow non-HR users to get the data they need, on-demand, without needing the previously necessary analytical skills.
“This is a truly transformative solution”, explained Lyn McCloskey, a Principal at PRM. “We can now do things that were previously not possible at any price.”
PRM needed to optimize their survey process so that they could turn survey requests around more efficiently and provide a higher level of data quality to their clients and survey subscribers
PRM worked closely with the PeriscopeIQ team to assess and implement the PeriscopeCOMP and Compensation On-Demand Analytics (CODA) solutions for its not-for-profit compensation survey database, one of the largest and longest-running databases of its kind in the United States