Compa has launched its new product, Compa Frontline, which provides real-time compensation intelligence in a space needing new insights. We're excited for this innovation, which will broaden Compa's industry impact and likely become a gateway for additional market impact.
Why This is Needed
The frontline worker is a massive workforce segment. While retail workforces have declined since COVID, the Census Bureau estimates there are more than 13 million retail workers in the United States. These jobs are among the highest turnover roles in the labor market, a result of intense competition for similarly-waged workers, often difficult work environments, and a workforce demographics that result in frequent mobility. It's a dynamic labor market. Here are some things we've heard from clients about this market space:
"We find that we can't pay the same starting rate at two stores across the city from each other - no one wants to commute to one location."
"All's fine until Amazon opens a distribution center nearby."
"We've trusted our survey data for ages, but now we're finding we can't hire unless we start above the 50th percentile. It doesn't seem like the data is keeping up with reality."
Compa Frontline looks to address these needs.
How It Works
Compa Frontline is a custom dataset built through integration with participating companies' HR systems, tracking workers' rates of pay and offered compensation. Compa has been deliberate in approaching new industry verticals, taking great care to understand how different industries think about pay so that the database renders helpful insight. The Compa team ensures each organization's data is appropriately linked to their underlying job and compensation taxonomy, and the database is refreshed regularly via the implemented integration. No need to fill out surveys every quarter/year - data stays fresh so labor market changes can be spotted faster.
Compa's approach understands explicitly the need for hyper-localization. No generic insights for the "Midwest" or the "Greater Chicago Area." Rather, Compa enables zip code level insights, so retail compensation professionals can see how wages vary within a metropolitan area.
What We'd Like to See
Now that Compa has established methods for handling these types of roles, we see an extension to other highly localized positions in the same wage category, like hospitality, food service, and even manufacturing. These markets are challenged by the same labor market pressures, and we see Frontline as a solution once Compa is ready to expand its underlying job structure.
Discloure
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