Labor Titan is the best way to understand current and forecasted local market pay across jobs to drive better salary decisions.
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Best in class market pay data and analytics made available to anyone. No specialization needed.
Labor Titan is the best workforce and compensation analytics tool I have seen in my career. It is an essential component of our site selection and workforce analytics process. My clients love the powerful and clear insights they deliver. You need to give Labor Titan a try.
Labor Titan’s powerful workforce and wage analytics simplifies the complex process of analyzing labor markets and wage trends. We use their analytics to help our clients make better supply chain, site selection, and hiring decisions. This is critical for our clients' to optimize their operations/location and mitigate operational risk. I’m glad to have Labor Titan as a trusted partner.
Labor Titan is a cost-effective solution for understanding not just the cost of labor in US geographies, but also for how various economic and job market indicators might impact the projected cost of labor for any given area. They are more than a vendor. They are a trusted and knowledgeable partner in developing viable compensation solutions.
Jason Krantz, founder of Labor Titan, is a global leader in the data and analytics space. He is bringing his elite skills and perspectives to compensation professionals everywhere with his new platform. It makes best in class compensation and workforce analytics accessible to everyone, so you can make better, faster, and more confident compensation decisions. I encourage you to try Labor Titan today.
In a world where many confuse complexity for value, Labor Titan delivers impressive inferences, providing you with clarity and confidence to drive better and faster compensation decisions.
Labor is the biggest cost on most construction projects. It is also one of the hardest costs to estimate. Labor Titan is a valuable tool in the contractor toolbox when it comes to understanding current and forecasted labor costs for key blue collar jobs. This helps construction managers present better, more competitive bids while reducing project budget overruns. Contractors should have Labor Titan in their planning and project management toolbox.
Staying on top of labor and wage trends is hard. Labor Titan makes it easy. Their platform is unlike anything I have seen before. It is powerful yet remarkably simple. This is a potent tool to help companies everywhere win the battle for talent.
Labor Titan is a game changer as it takes the complexity out of budgeting and forecasting for our largest P&L line item - payroll. With its on-demand feature we can get current labor market rates and forecasts for any job description in any location within minutes. In today's challenging labor market, Labor Titan is an essential tool for us to stay competitive and properly forecast for our business.
Given the current economic climate, marked by high inflation rates and supply chain disruptions, having access to Labor Titan is essential for those who want to maintain a competitive edge. With Labor Titan, you can attract and retain top talent in different markets by having a comprehensive understanding of compensation levels. This tool provides valuable insights that can help you stay ahead of the competition and make informed decisions about workforce management.
Regional employers across almost all industries constantly report labor challenges, central to this challenge is understanding current compensation. Labor Titan can map compensation across jobs, differentiating by region, skills and industry. They can even forecast future compensation levels to help the CFO. We are using Labor Titan to help both employers and students better understand career pathways both in terms of the requisite skills, job progression and compensation levels. Labor Titan is a game changer for firms of all sizes that struggle to attract and retain talent. Labor Titan can also support colleges and universities when researching new academic programs, while mapping pathways for students.
This was originally designed for labor shed and market pay analysis for industrial and commercial real estate site selection.
We soon discovered that it could also be very useful for anyone interested in current and forecasted local market pay trends from an independent 3rd party.
This could include internal teams responsible for compensation benchmarking, planning, and management to win the talent battle like:
- CFO
- FP&A
- Operations
- HR and total rewards/compensation
It could also assist external parties responsible for helping multiple organizations with compensation and market wage analysis, benchmarking, and planning including:
- Economic and workforce development groups
- HR and compensation consultants/advisors
- Logistical and supply chain consultants
- Staffing and recruiting firms
- Industry associations
- Fractional CFO’s
- PE Firms
No, this tool is designed to help anyone interested in better understanding current and forecasted local market pay trends.
Our platform is the best fit for industries where workers must be physically present to do their work.
This includes:
- Retail
- Utilities
- Health care
- Construction
- Wholesale trade
- Manufacturing/industrial
- Transportation and warehousing
- Accommodation and food services
- Waste management & remediation services
Thes industries make up over half of the US workforce.
Local labor sheds and general labor availability (and by extension wages) in these industries are heavily influenced by drive times.
As an example, our research shows across all US metros a majority of manufacturing production workers will not drive more than 30 minutes for work.
These are important workforce constraint considerations when assessing current and forecasted local wage trends.
It is easier to point out the jobs our data isn't a great match for due to their unique demands and/or typical compensation structure. These jobs include:
- AI specialists and software engineers/developers
- Startup roles
- Executives
- Sales
Everything else is a great fit for us.
No, our figures are focused on just the fixed pay component of compensation.
Fixed pay makes up ~65-70% of total compensation for non-executive jobs and is typically the primary criteria workers use to compare opportunities.
The image below provides an overview of where fixed pay falls in the total rewards puzzle.
We leverage over 50 public and private data sources. The BLS Occupational Employment and Wages Survey is a significant piece of the puzzle.
While this dataset is great, there are some major challenges with it:
- The day the data is released it is already a year old and is updated just once a year.
- The data can be heavily suppressed and have significant information gaps.
- There are no occupational local wage or local employment forecasts.
- The information is extremely unwieldy, needing a lot of data modeling, cleanup, and standardization if you are looking at trends over time.
- It needs to be effectively combined with other unrelated datasets to really extract where wages are at.
- It is challenging to consistently map your internal job levels to percentile wages. This makes it difficult to ensure you are comparing apples to apples on market pay.
Labor Titan solves all these problems for you.
We solve these challenges by using other public data sources from the BLS, Census, Department of Labor, BEA and O*NET. We also heavily leverage private data from a variety of sources.
No, our focus is on cross industry wages.
A common analysis trap is to look at just what other local companies in your industry are paying.
This approach creates analytical blind spots. For many roles you are competing with the market, not just other companies in your industry.
Additionally, taking a cross-industry perspective increases our sample size, which allows us to provide more detail on other key perspectives like:
- Experience (entry through expert level)
- Job (detailed occupation)
- Time (current month)
- Geography (county)
We are focused on the United States
Analyze local market pay like it is 2024.