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OpenComp Feature Release Recap, April 2022

May 3, 2022 2:10:29 PM | By

 

 

It’s been a busy start to 2022 at OpenComp! We launched a social movement to end gender pay disparities in the pre-IPO market, built a community to bring together the leaders of high growth businesses, and formally announced our Series A. 

 

And, of course, we continued to add even more product features, so you can get the most out of OpenComp. Read on to learn about updated user permissions, remote work tools, new HRIS integrations, and refreshed market data.

 

Share your compensation strategy, simply

 

Compensation impacts every corner of a business, from CEOs and Founders to HR Leaders,  from Recruiters to the Employees they hire. But not every employee needs access to the same information, at the same time. 

 

Our updated user permissions address this by bringing the Team Leader role into OpenComp. Users with an Admin designation can invite users into OpenComp as a Team Leader on an as-needed basis, in order to give them limited visibility into compensation planning. When a user is designated as a Team Leader, they’re granted visibility to only the employees who report to them & their subsequent downstream org chart. 

 

This lets necessary parties view bits and pieces of your master scenarios, while keeping your company-wide knowledge in the hands of only those who need it most.  

 

Manage your remote work policy in just a few clicks

 

Remote work is showing no signs of slowing down, and high-growth companies need to be able to simply and consistently apply a location-based compensation strategy  to remain competitive & secure top talent. 

 

Our new Geo Strategy Tool introduces company-wide overrides that allow you to easily identify and implement your location-based compensation strategy. Instead of trying to remain consistent while manually applying adjustments for individual employees, you can now apply overrides within OpenComp that enact a location-based compensation strategy based on employee location, department, or executive roles. 

 

Save time, stay consistent, and remain focused on what matters most: identifying & hiring the best talent, regardless of location. 

 

Learn more about crafting a strategy to pay your remote team in this guide.

 

Gain real-time insights with automated compensation updates

 

High growth businesses need accurate, real-time insights to accelerate talent acquisition while expertly managing runway. But getting to critical insights manually is too tedious, error-prone, and slow for high growth businesses. Winning offers need to be made as quickly as possible in today’s hyper-competitive market, or organizations risk continuously missing out on hiring their first-choice candidates. 

 

OpenComp now supports over 20 HRIS and Equity Integrations, after adding HRIS providers HiBob, and equity providers Carta and Pulley. These integrations ensure organizations make winning offers while avoiding overspending on salaries, automate their compensation updates, and confidently prevent over-dilution.

 

Make competitive offers with the most up-to-date market data

 

Data is the backbone of everything you can do within OpenComp, so we’re committed to making sure the data we provide is the most up-to-date and accurate pre-IPO compensation data available. 

 

We hit the refresh button on our market data during Q1, so log in or sign up to see your real-time market position.

 

Experience our newest features and get started winning top talent and retaining your top performers. 

 

Sign up for a free OpenComp account today.

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Owen Bitas is Manager of Product Marketing at OpenComp and has held roles at 2A Consulting, Honda, and Rover.com. Connect with him on LinkedIn here.