How to Benchmark Compensation in OpenComp
A practical guide for using OpenComp to compare you pay versus your peers.
When done successfully, compensation benchmarking can help companies address critical – and often competing – priorities for growth, financing, talent, and culture.
As compensation directly impacts the health of an organization and the individuals hired to meet its goals, it’s particularly important for executives who make compensation decisions to learn about the tools and strategies they need to get compensation benchmarking right.
This how-to guide explains how to benchmark your business using OpenComp’s Compensation Intelligence Platform to:
- Compare your company to peers of your size, industry, and funding stage
- Build a solid foundation for all compensation activities, including budgeting, hiring, employee development, retention, and promotions
- Establish a culture of trust and transparency
- Ensure pay equity by exposing any pay gaps in your organization.