OpenComp
Make clear, confident, and fair pay decisions—every step of the way.
Executive Summary
OpenComp is a comprehensive compensation management platform designed for growing companies, particularly those up to 1,500 employees, to structure and manage employee compensation effectively. It provides real-time compensation data, AI/ML-powered salary benchmarking, and forecasting tools, enabling HR and finance teams to make data-driven decisions. The platform ensures internal equity, compliance, and helps attract and retain talent by offering a unified, transparent approach to pay.
Use Cases
- Attracting and retaining top talent with competitive and transparent compensation packages.
- Ensuring internal pay equity and compliance with evolving pay transparency laws.
- Developing and implementing a consistent compensation philosophy and salary ranges.
- Strategic headcount planning and budgeting for sustainable growth.
- Automating and streamlining merit and bonus cycles.
- Communicating total rewards effectively to employees to foster trust and engagement.
Features
Visibility
- Global Compensation Data: Access to continuously updated global compensation data for informed pay decisions across roles and regions.
- Real-time Benchmarking: Compare company pay against market data instantly, identifying how each employee's compensation stacks up.
- Pay Equity Analysis: Provides detailed DEI metrics and insights to identify and resolve pay disparities by gender or ethnicity.
- Headcount Planning: Model hiring plans and budgets to project impacts on payroll expenses, burn rate, and equity dilution.
- Total Rewards Statements: Generate clear, interactive statements outlining base pay, bonus, equity, and benefits for employees.
Intelligence
- AI/ML-Powered Matching & Normalization: Automates the process of matching and leveling employee data to market benchmarks for accurate comparisons.
- Proprietary Range Builder: Creates company-specific salary bands based on compensation philosophy, balancing cash and equity, and adjusting for geography.
- Intelligent Offer Management: Provides recommended salary ranges, peer compensation data, and auditable workflows for competitive and compliant job offers.
- Automated Merit & Bonus Cycles: Streamlines and automates salary increases, budget controls, and incorporates performance data for fair merit cycles.
- Predictive Forecasting: Offers data-driven forecasts and clear visuals for strategic headcount decisions aligned with company goals.
Support
- Dedicated Customer Success: Access to a dedicated support team and customer success managers for guidance and platform optimization.
- Comprehensive Resource Library: Provides guides, tools, and best practices for compensation management.
- Compensation Consulting Practice: Expert guidance to refine compensation programs, from philosophy to pay equity audits.
- Free Trial/Demo: Opportunity to try the platform or request a personalized demonstration.
Technical Specifications
- Architecture
- Cloud-native SaaS
- Deployment
- Cloud/SaaS
- Authentication
- SSO, SAML 2.0, MFA
- API Available
- Yes
- MCP Server
- No
AI/ML Stack
- Machine Learning
- NLP
Integrations
- Workday
- BambooHR
- Greenhouse
- Lever
Security & Compliance
Certifications: SOC 2 Type II, GDPR, CCPA
Encryption: Data encryption at rest and in transit
Data Residency: Cloud-based
Pricing
- Model
- Tiered subscription
- Starting Price
- Starting at $4,500/year
- Target Customer
- SMB to Mid-Market (up to 1,500 employees)
- Contract Type
- Annual
- Free Trial
- Yes, Custom demo available, 'Try for Free' option (credit card required)
About OpenComp
OpenComp is a B2B software company that provides compensation intelligence solutions through a cloud-based platform. Their main products and services include real-time compensation benchmarking, cross-organization compensation analysis, pay equity evaluation tools, and management of merit cycles and salary ranges. They target high-growth companies and organizations up to 1,500 employees, enabling them to make strategic, objective, and transparent pay decisions.