Merit Cycle Management

Run Merit & Bonus Cycles based on market data & salary bands.

by OpenComp · Compensation & Benefits

Merit Cycle Management screenshot

Executive Summary

OpenComp's Merit and Bonus Cycles module runs merit increase and bonus cycles through data-driven workflows. Budgets, eligibility criteria and approval workflows are set up in a step-by-step wizard, and managers see employees' pay in the context of the company's pay strategy and industry benchmarks before they make adjustments. Progress can be tracked from one central location, the impact of the cycle is visible in real time, and letters informing employees of their increases and promotions can be generated automatically.

Use Cases

  • Set budgets, eligibility criteria and approval workflows for a merit or bonus cycle
  • Show managers employees' pay in the context of pay strategy and industry benchmarks when they decide adjustments
  • Draw on market data, pay ranges and performance scores in merit pay adjustment cycles
  • Track each manager's progress from one central location
  • See the real-time impact of a cycle and correct issues
  • Generate letters informing employees of increases and promotions

Features

Visibility

  • Pay Equity Insights: Pay Equity Software: Our solution includes a pay equit software module that allows you to instantly uncover pay gaps across roles, gender, ethnicity, or other demographics, and get the insights you need to take corrective action.
  • Global Compensation Data: Use of compensation management software to access global compensation data and make informed pay decisions .
  • Compensation Benchmarking: Our compensation benchmarking software easily connects with your HRIS and allows you to compare your company’s pay against the market – whether using OpenComp’s rich database or importing third-party survey data.

Intelligence

  • Performance-Based Recommendations: Discover how OpenComp's compensation management solution improves merit cycles by providing market data, performance-based recommendations, and seamless approval flows for better pay decisions.

Support

  • Pay Equity Software: Our solution includes a pay equit software module that allows you to instantly uncover pay gaps across roles, gender, ethnicity, or other demographics, and get the insights you need to take corrective action.

Technical Specifications

Deployment
SaaS

Security & Compliance

Certifications: CCPA (logo), GDPR (logo), AICPA (logo)

Pricing

Target Customer
Mid-Market,Enterprise

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.

Founded: 2021 · Headquarters: Denver, Colorado, United States · Employees: 51-200 · Private

Verified sources

Each of these facts was checked against the vendor page linked (2026-10-15).

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