What is OpenComp?
OpenComp is compensation software, or a "compensation intelligence platform," providing benchmarking, design & plan activation, offered wtih the goal of helping users to get compensation right and pay employees fairly. The service includes market data, planning, analytics, and professional consultation, to simplify compensation planning.
Some if its features include:
OpenComp does not buy outside data; according to the vendor, their data comes directly from thousands of customers. They further state their data sets best represent the behaviors of small to medium sized businesses. Their benchmarks are updated on a quarterly basis. Currently the solution boasts integrations with 20+ HRIS and equity management providers to automate compensation data entry and update data and insights daily.
OpenComp can be started for free on the Team plan level, and Premium pricing starts at $4 per employee.
Some if its features include:
Market Pulse - See how a company pays versus its peers, and run quick pulse market queries and cost-to-market analyses with:
- AI-enabled job architecture & leveling
- Benchmark normalization & indexing
- HRIS & equity provider integrations
Comp Design Studio - Model, create, and configure compensation programs optimized for competitiveness, burn and dilution with free tools like:
- Pay ranges
- Geographic strategy
- Headcount planner
- Scenario modeling
Activation Hub - Help HR leaders gain clarity every time they make a compensation decision with:
- Intelligent offers
- Adjustments
- Executive scorecards
OpenComp does not buy outside data; according to the vendor, their data comes directly from thousands of customers. They further state their data sets best represent the behaviors of small to medium sized businesses. Their benchmarks are updated on a quarterly basis. Currently the solution boasts integrations with 20+ HRIS and equity management providers to automate compensation data entry and update data and insights daily.
OpenComp can be started for free on the Team plan level, and Premium pricing starts at $4 per employee.
Categories & Use Cases
Technical Details
| Deployment Types | SaaS |
|---|---|
| Mobile Application | No |
FAQs
What is OpenComp?
OpenComp is compensation software, or a "compensation intelligence platform," providing benchmarking, design & plan activation, offered wtih the goal of helping users to get compensation right and pay employees fairly. The service includes market data, planning, analytics, and professional consultation, to simplify compensation planning.
How much does OpenComp cost?
OpenComp starts at $4.