OpenComp

OpenComp is a compensation management platform covering the full pay decision workflow, from benchmarking and pay strategy through merit and bonus cycles, pay equity analysis, total rewards statements, headcount planning and offer-making.

Pay data is crowd-sourced in real time from customers' HRIS systems and matched and levelled so that benchmarking compares like-for-like roles rather than broad job titles. The platform is aimed at compensation and people teams who want a single system for comp decisions rather than a mix of spreadsheets and separate point tools, and it includes access controls, data encryption and security certifications to protect sensitive pay data.

Typical use covers setting pay ranges and strategy, running annual or ad hoc merit and bonus cycles, checking for pay equity issues, building total rewards statements for employees, and putting together competitive offers for new hires using live market data.

It is taken on as an ongoing software subscription rather than a one-off project, with the level of access and modules used depending on the size and stage of the organisation.