OpenComp is a comprehensive compensation management solution that helps businesses manage their most valuable asset: their workforce. With OpenComp, employers can lookup market salaries, create compensation ranges, define a compensation strategy, run benchmarking analyses against their comp strategy, issue offer letters, run merit cycles, and conduct pay (DEI) equity analyses.
OpenComp takes the pain out of compensation management. We know first-hand how much effort it takes to complete a compensation benchmarking exercise. You buy expensive surveys that are outdated before the info even gets to you. Then, you have to map your employees to job roles and determine appropriate levels. This is time-consuming and error prone.
When you connect your HRIS or upload your employee roster, OpenComp automatically benchmarks and job-levels your employees.
Once you add your employees, OpenComp’s easy-to-use interface walks you through the creation of compensation ranges based on the strategy you want to set. Create ranges around geography, job family, roles and much more.
From there, you can run Merit Cycles, issue Total
Rewards Statements and conduct DE&I analyses.