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OpenComp Reviews & Product Details

Matt H.
MH
Small-Business(50 or fewer emp.)
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Validated Reviewer
Review source: Organic
What do you like best about OpenComp?

I love how robust and accessible the program is. Review collected by and hosted on G2.com.

What do you dislike about OpenComp?

I can't think of anything at the moment. Review collected by and hosted on G2.com.

What problems is OpenComp solving and how is that benefiting you?

As a growing startup we are trying to make sure that we are paying salaries that are attractive to prospective employees as well as fair on the market. We want to grow in a way that is stable and concise to be able to not only sustain our continued growth with amazing prospective talent, but also maintain a healthy burn rate of capital. OpenComp allows us to look at the market accurately and determine our best course of action when deciding on job leveling and subsequent compensation. Review collected by and hosted on G2.com.

OpenComp Overview

What is OpenComp?

Helping employers create and communicate unbiased and objective pay plans that foster healthier, happier, and more collaborative employment relationships.

OpenComp Details
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Product Description

OpenComp empowers high-growth companies to confidently make the best business decisions with compensation intelligence. More than 2,000 companies use OpenComp to attract and empower top talent in fair, consistent ways, including Calm, DataRobot, Discord, DrChrono, Figma, Medium, Mosaic, Mux, and Reddit. Founded in 2021 by Thanh Nguyen and Nancy Connery, Salesforce’s founding HR team, OpenComp has raised $24 million in venture capital from J.P. Morgan, TIME Ventures (the investment fund for Marc Benioff), 8VC and more. OpenComp is available for free for organizations up to 50 employees, with tiered pricing and services for other organizations based on size and needs. Sign up at www.opencomp.com and get connected at www.linkedin.com/opencomp.


Seller Details
Seller
OpenComp
Year Founded
2021
HQ Location
Denver, US
Twitter
@opencomp
60 Twitter followers
LinkedIn® Page
www.linkedin.com
23 employees on LinkedIn®

David W.
DW
Overview Provided by:

Recent OpenComp Reviews

Maggie H.
MH
Maggie H.Mid-Market (51-1000 emp.)
5.0 out of 5
"A game-changer for comp management"
Easy to use HRIS integration Robust knowledge base with helpful resources Responsive and knowledgeable comp consultants Custom pay and...
Cailean B.
CB
Cailean B.Mid-Market (51-1000 emp.)
5.0 out of 5
"Great tool, easy to use, great UI, support and sales were great."
I use OpenComp every day. The UI is very easy to use. Data is easy to pull and organize. We've used several different comp tools during my tim...
Jack S.
JS
Jack S.Mid-Market (51-1000 emp.)
5.0 out of 5
"Easy and Affordable Comp Tool that every Startup should have"
The UI is very intuitive and easy to use The price is right for a growing start up Great starting point for building a compensation strategy
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OpenComp Media

OpenComp Demo - Market Analysis
This view provides both a high-level overview of where your employees sit relative to market compensation and detailed-level analysis down to the Employee Type, Level, Department and Individual.
OpenComp Demo - Range Tool
Easily view where your employees fall against your pay strategy.
OpenComp Demo - Headcount Planning
Simulate the impacts of possible hiring strategies.
OpenComp Demo - DE&I Dashboard
Gain actionable insights on fair pay for all of your employees. Compare pay between genders, ethnicities, or both!
OpenComp Demo - Creating Offer Letters
Create Offer Letters in the App! See where the candidate stacks up against their peers and past offers—the perfect tool for helping you acquire top talent and create competitive talent.
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19 out of 20 Total Reviews for OpenComp

4.7 out of 5
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19 out of 20 Total Reviews for OpenComp
4.7 out of 5
19 out of 20 Total Reviews for OpenComp
4.7 out of 5

OpenComp Pros and Cons

How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Cons

Overall Review Sentiment for OpenCompQuestion

Time to Implement
<1 day
>12 months
Return on Investment
<6 months
48+ months
Ease of Setup
0 (Difficult)
10 (Easy)
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Maggie H.
MH
Recruiter
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Review source: Organic
What do you like best about OpenComp?

Easy to use

HRIS integration

Robust knowledge base with helpful resources

Responsive and knowledgeable comp consultants

Custom pay and geo strategy

Visual offer tool Review collected by and hosted on G2.com.

What do you dislike about OpenComp?

There's not much to say here; some roles haven't been created yet, but you can send job descriptions to their team for feedback, and they will provide recommendations. Data for some international locations is also limited, but they are consistently adding roles, market data, and functionality, so I expect this will improve over time. Review collected by and hosted on G2.com.

What problems is OpenComp solving and how is that benefiting you?

Pay equity and benchmarking: we can confidently benchmark salaries and align pay with market standards.

Compensation strategy: we can customize our approach as a global company with multiple employee locations.

Offer approval workflow: OpenComp's offer tool enables us to streamline the approval process and track the status of our offers. Review collected by and hosted on G2.com.

Bridget M.
BM
Director of People Operations
Small-Business(50 or fewer emp.)
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Validated Reviewer
Verified Current User
Review source: Organic
What do you like best about OpenComp?

It's very easy to start using OpenComp right away. I started using their free version when my company was <25 people. As we grew, I liked the platform and so it made sense to move to the paid version, which I found very competitively priced. Through it all, their team has been available to support my continuous learning and supported me in configuring it as to meet my goals. Review collected by and hosted on G2.com.

What do you dislike about OpenComp?

They lack data for some very industry-specific roles. Their data seems to be pretty great for the average SaaS tech startup, SMB, or enterprise, but they lack market data for certain types of positions in gaming or more creative industries. Review collected by and hosted on G2.com.

What problems is OpenComp solving and how is that benefiting you?

Small businesses often end up with messy compensation that needs to be fixed later because they did not spend time early on building a compensation strategy and investing in tools that will provide market data to inform decisions on salary ranges, bonuses, and equity. Especially within the tech industry where small companies are competing with each other, as well as larger enterprise companies for talent, it's extremely beneficial to be able to understand how competitive your company's salary ranges are compared various labor markets you compete with. The market data provided by OpenComp has helped me feel more confident negotiating externally (when hiring) and internally (proposing promotion increases). Review collected by and hosted on G2.com.

Cailean B.
CB
HR
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Organic
(Original )Information
What do you like best about OpenComp?

I use OpenComp every day.

The UI is very easy to use. Data is easy to pull and organize. We've used several different comp tools during my time here and this is by far the easiest to use. It also links seamlessly to our HRIS system to organize and benchmark current employees. We have already renewed and don't plan on changing anytime soon.

Support is very good as well. They are quick to respond with answers to my questions. Review collected by and hosted on G2.com.

What do you dislike about OpenComp?

It would be great if you could merge two positions, however, I can do this manually on my end. It's not a huge deal, but other tools have done this.

Overall, not too much I dislike. Some positions don't exist yet, but they allow you to share feedback and things get added as they continue to grow. Review collected by and hosted on G2.com.

What problems is OpenComp solving and how is that benefiting you?

quick and easy access to accurate salary data. Not just base comp, but also total package including equity. Review collected by and hosted on G2.com.

Vivek P.
VP
Head of Talent & Executive Recruiter
Small-Business(50 or fewer emp.)
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Validated Reviewer
Verified Current User
Review source: Organic
What do you like best about OpenComp?

With the sea of comp tools out there, OpenComp strives to be the best. I've used them both at my last company + current company and as a Founder, I constantly find myself needing the best comp tools to ensure our Teams are taken care of. OpenComp does an excellent job making a UI and intuitive software that is easy to use. Review collected by and hosted on G2.com.

What do you dislike about OpenComp?

The comp field is competitive, and constatly requires new data to be imported to be accurate. I'd love if OpenComp updated their job families on a more regular basis. Review collected by and hosted on G2.com.

What problems is OpenComp solving and how is that benefiting you?

OpenComp gives my clients the confidence that we are paying people competetively and fairly. Review collected by and hosted on G2.com.

AG
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best about OpenComp?

Open Comp's UI is super user-friendly. Pulling Data is extremely easy and you have the ability to run multiple scenarios at once. Open Comp's real time data is an awesome way to stay competitive in the market. Review collected by and hosted on G2.com.

What do you dislike about OpenComp?

I have found a bug in the comp data in which ligher levels had lower pay, however, in speaking with the support team, we were able to get this fixed quickly. Review collected by and hosted on G2.com.

What problems is OpenComp solving and how is that benefiting you?

OpenComp provides me with the data I need to help our company stay compeitive in the hiring market as well as retain top talent. Review collected by and hosted on G2.com.

Jack S.
JS
HR Generalist | Recruiter
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best about OpenComp?

The UI is very intuitive and easy to use

The price is right for a growing start up

Great starting point for building a compensation strategy Review collected by and hosted on G2.com.

What do you dislike about OpenComp?

Very little I dislike about this product. Maybe more comp data. Review collected by and hosted on G2.com.

What problems is OpenComp solving and how is that benefiting you?

It is helping us have a more data driven strategy to our compensation stuctures Review collected by and hosted on G2.com.

JF
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best about OpenComp?

OpenComp has transformed our compensation strategy and administration. Its user-friendly interface, wide range of features, and amazing customer support + CSMs make it one of our most valued HR + Finance systems. We're super excited to see how the tool continues to evolve in the future and we're confident that it will continue to meet our strategic and operational needs.

It's been a game-changer for us, and we couldn't have evolved our compensation strategy OR provided seamless pay transparency and equity without our parnership with OpenComp. The DEI tool is a must-have for any compensation team. Review collected by and hosted on G2.com.

What do you dislike about OpenComp?

Their product team is very open to feedback on the user experience as well as any feature/enhancement recommendations - this is a huge plus for us! They've been super receptive to our feedback so honestly the only current product downsides are 1.) OpenComp does not sync with our HRIS which means no realtime updates, and 2.) no ability to terminate employee in the system and then essentially create a backfill that preserves the leveling. Would be awesome to create a position ID of sorts that assigns level to roles. Review collected by and hosted on G2.com.

What problems is OpenComp solving and how is that benefiting you?

Simple salary benchmarking, customized compensation structures, and comp cycle management. It's very, very easy to intuit pay disparities and range penetration or compa ratio. The DEI analysis gives us an opportunity for data-driven pay equity. Review collected by and hosted on G2.com.

Amy B.
AB
Human Resources Director
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Review source: Organic
What do you like best about OpenComp?

The platform allows me to maintain employee benchmarks for all employees with our updated information thanks to the connection with our HRIS. No manual entry! And my comp benchmarks are update whenever I need them. Rather than pour through data in a ton of other resources, I use OpenComp as my source of truth. Review collected by and hosted on G2.com.

What do you dislike about OpenComp?

So far I haven't found any dislikes about the platform. Review collected by and hosted on G2.com.

What problems is OpenComp solving and how is that benefiting you?

I would have to compile salary data from multiple sources before. Now, I don't have too. Review collected by and hosted on G2.com.

Allie M.
AM
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best about OpenComp?

OpenComp is very user friendly and implementation was top notch. Very thorough and customizable. I found you get more bang for your buck, meaning more features for the same cost as competitors. Their DEI/pay equity analysis is also very helpful and an important tool. Review collected by and hosted on G2.com.

What do you dislike about OpenComp?

We are new customers and haven't found any dislikes thus far. It is a very comprehensive tool. Review collected by and hosted on G2.com.

What problems is OpenComp solving and how is that benefiting you?

We were looking for a tool that was easy to navigate and would allow other managers or leaders access to their employees as well. We needed to build out our pay ranges, which OpenComp is solving for. We also wanted to use a tool for merit cycles, which we'll do in a few months time through OpenComp, moving away from manual work and spreadsheets. Review collected by and hosted on G2.com.

MK
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Review source: Organic
What do you like best about OpenComp?

The data that OpenComp contains is incredibly valuable for us to build our comp philosophy and perform appropriate benchmarking for all of our roles. There is a great user interface that facilitates our use case and makes it easy to get what we need out of it.

As a scaling company, I also appreciate their willingness to both engage with customers and solicit feedback, but then also act on said feedback. I don't expect that what I say will automatically translate into features, but I have already seen instances where I have provided information and that has translated first into roadmap items for future development and then ultimately into actual features. Review collected by and hosted on G2.com.

What do you dislike about OpenComp?

There have been several times where I have struggled to use some of the ongoing Human Capital Management aspects of the platform. While the data integrity is high and offers great value, running comp cycles through the platform is more cumbersome than it should be (and as a relatively new feature for them, they're working on it). There are some minor things that speak to them wanting to paint a broad brush with their approach and appease most use cases, but not allowing flexibility for individualization and customization - for example, the default for most things is the 50th percentile, but since we use different percentiles, we find that we have to view multiple screens to get what we want. Review collected by and hosted on G2.com.

What problems is OpenComp solving and how is that benefiting you?

It is solving my compensation management and benchmarking challenges. As I mentioned, it's been great from a data management and lookup perspective and I think it's been critical for our alignment on compensation as an organization. Review collected by and hosted on G2.com.