Compa, the leader in offer management software, announced the launch of its newest offering, Compa Index, a compensation market data and offer intelligence product.
Unlike traditional compensation surveys, Compa Index connects offer data from your applicant tracking system (ATS) across its customer network, eliminating manual submissions and introducing new visibility into internal offer spend insights. By automatically matching accepted and rejected job offers, compensation data is leveled across participating companies.
Compa Index comes out of stealth after launching privately with 30+ enterprise technology companies including NVIDIA, Stripe, Instacart, Block, and Autodesk, making tens of thousands of offer insights available to new customers.
“Compensation leaders have been flying blind for over two years,” said Charlie Franklin, Co-founder & CEO of Compa. “Inflation, remote work, the great resignation, pay transparency – these system shocks have made legacy market data sources badly outdated. Add to that the sharp decline in tech industry valuations, and compensation teams are left struggling to set total rewards strategy effectively in a world that demands greater efficiency, accountability, and precision. Compensation leaders need better data. That’s why we built Compa Index.”
Compa Index launches its real-time market data as exclusively available for the technology industry, a sector rocked by spending cuts and layoffs after years of skyrocketing salaries for technical talent. Companies like DoorDash, Block, and MongoDB use Compa Index to gain better visibility into changing pay practices as market volatility continues.
“Many compensation leaders have been bitten by outdated data,” said Nick Klute, Senior Manager, Compensation at DoorDash. “In the tech sector, changes can happen rapidly, and if you’re not up to speed on these changes and expectations, your offers may fall flat. With real-time market data from Compa Index, these problems disappear into the ether, allowing you to make informed compensation decisions that are relevant to the current market.”
Compa Index introduces the first offers-based market data platform, including the following capabilities:
- Offers-based Compensation Benchmarks – Offers are transaction data, like the housing market, representing uniquely pure signal about talent markets. Compa Index combines accepted and rejected offers across its customer network to provide a real-time benchmarking data source for salaries, bonuses, and even stock compensation.
- Predictive Market Insights – Offers combine compensation data with meta information like market offer accept rates and offer volumes, providing users with predictive insights about where compensation is trending.
- Job Matching and Leveling – Offer data contributing to Compa Index is matched to Compa’s standard career architecture, providing apples-to-apples market comparison by level and job family. Compa configures tenant offer data during the onboarding process by enriching offer data with details like stock vesting schedules and signing bonuses. Matches stay synced, eliminating the need for manual submissions.
- Internal Offer Reporting – During the onboarding process, Compa structures and enriches your offer data before contributing it to the market data set. This process enables powerful dashboarding and reporting capabilities for internal spending patterns, overcoming limited capabilities inside the applicant tracking system (ATS) so compensation leaders can track offer activity in real-time.
- High-Quality Global Data – Compa Index data comes from applicant tracking system (ATS) data from its customer network in a “give-to-get” model. Verified, system of record data contributes continuously and automatically following a rigorous quality inspection process. Because Compa connects to the ATS, data is available globally and automatically.
- Industry-Leading Privacy & Security – Compa is SOC2 Type 2 and GDPR compliant, and securely handles offer data from leading global enterprises in the financial technology, aerospace, semiconductor, artificial intelligence, and e-commerce industries. Privacy rules are designed by compensation experts in collaboration with Compa’s customer advisory board with representation from companies like NVIDIA, Block, and Stripe.
Kathi Enderes, SVP Research and Global Industry Analyst at The Josh Bersin Company, a leading HR technology analyst, said, “Systems like Compa help give rewards professionals all the insights they need to execute on their rewards strategy to make it fair and equitable at the core. Without data and analytics that’s not possible.”
Discover the full potential of your Hrtech strategy with our comprehensive Hrtech News and Hrtech Interviews.