DENVER--(BUSINESS WIRE)--OpenComp, the end-to-end compensation software provider, today announced a new partnership and integration with leading payroll & benefits platform Gusto to make enterprise-grade compensation data and tools more accessible to small and medium-sized businesses. With this new partnership, Gusto customers can access OpenComp’s powerful Compensation Intelligence Platform and connect their pay data directly from Gusto, helping SMBs to level up their compensation strategies while keeping up with increasingly complex pay equity and transparency laws.
All eyes are on employee compensation today: companies are laser-focused on optimizing spend, while pay regulations continually grow more complicated, as 17 additional cities and states consider new regulations in 2023. Companies typically have little resources to navigate this landscape but still need enterprise-grade data and insights to make competitive decisions around hiring, retention and compliance.
Now, Gusto customers can connect their pay data instantly and access OpenComp’s Market Pulse benchmarking solution for free, allowing employers to make better-informed decisions about employee compensation by leveraging real-time market insights.
"The integration between Gusto and OpenComp is a game-changer for small and mid-sized companies," said Thanh Nguyen, CEO and co-founder of OpenComp. "By combining their own compensation data from Gusto with our powerful market benchmarking, we're giving these companies access to data tools and intelligence historically reserved for large enterprises."
With Gusto and OpenComp, companies can instantly benchmark their payroll data, modernize their compensation programs and answer the toughest pay questions. In minutes, users can:
- Search OpenComp's dataset of over 6,000 customers, nearly 4,000 roles in 41 countries and 18 industries
- Better understand their pay competitiveness against their peers
- Automatically match and level jobs using AI with 95% accuracy
- Understand which pay regulations impact their business
- Rapidly and accurately prepare pay data reports
To help navigate new state pay regulations, OpenCompliance - CA Pay Data Edition is also available for free to Gusto customers until April 28, 2023. This tool ingests compensation data from Gusto, pinpoints any needed changes, and rapidly prepares accurate pay data reports for submission before May 10, 2023, as required by the state of California for businesses with more than 100 employees, at least one of whom lives in California.
Gusto users can also upgrade to paid tiers for 30% off through May 4, 2023, to leverage even more tools across OpenComp’s Comp Design Studio and Activation Hub for compensation clarity at the point of every decision. OpenComp’s end-to-end compensation management platform dramatically simplifies otherwise difficult tasks like pay range creation, merit cycle management, DEI analysis and more. And OpenComp's suite of communication and workstream management tools ensures employers are confident in every single decision about pay.
For more information and to sign up, visit https://www.opencomp.com/gusto_signup.
Employers and employees use OpenComp to get clarity at the point of every compensation decision. Together, they’re pioneering a new standard for compensation: one that’s competitive, equitable and scalable.
With OpenComp’s Compensation Intelligence Platform, business and HR leaders optimize compensation program effectiveness with benchmarking, design, and activation tools. Managers, recruiters, employees, and candidates use OpenComp to make the best compensation decisions for themselves and their teams.
Founded in 2021 by Salesforce’s founding HR team, OpenComp is backed by J.P. Morgan, TIME Ventures (the investment fund for Marc Benioff), 8VC, and more. The company was recognized as no. 8 on Fast Company’s Most Innovative Companies of 2023, in the Workplace category. Get started for free at www.opencomp.com, where tiered pricing and services are also available.