The human arsenal has always been a little on the loaded end of things, and yet it still hasn’t seen an element more significant than that desire of ours to improve at a consistent clip. We say this because the stated desire has fetched the world some huge milestones, with technology appearing as a rather unique member of the group. The reason why technology’s credentials are so anomalous is centered on its skill-set, which was unprecedented enough to realize all the possibilities for us that we couldn’t have imagined otherwise. Nevertheless, a closer look should be able to reveal how the whole runner was also very much inspired by the way we applied those skills across a real-world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence and made it the ultimate centerpiece of every horizon. Now, having such a powerful tool run the show did expand our experience in many different directions, but even after reaching so far ahead, this prodigious concept called technology will somehow keep on delivering the right goods. The same has grown to become a lot more evident over the recent past, and assuming one HRM-themed development pans out just like we envision, it will only propel that trend towards greater heights in the near future and beyond.
Compa, the leader in offer management software, has officially launched a compensation market data and offer intelligence product called Compa Index, which is designed to provide an intuitive set of offer spend insights and help you make more informed decisions. Interestingly enough, Compa Index doesn’t follow the traditional script as it instead connects offer data from your applicant tracking system (ATS), something that eliminates any need for manual submissions. But what are some granular-level functionalities coming into play here? Well, for starters, the solution is understood to be equipped with offers-based compensation benchmarks. This basically means leveraging the product’s combined mix of accepted and rejected offers to provide a real-time benchmarking data source for salaries, bonuses, and stock compensation. Next up, Compa Index has the capability to use compensation data in conjunction with market trends like accepted rates and offer volumes, therefore unlocking the access to predictive insights about where your concerned industry might be heading. Another detail worth a mention would be the product’s skill in giving the relevant data an optimal structure and informational value so to allow value-driven reporting of internal spending patterns, and guess what; it carries out the whole process in real-time.
“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.”
Hold on, there is more. With Compa Index, you are also getting a chance to enjoy complete security and privacy throughout the supposed progression. This guarantee comes on the back of Compa being a SOC2 Type 2 and GDPR compliant company, a designation which indicates it can securely handle offer data from leading global enterprises across the financial technology, aerospace, semiconductor, artificial intelligence, and e-commerce industries. In case the value proposition is still not attractive enough for you, then it must be mentioned how the solution’s approach of collaborating with a common application tracking system further helps it in realizing a worldwide access for the required data.
“Many compensation leaders have been bitten by outdated data,” said Nick Klute, Senior Manager of 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.”
Founded in 2020, Compa’s vision has always been to make compensation more equitable across the board. To achieve the stated objective, the company started out by launching a product named Compa Offers, which is the software for enterprise talent acquisition teams to seamlessly automate offer workflows. However, now that it has Compa Index joining the party, this objective looks closer than ever before.
