Case Study: Advanced HR
The Challenge
A San Francisco based provider of compensation data and compensation planning software designed for and used by over 2,300 private and venture backed companies. Most start up and venture back companies need to develop competitive compensation plans that can attract the right talent and keep their incentives aligned with the success of the company. However, consulting firms that specialize in building these types of compensation structures for companies come with extremely high consultation fees. This large up-front expense diminishes the same pool of funds needed to jump start operations.
The Plan
Assemble a team of developers who can build an automated cloud-based platform that can analyze how different data cuts, retention, bonus and merit programs affect the budget. Build salary bands for every department and level, choosing the best mix for a company’s needs based on data analysis from over 3000 other companies who self-elect to feed their data into the system so they can also benefit from the larger ecosystem of participating companies. Price the solution as a service offering that is not cost prohibitive to the startup company market place.
The Solution
Multiplied’s engineers partnered with subject matter experts at the client to develop a cloud-based platform that can receive integrated global market data and analyze that data to understand the impact on the budget. Based on the market data automatically build compensation plans that can be targeted to any stage of development for a company. To complete the solution, include board-ready reports to socialize the compensation strategies and secure the executive teams buy-in.
