Paving The Way: April Release Notes
With merit cycle season fast approaching in Q2, these features will help your company be transparent and fair in your comp practices
The comptech revolution continues to build steam!
Pave’s engineers, designers and the rest of our product team have been hard at work iterating on customer feedback and making our software faster, easier and more intuitive to our users.
This month, we go behind the scenes with a few Pave team members to find out the latest improvements with our benchmarking, planning and communication platforms.
With merit cycle season fast approaching in Q2, these features will help your company be transparent and fair in your comp practices!
And away we go...
Benchmarking: New Updates on Comp Data
Firstly, we're excited to celebrate a 11% increase in companies using Pave Benchmarking since March! We now help 2,200+ companies benchmark compensation, and the employee database (222K+ records) is growing every day.
Thanks to our real-time data growing richer daily, you can log in today to see what the market is paying for Q2 hiring. Explore now!
Second is the release of “Search Success Feedback.”
Pave launched a survey to gather quick qualitative feedback about the results that folks are seeing in the Benchmarking tool. Starting right now, users will see the survey on the results page and see it for every subsequent search in a session (i.e. while the tab remains open).
The goal of this feature is to gather feedback on the data people are seeing and better correlate data quality indicators with qualitative feedback.
Last but not least, we build on our announcement from earlier this week about New Hire Equity.
Nitin Gupta, Pave Head of Benchmarking, dedicated an entire post just to the story behind this launch, and it’s a must read. In a world where most companies don’t do market based benchmarking for equity, we’ve just released a product that can unlock the ability to trust that the data is actually real.
Want to meet the team that paved the way for this release? Thanks to Chris Prinz (Data Science) for honing the idea as well as the data analysis for the results, and Robby Cohen (Software Engineering) for running the bug bash & making fixes before shipping! And as for the New Hire Equity launch, well, there are simply too many awesome contributors to list! Truly a team effort everyone.
Plan: New Features in Comp Planning
Pave just released the ability for you to freeze integration data before a cycle is finalized!
The benefits of doing an early freeze:
- Accidental mid-cycle updates to company HRIS systems will no longer cause data issues
- Performance should be improved after snapshotting integration data! Initial load will only improve incrementally (~20-40%), but user actions like saving, pulling up employees, or releasing reward letters should improve dramatically.
One of our clients saw a 25% improvement in their Approvals load time, 93% improvement in Save actions, and 93% improvement in Reward Letter releases. Boom!
Another exciting feature release is, we’ve added support for bulk reward letter download in Compensation Planner.
Previously, downloading reward letters was an extremely monotonous, time-consuming process.
Pave’s delivery team would have to navigate to each employee's Total Rewards portal and download each letter individually.
Now, with the single click of a button, we can download all enabled reward letters for your cycle! If your company has a merit cycle coming up, you’ll be relieved to have this feature streamline your reward messaging. Now you can spend that extra time on what matters most, which is developing and celebrating your team’s growth.
Which Pavers were behind these features? Shout out to Remy Afong (Software Engineering) for focusing on customer impact, and Matthew Ong (Software Engineering) for gathering insights for this feature and getting it over the line! Awesome work y’all.
That wraps up this month’s edition of Paving The Way!
A special thanks to our product team members who took us behind the scenes, and a big hug of jawn to all of our customers whose conversations inform our work and help evolve this platform for all users.
P.S. Pave is growing incredibly fast. We have high ambitions to make compensation open, transparent, and fair. If you want to become part of our team of data scientists, engineers, and other teams building the future of work, let’s talk. Check out our 40+ job openings.