Pave Review: The Data-Driven Compensation Platform That Helps You Build a World-Class Team

Compensation is an important part of employee satisfaction and retention, and it can also have a significant impact on a company’s bottom line.

There are many different factors that can affect compensation, including the employee’s skills and experience, the job market, and the company’s budget. It can be difficult to keep track of all of these factors and make sure that employees are being fairly compensated.

This is where tools like Pave come in.

In this review, I will explore the features of Pave, the benefits of using it, and my overall thoughts on the platform.

 

What Is Pave?

Pave is a data-driven compensation platform that helps companies build a world-class team. With Pave, you can:

• Create fair and competitive compensation packages
• Track your compensation spend
• Stay up-to-date on market data
• Align your compensation with your company’s values

Pave is used by companies of all sizes, from startups to enterprises. It’s a powerful tool that can help you attract and retain top talent.

 

Features of Pave

Pave offers a comprehensive suite of features that empower companies to manage their compensation and performance management processes effectively.

From real-time benchmarking and compensation planning to performance management and integrations with HRIS, cap table, and ATS tools, Pave provides the tools necessary to attract, retain, and motivate top talent

Let’s dive into each of these features and explore them further.

 

1. Real-time salary and equity benchmarking

One of Pave’s standout features is its ability to provide real-time salary and equity benchmarking. This means that as a company, you can easily compare your employees’ salaries and equity packages to industry standards and market trends. 

This is an important feature, as it helps companies make informed decisions when it comes to setting fair and competitive compensation packages.

 

2. Compensation planning

With Pave, your organization has access to tools and functionalities that enable HR and compensation teams to design and manage comprehensive compensation structures.

Using this feature, your company can allocate budgets, set salary ranges, and create incentive programs efficiently. By centralizing compensation planning, Pave simplifies the process and ensures consistency and fairness across the organization.

 

3. Performance management

Pave enables companies to set goals, track progress, and evaluate employee performance in a structured and systematic manner. This feature allows for ongoing feedback and performance reviews, fostering a culture of continuous improvement. 

 

4. Integrations with HRIS, cap table, and ATS tools

Pave understands the importance of seamless integration with other HR and business tools. The platform offers integrations with HRIS (Human Resource Information System), cap table (Capitalization Table), and ATS (Applicant Tracking System) tools.

These integrations ensure that data flows smoothly between systems, reducing manual data entry and increasing accuracy.

 

5. Data privacy

Data privacy is a critical aspect of any HR platform, and Pave recognizes this. The platform ensures that data privacy is baked into its design and functionality.

This means that Pave follows best practices and regulations to safeguard employee data and ensure compliance with privacy laws such as GDPR (General Data Protection Regulation) and CCPA (California Consumer Privacy Act). 

 

Benefits of Using Pave

Using Pave brings a multitude of benefits to organizations. Let’s dive into each of them and explore how they positively impact businesses and their employees.

1. Increased compensation transparency

One of the key benefits of Pave is the increased transparency it brings to compensation. By leveraging real-time salary and equity benchmarking data, companies gain valuable insights into how their compensation packages stack up against industry standards.

This transparency not only helps employers ensure they are offering competitive compensation but also allows employees to understand the rationale behind their pay. This is an excellent way to foster trust and open communication within the organization.

2. Improved decision-making

Pave’s features, such as real-time benchmarking and compensation planning, empower companies to make more informed decisions when it comes to compensation.

By streamlining the compensation planning process, Pave helps decision-makers allocate budgets effectively and make fair and equitable decisions across the organization.

3. Reduced administrative burden

Managing compensation and performance processes manually can be time-consuming and prone to errors.

Pave alleviates this burden by providing a centralized platform that automates various tasks. It integrates with HRIS, cap table, and ATS tools, thereby helping eliminate the need for duplicate data entry and reduce administrative overhead. 

4. Increased employee satisfaction

When employees have transparency into their compensation and understand how it aligns with market standards, it can significantly boost their satisfaction.

Pave’s real-time benchmarking feature helps employees see the bigger picture and appreciate the fairness and competitiveness of their compensation. 

5. Enhanced employer brand

Using Pave can have a positive impact on an organization’s employer brand. Transparent compensation practices, fair and equitable decision-making, and an emphasis on employee satisfaction all contribute to creating a positive employer brand.

When companies are seen as transparent, fair, and invested in their employees’ success, it helps attract top talent and positions the organization as an employer of choice.

 

Pave Integrations

Pave integrates with a variety of HR tools, including:

• HRIS: BambooHR, Ceridian, Gusto, Hibob, Humaans, Humi, Justworks, Namely, Paylocity, Personio, Rippling, Sapling, Sequoia, TriNet, Workday, Zenefits
• Cap table: Carta, Charles Schwab, E*TRADE, LTSE Equity, Ledgy, Morgan Stanley at Work
• ATS: Greenhouse, Lever, Workday ATS

 

Pave’s Pricing & Plans

Here’s an overview of the various pricing plans offered by Pave. Whether you’re just starting out or looking to implement advanced compensation management practices, Pave has the right plan for you. 

The Free Plan

Use the free plan to gain a comprehensive understanding of the market with real-time data. This pricing plan allows you to access valuable market insights and trends, enabling you to make informed decisions regarding compensation.

The Foundation Plan

With this plan, you can establish a solid foundation for your compensation practices. It’s a great option to implement essential compensation fundamentals, ensuring that your organization has a structured and fair approach to compensating employees.

The Pro Plan

Take your compensation strategy to the next level by making data-driven decisions at scale. This pricing plan empowers you to leverage advanced analytics and comprehensive data sets to optimize your compensation practices and ensure that they align with your organization’s goals.

The Premium Plan

Achieve end-to-end compensation management and communication with this top-tier plan. From designing and implementing compensation strategies to effectively communicating them to your employees, this plan provides a comprehensive solution for managing and optimizing your organization’s compensation practices.