ChartHop, the leader in people analytics transforming the way companies manage and support their people, today announced Compensation Reviews that help People and Finance teams make equitable, streamlined, and secure compensation decisions. ChartHop's Compensation Planning solution and new Compensation Reviews provide a single source of truth for compensation data by pulling in payroll and equity data from across systems.
"This announcement marks a turning point for how HR and finance teams work together to make informed compensation decisions," said Matt Wolf, Chief Financial Officer at ChartHop. "With 78% of CFOs planning to accelerate their adoption of digital tools by 2023, the finance industry is ripe for change. Traditionally, People and Finance teams pull data from different systems that don't talk to each other, easily leading to errors and confusion. Now, Finance teams are empowered with centralized data that allows them to be a strategic partner during compensation cycles and beyond."
ChartHop's new Compensation Reviews transform what is typically a complex, laborious process for HR and Finance leaders. This offering enables organizations to centralize and visualize their people data, configure review cycles based on their unique needs, and collaborate efficiently to make more informed and equitable compensation decisions.
Build tailored compensation review cycles with a guided compensation builder
- Create flexible approval flows to support People teams during compensation review cycles
- Configure compensation bands that include base, variable, different currencies, or equity and tailor them by department, geography, or other categories
- Create multiple, concurrent compensation cycles for different departments and teams
Centralize and visualize people data to make smarter decisions
- Enable managers and merit planners to see performance ratings, equity, compensation, salary history, bands, vesting schedule, and more in one system
- Visualize the impact of compensation changes on overall DEIB metrics, in relation to compensation bands, and the effect on the total budget
- Allocate budget pools to give People teams and managers greater control over budget management
Collaborate across the entire organization
- Reduce the risk of errors in compensation by distributing and consolidating views of different teams
- Develop approval workflows for multiple stages of cross-level approvals, protecting sensitive information
- Facilitate collaboration between HR and Finance teams by providing visibility throughout the compensation cycle
The announcement follows significant milestones for the company over the last year, including the industry-leading free product offering, ChartHop Basic, and the acquisition of people operations workflow builder, Gather. ChartHop also recently welcomed Paul Szemerenyi as Chief Sales Officer, to lead and scale the sales organization.
ChartHop's new Compensation Reviews will be available to all customers in fall 2022. For more information, please visit charthop.com.
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