Let's talk about merit cycles. Everyone has questions about this complex topic, whether you're a comp newbie or a Total Rewards veteran. So, we rounded up the most frequently asked questions and answered them for you on our blog. Read on for a refresher on all things merit cycles: https://lnkd.in/g3B4ftUG
Pave
Software Development
San Francisco, California 32,084 followers
Plan, communicate, and benchmark your compensation in real-time.
About us
Pave is a suite of real-time compensation tools to help companies benchmark, plan, and communicate compensation.
- Website
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https://pave.com
External link for Pave
- Industry
- Software Development
- Company size
- 51-200 employees
- Headquarters
- San Francisco, California
- Type
- Privately Held
- Founded
- 2019
Locations
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Primary
1 Montgomery St
Floor 7
San Francisco, California 94104, US
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33 Irving Pl
New York City, New York 10003, US
Employees at Pave
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Samuel Reed
Product and Application Security Professional
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Abbas Haider Ali
VP @ GitHub leading Customer Success, Professional Services, Support, and Renewals orgs | Investor | Advisor | Mentor | ex-Twilio ex-Segment
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Vlad Blumen
Founder @Alto; roles @Pave, @Segment, @Asana
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Angela Rao
Rewards Leader @ Drata | Advisor
Updates
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🗣 Calling all Total Rewards Leaders, this one's for you! Total Rewards Live is coming to San Francisco on Sept. 11, and we want you to join us there. This exclusive event is tailor-made for senior comp leaders, and will be full of cutting-edge insights and unparalleled networking. Attend engaging sessions from Stripe, Databricks, Block, Instacart, Okta, and more. Plus, dive into these can’t-miss workshops: - Executive Compensation Planning Workshop hosted by Compensia - New & Innovative Pay Structures Workshop hosted by Infinite Equity - Next Steps After a Job Architecture Revamp Workshop hosted by Nua Group LLC Stay tuned for more exciting speaker announcements, coming soon! Seats are limited, so reserve yours today: https://lnkd.in/gRtHa4TN
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Whether you’re new to the compensation landscape, a seasoned Total Rewards veteran, or just comp-curious, one key concept to understand is salary ranges (aka salary bands). We have all the details you need about salary ranges and why they’re so important on our blog. Take a look: https://lnkd.in/g_47HJ9N
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Pave reposted this
Explore more of the latest 2024 salary and compensation trends in the Redpoint Radar Report (available at redpoint.com/radar) Thanks Matt Schulman (CEO, Pave) and for diving into the data! #salary #workingintech #workinginai #artificialintelligence #siliconvalley #startups #aijobs #venturecapital #redpoint
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Trying to compete for top talent in an ever-changing market? Survey data won’t tell you what’s coming next: it's time to leverage Offer Insights to stay ahead of the curve. Join our webinar on Aug 8 to learn how to get the right offer trends data before you head into repricing season. You won’t want to miss this panel of experts from Pave , Greenhouse Software , and ClickUp. Sign up now: https://lnkd.in/g3ypRGK9
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A few months ago, we sat down with the incredible team at Redpoint to understand the talent market for startups. Today, we're excited to announce the Redpoint Radar report, where we've compiled all of the trends on how AI, equity, and total compensation are impacting how startups are attracting, and retaining, top talent. Check out the free report below, and let us know your thoughts! ⬇
What’s happening with startup jobs and compensation in 2024? Pave CEO Matt Schulman and our fearless talent team leader Atli Thorkelsson spent months analyzing the latest data and compiling the most important trends around hiring, operating, scaling, and retaining talent. If you’re working at a startup or running one, you can check out the Redpoint Radar report on the state of talent here: https://lnkd.in/e4pzYxdJ
Radar: State of Talent Report
redpoint.com
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Multiple data sources leads to better decision making. When it comes to hiring decisions, Pave’s Offer Insights can take your comp strategy to the next level. See the data in action, and explore some of today’s hot jobs: https://lnkd.in/gcsmfCh9 If you’re ready to see more, click the link in the comments to request a personalized demo!
Offer Insights from Pave and Greenhouse
pave.com
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Earlier this week, we launched Offer Insights as part of our Premium Market Data. It’s a game-changer for teams that need better data to support hiring conversations around comp, especially if you’re struggling to close top candidates. If this sounds like a familiar problem, discover more about Offer Insights on our blog: https://lnkd.in/gnGVu8ti
Why You Need to Include Offer Data in Your Comp Strategy | Pave | Data-Driven Total Compensation Platform
pave.com
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How does your company think about rewarding employee performance? Are you more of the "peanut butter" approach, or moving towards a more "pay for performance" model? https://lnkd.in/gmkNEjEZ
Do you actually have a pay for performance culture? Your CFO gives you a set budget–call it $10M across 2,000 employees–for the upcoming merit cycle. How do you spend it? Extreme 1 => a $10M raise all to one individual. Extreme 2 => an equal $5,000 raise to all 2,000 employees. Extreme 1 is not realistic, but it is the far extreme example of a “Pay for Performance” culture. Perhaps one engineer shipped a feature that generated $1 trillion in revenue for the company and the other 1,999 employees took a six-month-long vacation to the Dolomites. You could hypothetically give 100% of the merit cycle budget to this trillion dollar engineer. Extreme 2 is called the “peanut butter” approach. In short, you give the same pay increase to employees regardless of their performance level Neither extreme is likely to be optimal. The right answer for your company is somewhere in between and is contingent upon the desired culture you want to establish. _____________ How does your company compare to the market? Loosely, the market medians Q1 of 2024 according to Pave’s benchmarks were as follows: ✅ 87% of eligible employees received a salary raise (74% of all employees) ✅ 9.2%: median salary raise for those promoted ✅ 4.0%: median salary raise those not promoted who still received a raise Want to actually ensure that your company leans into “pay for performance” while not blowing through your budget? The answer in this context is to give fewer people larger raises. Of course, there are numerous implications to consider from pay equity, optics, and cultural perspectives. _____________ #pave #payforperformance #meritcycle #benchmarks
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It’s here! We’re excited to launch Offer Insights to bring comp leaders the data they need to compete for talent in an ever-changing market. Tune into our webinar with Jeremy Moulton from Greenhouse Software and Jean Carlo “JC” Hoyos from ClickUp to learn more about how you can stay ahead of the curve when it comes to top talent. Reserve your spot today! https://lnkd.in/gWTP4d8V
How to use Offer Insights to stay ahead of the talent curve
marketing.pave.com