Hiringplan

The headcount planning tool with built-in market data

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#3 Product of the DayApril 26, 2018

Standardized compensation helps you plan better, pay fairly and preserve cash and equity runway. That’s why we built Hiringplan.io, a free, easy-to-use headcount planning tool with built in compensation market data.

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Reviews

  • Andres BarretoPartner, Firstrock Capital
    Pros: 

    Super simple to use and very helpful when you are planning your burn, runway, funding needs and recruiting

    Cons: 

    Limited geographies for now, but still super useful

    I'm an entrepreneur turned VC that has always been in charge in setting up compensation plans for my companies as a founder and now as a VC I help my portfolio companies recruit and retain talent, these tools will help me help them better. Super useful.

    Andres Barreto has used this product for one day.
  • Pros: 

    Easy setup, great UX, critical information easily surfaced, tremendously simplifies & shortens a key process in company building

    Cons: 

    If you're building in an area not yet covered by Connery data you'll have to be a tad patient (but you can still get familiar w/ the tool!)

    It took a total of about 4 mins (including account setup) to start thinking of the formerly rather tedious process of compensation planning as actually fun, informative, and a breeze. This is super-useful for all scaling companies as well as for candidates evaluating any offers w/ equity (especially if you're relocating). It easily systematizes levels of comp across the company (this is the hole many scaling cos fall into poorly and start seeing wide variations in comp across different teams).

    I wish I had this at every one of my previous companies and will be enthusiastically putting it to good use. Well done LTSE team!

    Ana Milicevic has used this product for one day.

Discussion

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Marcus GoslingMakerPro@marceire · VP Product, Long-Term Stock Exchange
Hey Product Hunters, Most startups 'wing it' on compensation until after their first or even second priced round. Salaries and option grants are often sized by negotiation, headcount planning and budgeting tends to be reactive, and serious problems with cash/equity runway or unequal pay often creep in. Our new product Hiringplan is a free headcount planning tool with built-in compensation benchmark data - we teamed up with industry leaders Connery Consulting to offer the first high-quality compensation dataset that is openly available and free of charge. Hiringplan enables startups of all sizes to adopt standardized, market-based compensation, plan and budget more accurately, preserve runway, simplify salary negotiations and monitor for under representation or unequal pay. We hate spammers and privacy abusers too. Please find our privacy policy here. https://ltse.com/tools/privacy Interested in our other tools for company builders? https://ltse.com/tools We’ll be checking this page all day, so please share your comments, product reviews and feedback. 🍰 Cheers!
Andres Barreto@andresbarreto · Partner, Firstrock Capital
@marceire I just gave it a quick try and it is an amazing tool! Can easily replace the hiring plan spreadsheet I've used for years. A few questions though: The salary benchmarks are super useful and I understand that's based on market data. Is this the same for equity? Does the equity portion also take into consideration the stage or valuation of the company? Thank you for building this! It's a great complement to this https://www.producthunt.com/post... And a great substitute to my spreadsheets :)
Marcus GoslingMakerPro@marceire · VP Product, Long-Term Stock Exchange
@andresbarreto Thanks for your question, yes the equity component is also derived from market-data. There's more info about our data partners Connery Consulting and their dataset in this post: https://tools.ltse.com/data-by-c...
Tihomir Bajić@tihomir_bajic
@marceire @andresbarreto Thanks for trying Hiringplan. Equity data is also based on market data. All of the Hiringplan salary and equity data is keyed on four categories: location, stage, role and level. Company stage category denotes the series of funding like Seed or Series A/B/C/D/E (you select that when you're creating your scenario) and it is not based on the company valuation or the total amount of financing raised.
Eric RiesMaker@ericries
Thanks everybody for your support. Looking forward to hearing your feedback on Hiringplan. Software is core to our mission at LTSE, and Hiringplan is the latest addition to our software platform. As founders, we’re responsible for being good stewards of our resources. Comp is one of the most important decisions a founder makes because most of our funding, and a significant share of our equity, is used to hire and retain our teams. In my own startup career, I’ve seen the value of adopting a consistent comp philosophy from the beginning, and Hiringplan.io allows you to do that with standardized, market data. Plus it’s free! We hope you’ll give it a try and let us know what you think.
Amr Shady@amr_shady
@ericries We can promote Hiringplan for free for the seed and series A startups that complete our VC matching report. Please check https://www.aingel.ai and let me know if interested.
Ryan HooverPro@rrhoover · Founder, Product Hunt
Great idea. A first-time founder recently asked me for compensation advise. While every company is unique (especially those distributed), it's important to setup fair compensation from the beginning. A big mistake some people make is overpay specific individuals which can create major imbalance across the team.
Tom Kinniburgh@kinnth · Mobile Guru, Founder, Gamer
Great idea, really nice and easy to use. 1. Could it please remember your location based on your last employee selected? 2. Coudl you allow regions outside of the US (i'm in London, UK) 3. Could you also allow £ instead of $ Internationalizing it or at least allowing people to customize it if they are non-US would be so useful!
Marcus GoslingMakerPro@marceire · VP Product, Long-Term Stock Exchange
@kinnth Great point on remembering location, we will fix that. We do plan to develop international features, check back soon!
Tihomir Bajić@tihomir_bajic
@kinnth @marceire Tom, wanted to let you know that we fixed remembering of the last location
Alexis OhanianPro@alexisohanian · Co-founder, Initialized Capital, Reddit
I continue to be impressed by what Eric and the LTSE team has been shipping to help founders. The software isn't just useful, it's beautifully designed, too