Hiringplan

The headcount planning tool with built-in market data

4 followers

The headcount planning tool with built-in market data

4 followers

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Productivity

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Startup financial planning

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Hiring software

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.

Launch tags:Hiring•Productivity

Launch Team

Viktor.comAn AI coworker that actually does the work

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LTSE Equity

Maker

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!

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8yr ago

@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 :)

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8yr ago

LTSE Equity

Maker

@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...

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8yr ago

@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.

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8yr ago

Incorruptible by Eric Ries

Maker

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.

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8yr ago

@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.

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8yr ago

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!

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8yr ago

LTSE Equity

Maker

@kinnth Great point on remembering location, we will fix that. We do plan to develop international features, check back soon!

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8yr ago

@kinnth @marceire Tom, wanted to let you know that we fixed remembering of the last location

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8yr ago

Another thing that would be good to surface is how much each role costs in payroll etc taxes, health insurance benefits (where applicable) and similar costs that typically aren't covered in gross salary numbers but contribute to team cost. Will you be adding screens/filters for this? It would be quite informative as % of overall staff-related burn.

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8yr ago

LTSE Equity

Maker

@aexm Hey Anna, We do support a set of 'overhead' values that you can set per department. These include: One-time setup cost, monthly recurring overhead as a percentage of salary, one time recruiting fee as a percentage of annual salary, and annual salary increase. I added a screenshot to the gallery above where you can see how it looks. In the Hiringplan tool you will see these settings each time you create/edit a department. Check it out and let me know if this works for your needs.

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8yr ago

@marceire Oh sweet -- three quick thoughts: 1/ Would be interesting to have this be a company-wide setting that can be modified for departments, locations, etc. You'd inherit the global settings and then have the option to modify at department level. 2/ Over time you could aggregate what expected overhead costs per type of team and location are (e.g. engineering team of 5 in vs. sales team of 3 remote) as more guidance for planning purposes. In other words, what should you be spending vs. what you think you'll spend. 3/ Consider adding a stock grant increase schedule in addition to the annual salary increase targets. In any case, super-cool and a much welcomed upgrade from hastily-clobbered-together spreadsheets.

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8yr ago

LTSE Equity

Maker

@aexm Great ideas Ana, thanks!

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8yr ago

Trainual

Love the concept of fairly evaluating compensation and being thoughtful about budgeting. Does the tool incorporate current team capacity in any way to gauge when to make next hires? Or, how difficult certain positions are to fill, so that you know when to start the hiring process for particular roles?

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8yr ago

LTSE Equity

Maker

@chrisronzio Capacity is something we have been hearing feedback on. Also modeling the time it takes new hires to ramp up to full capacity. Love the idea of indicating typical 'lead-time' for hires. Thanks Chris.

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8yr ago

It looks super interesting! Curious to know if your system helps me see how much *bad hiring* costs me over a period of time. It happens with many teams, and to know how much the bad hiring costs them, should be a welcome differentiator.

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8yr ago

LTSE Equity

Maker

@vingar Hey Vinish, by *bad hiring* do you mean employees that were not successful in the role and had to be managed out?

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8yr ago

@marceire Yes, for instance see https://www.forbes.com/sites/fal... So bad hires do not cost only in terms of salaries and compensation, they are bad for a startup culture too, it impacts the entire team of course, and not only the code or campaign.

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8yr ago

LTSE Equity

Maker

@vingar Interesting suggestion, thanks Vinish!

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8yr ago

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!

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!)

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8yr ago

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Reviews

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!

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!)