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.
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 buildingCons:
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!)
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.Pros:
Super simple to use and very helpful when you are planning your burn, runway, funding needs and recruitingCons:
Limited geographies for now, but still super useful
I love the idea of being able to track outstanding shares and such but came across a few bugs, such as not being able to add employees pre-2016 and being asked their gender/ethnicity. Also, I had to hack the system to get an advisory board added in.Pros:
Great idea and want to use itCons:
A few bugs and idiosyncrasies
For a startup of our size (~30) employees, Hiringplan and the LTSE tool sets are an amazing value add.
As the Director of Growth, one of my responsibilities is to help forecast the growth of the Sales, Support and Marketing teams.
After playing around with both Hiringplan and Startup Runway, I had to show my teams accountant. Funny thing is, she was so impressed, she had to share the tools with her network.
Not only is the tool gorgeous to see, its great to be able to identify what tools and positions really draw the most resources.
Visualizing the direct and forecasted ROI of both my tech stack and my team is really amazing in how it helps me forecast future requirements.Pros:
-Easy to setup and really intuitive
-ROI Tracking for Employees, Forecasted Headcount, Monthly Burn Rate
-Dependent on Connery Market data
-Standalone application, no integrations as of yet.
Super simple to use and easy to navigate. If you are looking for a quick and easy way to estimate how your comp impacts burn over time, this is your tool.
Benchmarking info is extremely valuable.Pros:
- Simple to use yet robust.
- Solid salary benchmarking info. Great for calibration.
- Graphic representation of spend is very intuitive .Cons:
- Not for the advanced user. If you are an Excel power user you will find it restrictive.
I love Hiringplan!
I regularly meet companies who are too early for our compensation product, Compaas. And I send *every one of them* to Hiringplan.io.
It has a great UI, and is super-easy to figure out and get up to speed. Hiringplan.io is great help for planning your company headcount growth, and I especially love the warnings around equity overspend.
Great data from Connery makes Hiringplan even better, especially for early -stage companies. <3Pros:
Excellent data, easy interface.Cons:
Not every geo represented (but you can still get far with this!)
Have been using HiringPlan since it was first launched. Great team behind the product that is really focused on improving the tools that startups have available to them. If you are just getting off the ground or in the Seed/Series A stage of fund raising, I highly recommend giving HiringPlan a go. Will make a big difference as ensure you have a clear hiring plan moving forwardPros:
Really helps with the planning of startup equity and salary.Cons:
Few features lacking here and there but nothing that I'm sure isn't already being worked on
maybe the easiest way to get competitive comp information for cash and equity based on startup size/stage and localePros:
Super simple to use, great market data, equity calculators are a godsendCons:
Found it tricky to use for scenario planning and tracking business at the same time, but might be my fault
I've been using hiring plan for a while now and it continues to be an invaluable resource for keeping our cap table and burn top of mind when hiring and negotiating.Pros:
incredibly easy tool for quick gut checks on hiring negotiations and headcount planningCons:
connery doesn't cover all positions you might hope to have data on but it's a really solid start
Also great for what-if planning. It would be nice if it could integrate with pmo tools to project hiring needs going forward.Pros:
Clear, concise tool aggregating all the data needed for planning, including external data set such as compensationCons: