Ravio

“What percentile of the market should we target?” This is a hard question... The answer can differ for every company, changing with their compensation philosophy and hiring strategy. Here's 3 things you should consider when setting your target percentile: 1️⃣ Do you want to hire top talent? If so, in which teams / locations? Some companies want to hire top talent within specific, strategic functions. For an AI company, this could be engineering. An e-commerce company, maybe digital marketing or product. If you want top, top talent in a specific area, you should probably be targeting upwards of the 75th percentile. That means you'd target the 75th percentile for engineering, and the 50th for everywhere else. Some rare companies even decide they want top talent in every hire, so target the 75th or even 90th percentiles across all roles. 2️⃣ What can you afford? Targeting the 90th percentile is a luxury for many. So it’s of course important to establish what you can afford. A good way to start, especially if you haven't already set a target percentile, is to see how much it would cost to adjust your salaries to the market media. Can you afford to pay at the 50th percentile across all roles? If you can afford more, where could you increase target percentiles to gain top talent? 3️⃣ Where are you losing talent? Related to point 1, are you losing talent from specific teams or locations? Even to a specific subset of organisations? Use your exit survey and interview data to see if compensation is one of the key reasons people are leaving. If so, then either you’re underpaying your team vs the market, or you’re benchmarking yourself against the wrong types of organisation. These organisations might be higher paying but not reflected in your benchmarking data. We’ve written up more detail on the basics of salary benchmarking in the blog in the comments. What points did we miss? Let us know!

Diagnosing the root causes of pay gaps goes beyond just numbers on a spreadsheet. It involves unpacking: - Deeply ingrained biases - Uncovering systemic inequities - Navigating through layers of data that can often be misleading Addressing pay equity requires collaboration across teams, but People & Reward leaders are mission critical in affecting change. Ravio makes it easy to understand exactly where pay gap issues come from across the business. With Ravio’s new pay equity product, you can easily identify the root causes of pay and diversity gaps across: - Departments - Geographies - Different team managers Easily benchmark your pay equity metrics to the market, all in the same place. To learn more about our new pay equity product, get in touch with our team!

Delivering reliable, market benchmarks just got a whole lot more global. Here at Ravio, we’ve added 6 new countries to our platform and improved our data coverage across 11 more since the beginning of the year! 🌎 🆕 New to the Ravio platform: USA, India, Australia, Greece, Czechia, and Singapore. 📶 Expanded coverage in: Poland, Finland, Denmark, Hungary, Romania, Portugal, Austria, Italy, Norway, Spain, and Sweden. And that's not all... Stay ahead with Ravio's most comprehensive and global market data. Get in touch today!

Never worry about another tedious data upload again. Now, you can instantly identify pay gaps in your organisation, all in Ravio. Connect your HR system with minimal setup time to immediately generate pay equity insights, including the adjusted gender pay gap and representation. Curious about the methodology behind Ravio’s calculation for the adjusted pay gap? In a nutshell: - For employees performing “equal work” (i.e. all employees working in the same function / level / country), Ravio compares the median salary for women to the median salary for men. - Next, Ravio aggregates each “equal work” gender pay gap through a weighted average. Get in touch with our team to learn more about Ravio’s new pay equity product, and see how quickly you can identify pay gaps in your organisation. Learn more: https://lnkd.in/gzg8Vyuz

The incoming EU Pay Transparency Directive brings a huge wave of change for companies with employees based in Europe. With countries like Sweden already releasing their proposed amendments - and more countries to follow suit - it's essential to stay up to date. Are you aware of the changes your company needs to implement as a result of the EU Pay Transparency Directive? Head over to our blog for all the information you need. The link is in the comments! ⬇ #EUPayTransparencyDirective #payequity

We’re developing our second compensation trends report… and we need your help! 🙏 We’re seeking insights on compensation trends in the European tech industry. Whether you're involved in hiring, setting salaries, or managing rewards, your expertise can help shape our comprehensive analysis. So why not take a few minutes this Friday to share your perspective, and get a head start on understanding how companies are preparing for upcoming pay review cycles? By participating, you’ll be entered for a chance to win a £200 gift card as a thank you for your time! All responses are anonymous, so head on over now! 👇 https://lnkd.in/gNaXDqin #Ravio #compensationreview

Exciting news today – Ravio just launched a new pay equity product.    Understanding your company’s pay equity should be easy for everyone.   But unfortunately for many companies, it’s still near impossible.   Disjointed software, complex spreadsheets, and unreliable data hide crucial insights and hinder companies from making real progress. And with incoming pay equity legislation across Europe, the need for progress has never been more urgent.   We want to ensure fair pay is easier and more accessible than ever – making the path to pay equity possible for all. Get in touch for a personalised demo, link in the comments! 👇

Shoutout to the Raviolis who took part in / supported at the Jumpstart 5k! We won no medals, but we learned some things: 1️⃣ Selling compensation management software whilst running is really hard 2️⃣ As the only Nike-sponsored startup, we think we won best dressed (if that award existed) 3️⃣ With over 1,000 runners, London's tech scene remains strong and fun!

Want to know which countries have the lowest and highest gender pay gaps in 2024? While some European countries outperform others when it comes to gender balance and pay equity, all still have a gender pay gap. 📈 Why? A key factor is a lack of female representation in top positions. Another factor is poor gender balance across certain functions — especially Engineering and Finance, where men still often earn more than women for equivalent roles. Curious to know where your country sits when it comes to pay equity? Check out our pay equity blog. We’ve put the link in the comments!👇 #payequity #EUpaytransparency #Ravio

"Total Rewards matter most when you find the sweet spot of powering sustainable growth – ensuring you are attracting, retaining, and engaging the best talent while still protecting the business from excessive costs.”    A big thank you to Silke Genenger, Head of Rewards, People Operations & Tooling at Storio group for such an inspiring call this morning with the Ravio team!    Silke is the first guest on our new Reward Expert Series, which we’ve launched to ensure Ravio remains best-fit for reward experts, and that our team can stay close to our customers' needs.   As a seasoned Total Rewards expert, Silke shared her story covering how she got into the HR & People space, and her experiences impacting People & Rewards for past companies.    "Expectations of Rewards leaders are shifting away from the administrative – and almost a black and white policing – role from the past. Now, it’s all about having a significantly higher strategic impact using a consulting approach to enable business decisions, and the need for strong internal PR and communication skills.    This also reflects a fundamental shift I look to hire for: as a Rewards person, you need to also become a consultant, a Total Rewards marketing person, and to be visible  – on top of having the technical Rewards expert skills."    On behalf of our team, thank you Silke Genenger for your time and invaluable insight, and for perfectly kicking off our new series! #totalreward #compensation #hrpeople