This post was originally published on this site
Toronto (Newsworthy.ai) Wednesday Mar 8, 2023 @ 7:05 AM Mountain —
Barley, a compensation management platform that makes it easy for companies to structure, analyze and manage pay, launches today with $4 million in seed funding led by Golden Ventures with participation from Union Capital, an investor collective that includes prominent technology leaders at Facebook, Google, Shopify, and Uber.
Barley is tackling one of the biggest issues facing businesses today: how to make better compensation decisions, which employers feel confident about and employees can understand. A recent Gartner survey found that only 38% of employees understand how their pay is determined. Barley improves the clarity and transparency of the compensation process, helping HR teams and managers make data-driven decisions that result in more equitable pay for all employees.
“Compensation is a company’s biggest expense, but comp management is often treated as a mere admin task. In 2023, companies have software tools for every important part of their business, but pay decisions are still made in scattered spreadsheets and email threads. That leaves leaders wondering if they are missing the big picture and employees questioning if they’re being paid fairly,” said Barley CEO Jafar Owainati. “Barley was built to
