We are all familiar with the struggles that can come with finding a new job. First, you have to choose a position and company, among the many alternatives out there in the marketplace. Once you made a selection, the long exhaustive selection procedures will take place. At the end, hopefully some of the companies you selected are willing to hire you. However, how do you really know what the best company to work for is? From the outside, a job may look perfect, but many factors, such as work culture and compensation, will only become apparent once you actually start working there. Luckily, Comparably offers the perfect solution to until recently still non-transparent market.
Comparably was founded in March 2016 by Jason Nazar, Yadid Ramot, Mike Sheridan & George Ishii. The founders were aiming at disrupting some of the many technological HR and job search tools by anticipating to the increasing demand in transparency in both culture and compensation within the working environment. Their online platform allows employees to anonymously report their salary, experience level, company location, company size and other aspects. In return, the platform automatically displays where the employee ranks compared to their peers with the same experience level and job position (Comparably, 2016).
Clearly, there are several other major players in the market that offer online HR and job search tools. The biggest competitors of Comparably are LinkedIn and Glassdoor, but Comparably is aiming at cracking the market for business intelligence dominated by Glassdoor and breaking the chain that LinkedIn has wrapped around the job-hunting process for HR professionals (TechCrunch, 2016). While LinkedIn is focusing on ongoing relationships with employees across their careers, Comparably offers a dashboard for (primarily already employed) would-be job seekers looking for a change. And Glassdoor offers analytics for employers, but what gives Comparably a competitive advantage is that the platform offers the ability to sort employees by gender, location, race and time spent at the company. In addition, Comparably beats competition by providing insights on areas where your company could improve (Comparably, 2012).
Business Model Evaluation
The workplace culture review platform serves as social enterprise which survival depends on the added value for both ends of the platform. The two-sided network delivers joint profitability by allowing employees on one side to publicly rate their companies and see how much their peers are getting paid and on the other side, offering companies a variety of HR related tools. For employees and job-seekers, Comparably offers the advantage of having detailed rankings of a company’s culture (including very sensitive topics as discrimination and harassment). For employers, the platform is assisting with recruiting a better workforce and providing opportunities to see how their company culture is ranked and how this can be improved.
Although Comparably only employs 12 people, the platform supports over 1500 companies, including AirBNB, Twitter, Uber, Paypal and Netflix. Each company owns its own corporate profile page and maintains it as a manner to communicate with potential job-seekers. For now, the tool is free to use for employers and Comparably’s business model is dependent on investors. However, the company has plans to change this in the future (Nazar, 2016).
Considerably is an innovative company which raised over $12M in financing and is extensively covered in press by e.g. TechCrunch, LA Times and Fortune Magazine. The company was launched in March 2016 with a compensation data tool and 2 months later already added candidate matching, job postings and a company review feature. With their latest addition, their culture analytics dashboard, Comparably captures a huge competitive advantage and has the ability to defeat competition. / blow competition away.
Carson, B. (2016). The 27 best startups that launched this year. From: http://www.businessinsider.com/top-27-startups-launched-in-2016-2016-12?international=true&r=US&IR=T#nucleus-is-reinventing-the-intercom-19 [Accessed 7 March 2017].
Carson, S. J., Devinney, T. M., Dowling, G. R., & John, G. (1999). Understanding Institutional Designs Within Marketing Value Systems. Journal of Marketing, 115-130.
Comparably (2016). Find Your Ideal Company & Compensation. From: https://www.comparably.com [Accessed: 7 March 2017].
Crunchbase (2017). Comparably. From: https://www.crunchbase.com/organization/comparably#/entity [Accessed: 7 March 2017].
Dickey, M.R., (2016). Comparably’s new tool lets companies see how their culture stacks up against the competition’s. From: https://techcrunch.com/2016/12/15/comparably-culture-analytics/ [Accessed 8 March 2017].
Shieber, J. (2017). Challenging job search and HR giants, Comparably raises $7.25M. From: https://techcrunch.com/2017/01/31/challenging-job-search-and-hr-giants-comparably-raises-7-25m/ [Accessed: 8 March 2017].
Tsekouras, D. (2017). ‘Lecture 1: Introduction to Value Co-creation. Customer-centric Digital Commerce, Rotterdam School of Management [Accessed: 7 March 2017].