Introducing Figures Salary Bands, your ultimate compensation framework

November 21, 2023
min read


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Introducing Figures Salary Bands, your ultimate compensation framework

Tired of managing your employee salary bands on complex DIY spreadsheets with multiple tabs?

Messy manual calculations on Excel are prone to errors, not to mention that it quickly becomes obsolete as those sheets aren’t connected to your HR systems with your latest employee data… Resulting in spending countless hours of your previous time updating your spreadsheets, cell-by-cell. Urgh. 

And once you’re finally done?

Here comes the worst part: sharing your bands with managers and recruiters with multiple versions of tabs per team or jobs shared individually with stakeholders. It’s a time-consuming, error prone and unsecure process. 

With the rise of US & EU Pay Transparency legislation that will require companies to disclose information that makes it easier for workers to compare salaries, and notably in job descriptions, it’s time for all companies to adopt a more efficient, scalable and ready to be compliant compensation process.

Looks familiar? Keep reading to escape the nightmare of banding on Excel.

So, we talked about the problem, now it's time for the solution...

We’ve worked with our customers and Compensation experts to build an intuitive and easy solution for all Comp&Ben and HR leaders to help them manage their bands like a breeze. 

That’s why today we’re super proud to announce that we’re launching a brand new product module: Figures Salary Bands, alongside our Benchmark Market Data tool. 

Meet Figures Salary bands

What is it? A simple & efficient solution to build, update and share your Salary Bands using Figures.

Figures’ Salary Bands tool enables companies to define clear and concise salary ranges across their entire organization to promote pay fairness, help attract and retain talent.

Already trusted by successful businesses across Europe: 

- Bastian Heisler, Team Lead People at Eduki

Keep reading more about how you can use Figures Salary Bands below.

Automate bands generation based on real-time Market Data in a few clicks.

Create your bands in minutes, not months. And yes, we timed it 1 minute flat, see it for yourself: 

  • Enjoy customizable and flexible salary grid structure to fit your comp philosophy and company size.
  • No messy calculations, Figures is taking this tedious process off your hands and provides you with expert guidance.
  • Huge amount of time saved: once initial configuration has been done, bands are created in a minute. 
  • Always accurate and competitive, in line with your comp philosophy, the market and your current employee positioning.

Your bands, your way. Easily edit your bands and ensure they are always up-to-date.

Easily rearrange your bands with visual guidance and market data.

Once your bands are generated, you can make the necessary adjustments in just a few clicks: 

  • Tailor your ranges’ market position, width and overlap through your visual playground to effortlessly simulate different banding scenarios
  • See where each employee position into your bands and prioritize appropriate adjustments.
  • Have real time updates (newcomers, leavers, promotions) from your HRIS, ensuring your comp info is always up-to-date.

Collaborate and get full visibility to drive efficient and fair comp decisions across your org.

Securely share your bands with team managers and recruiters.

You’ll then be able to activate them on Figures and your bands will become strong compensation foundations to empower all team managers, Finance and recruiters and enhance collaboration across the organisation: 

  • Your comprehensive overview that can be shared securely as reference to recruiters and managers.
  • Build trust with employees and get buy-in from managers and leadership
  • One single centralised source of truth to empower the whole company for fair pay. 
  • Better budget planning for hiring plans and salary raises.
Drive fairness and constructive compensation discussions with employees thanks to the most efficient and compliant way to attract and retain employees, switch to Figures Salary Bands today. 

Additional resources

Check out these resources to become the salary bands expert in your team:

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