Who Is Octave Bioscience?
Menlo Park based and Venture Backed Octave Bioscience stands at the forefront of molecular diagnostics for neurodegenerative conditions. Their signature offering, the MS Precision Care solution, harnesses cutting-edge technology to produce and assess data. This data, rich in multi-dimensional insights, paves the way for a transformative approach to care for those with Multiple Sclorisis.
In response to the State of California’s new transparency pay law, all California employers were mandated to disclose salary ranges for job postings from January 1st, 2023. This created a challenge for all businesses to ensure compliance. The COO & Co-Founder of Octave Bioscience recognized that before disclosing any salaries, there was a need to review and evalute their current employee compensation packages to align with their comp philosophy.
Wearing the dual hats of COO and Head of HR, she understood the significance of this compliance requirement. Having no other internal HR support to meet the deadline, they were faced with having to pull all the existing job postings from their Career Page until they were compliant, creating a slow down on recruitment and impacting growth.
As our clients have always been geographically dispersed, our connection to Melinda was made and from the first conversation, we understood the challenge and were there to help. What was needed was not only someone familiar with benchmarking and compensation but also a partner who had experience operating in the tech space, speaking their language and terminology.
While our Talent Team has experience in various industries, our sweet spot is in working with tech startups and growth companies. Often those are PE or Venture backed. Melinda needed a partner – someone she could build a strong, reliable, and trusted relationship that may ebb and flow over time through dynamic growth.
We engaged and plugged in, openly exchanged ideas around the goals of the project, which included not only the Pay Transparency Compliance but also defining a scalable compensation philosophy which covered job posting compliance as well as equity, budgetary considerations, and retention planning.
This project expanded beyond compensation and pay transparency, providing support with performance management, policy creation and so much more. A perfect partnership for dynamic, on-demand HR needs of a growing company, without having a full-time in-house resource.
While the initial focus of our engagement was the compensation and pay transparency project, our collaboration quickly expanded to areas such as performance management and policy development.
Octave Bioscience is on a mission, and we are proud to be their trusted partner for HR consulting and People Ops.