If you think you don’t have a compensation strategy, we have bad news. You do have one. It’s probably doing a terrible job. It makes your company less competitive. The message it sends to employees is: this doesn’t matter. It says that in your organization, their compensation is not a first-class concern.
The good news is, you can start fixing this today. As a startup founder or CFO, you don’t take an ad hoc approach to engineering or sales. The care and thought you put into these processes becomes part of your company’s competitive advantage. Compensation strategy just means being as thoughtful about employee compensation as you are about the rest of your business.
There’s no one right way to pay. What and how you pay is your company culture, just like what you make and who you sell to.
Compaas Compensation Strategy
- Compaas provides a consistent organizational view of total compensation, including equity.
- Get up-to-date visibility into the impact of decisions as your company grows and changes.
Consistent organizational view
- Compaas pulls all the relevant data – salaries, job grades, salary bands, option grants, vesting schedules, functions, managers – into a single view of total rewards.
Up-to-date visibility into the impact of decisions
- First, identify problem areas and possible solutions. For example:
- Managers who have employees vested over 75% of their equity may need support to help retain their employees.
- Every company has some outliers when it comes to salary bands. Make sure you know yours.
- Then, track the effects of changes you make over time. Review compensation on a regular cycle to keep employee incentives aligned with company goals.
Try Compaas Now
What you pay tells employees and the world at large what you value. Therefore, compensation is communication. A thoughtful and intentional compensation plan can help you hire and keep the employees you need, even in very competitive markets for talent. One you’ve hired them, it can ensure that their interests are aligned with the company’s. Get started with compensation strategy today.