This template is all yours now, feel free to duplicate and play with it, improve it, and pimp it, as you see fit! And if you want to share your brand new compensation policy with us afterward feel free to send it to [email protected], we’d love to see what you’ve done with it!
<aside> 💡 What are your main beliefs about compensation?
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<aside> 💡 Why do you think this philosophy is the right one for you? *- How does it align with your company’s values?
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<aside> 💡 Each company has their way to levels, what’s yours? If you’re using a leveling framework, no matter how it works, it’s time to explain it to you team: what’s the core structure (invidual contributors vs managers, main definitions, etc.)? How do you assign a level to someone (at hiring time, during promotions in case of internal mobility)? If you don’t have a leveling framework in place but would like to, you can check out Figures Leveling frameworks and how to.
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<aside> 💡 How transparent do you want to be? This is the moment you’ll ask yourself if you want to communication only on the compensation policy, or if you want to go beyond that and also communicate on your salary grids/ranges. Next step will be to define is this doc is internal only or also external. If you’re using salary grids and decide to communicate them, explain how they work, give a simple concrete reading example, and link them here. Avoid duplicating them, it will only be another place to maintain them, and you don’t want it become outdated too quickly!
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