Feb 10, 2022
Anonymous employee
Deel Response
4yThank you for this feedback. As we build our global compensation philosophy and structure, this perspective is very helpful. Specifically regarding compensation, for startups like us with 3 years of product to market its quite typical that we will not be benchmarking compensation to FAANG. We are benchmarking to pre-IPO companies in technology (fintech and HR Tech) with similar valuation ($5.5B). We need to educate our team more on the benchmarking and how we focus on pay parity across our roles, but we do have regional pay ranges and tiering within those regions based on your individual job profile and where you live. We review our compensation structure and pay ranges multiple times throughout the year to ensure we understand what we have been able to hire and retain people at, where the market is at, and what we are hearing from our candidates. We should expect that as we scale and achieve revenue targets then we will make changes as appropriate.
For equity information, we have actually built several calculators for people to use dependent on the time they joined with the preferred share price, 409a value, and number of options you received so you can see value. We've also created a best in market equity program where each person is granted a new hire grant on start date and is eligible for performance, promotion and evergreen grants going forward with our evergreen grant leading the market at 100% of target for the role you are in at the time of the grant (3 yrs tenure and every 2 yrs thereafter).
We are also actively working to optimize and gain efficiencies in our operational processes. We very much focus on customer obsession but yes, as we scale, we must optimize processes for efficiency and automate manual processes. I hope that you will reach out to your leadership team to hear some of the more recent updates across teams that strategically move us in this direction.