Digest: Compensation Policy Workshop (Updated)

Digest: Compensation Policy Workshop (Updated)

Meeting Date
October 4, 2023
Event Type
🇫🇷 / 🇺🇸
These tools and resources are related to the 2-hour Compensation Policy Workshops held on the 4th of October 2023 and on the 14th of october 2021 with Sandrine Dorbes founder of How Much.

If you missed it, here are the slides 👇


Key points of the workshop:

  1. Understanding the Importance of Compensation Strategy.
  2. Reflecting on Your Company's Compensation Philosophy.
  3. Establishing Clear Compensation Frameworks.
  4. Prioritizing Budgeting and Planning for Compensation.

1. Understand the Importance of Compensation Strategy

What to do?
How to do it?
Begin by recognizing that compensation is more than just salaries; it's a reflection of company culture, strategy, and growth trajectory.
A well-defined compensation strategy can significantly boost employee morale, retention, and overall company performance.
Regularly attend workshops and sessions, like the one by Sandrine Dorbes, to stay updated on compensation best practices.

2. Reflect on Your Company's Compensation Philosophy

What to do?
How to do it?
Ensure your compensation policy mirrors your company's culture and strategic direction.
A compensation policy that aligns with company values fosters trust and loyalty among employees.
Periodically review and iterate your compensation policy, ensuring it remains transparent and central to employee relationships.

3. Establish Clear Compensation Frameworks

What to do?
How to do it?
Develop a well-defined framework for compensation that ensures consistency, fairness, and alignment with company goals.
A transparent framework minimizes ambiguities, ensuring that employees understand how their compensation is determined.
Regularly review and update the framework, considering potential exceptions and the relationship between performance and bonuses.

Figures × Shine : Creating your first compensation Grid

Remember that your employees can also be remunerated through employee equity. 💸Digest: Setting up your Employee Equity (BSPCEs, ESOPs, VSOPs...)

4. Prioritize Budgeting and Planning for Compensation

What to do?
How to do it?
Streamline the budgeting process for compensation by gathering current salary data and making future projections
Proactive budgeting ensures financial sustainability while meeting the expectations of current and prospective employees.
Ensure your budgeting process is sustainable, competitive, and aligned with company goals by coordinating with the company’s budget and market expectations.