A compensation philosophy is essentially an organisation’s approach to compensation as a whole. So, the way we think about compensating you through pay, benefits, bonuses & equity.
The goal of [X Company]’s compensation philosophy is to give you a transparent and thoughtful framework for understanding how your compensation works..
We want our philosophy to be:
At [X Company] we want to fairly compensate you for the work you do. Here’s what we offer you:
Our pay philosophy is [market pay / flexible pay / equal pay / performance-based].
We offer bonuses to eligible employees as a way to incentivise high performance and reward achievement of key business goals.
We want you to grow as we grow.[X Company]. We recognise that it’s your everyday actions that lead to our success, this is why at [X Company] we offer:
RSU’s / Stock Options / Stock Options & RSU’s
As part of your total compensation package, you get:
All compensation decisions are made by [decision maker(s)]. Factors like education level, qualifications, experience, level, location and skills can affect how you are compensated.
We’ll review our compensation policy [annually / twice a year] to make sure we stay competitive & fair.
Your compensation will be reviewed [annually / twice a year] to account for any market changes, inflation, or cost-of-living changes.
We also conduct a pay equity audit [X times a year]. This is to make sure our compensation stays equal and unbiased.