This review is meant to ensure that each team member’s compensation stays competitive. They are to be seen not so much as “raises”, but more as paying staff at the top of their personal market. The market for talent is what it is.

Note that for significant role changes/promotions, the compensation is updated once the new role moves from Interim to confirmed.

Frequency

Every 12 months, with a minor review cycle every 6 months to fix anomalies.

When

Each cycle happens at the same time as the Bi-annual performance review: Bi-annual performance review: How, see the dates at which point managers start to look into this topic:

Start	Cycles
January 15th	Yearly compensation review
July 15th	Market check-in

Eligibility

People who joined less than four months ago are not eligible.

Cycles

Yearly compensation review. This starts to take effect from the 1st of February. Depending on how fast we do the feedback cycles.
Market check-in. This starts to take effect from the 1st of August. Depending on how fast we do the feedback cycles. Most people won’t get an increase at this point, it’s meant to keep the compensation in sync with the market when we can’t wait for the yearly review (6 months later). Eligible staff is those who are (close to) exiting their pay bands:
- Their performance factor moved to "Exceeding expectations” in the last performance review cycle There are 4 different Signals possible for each cycle: If this level of performance has been achieved reliably, per Signal factor, it should lead to an increase in compensation.
- Their “Rate $ /Formula” has fallen below 0.85 (regardless of performance).

Process

@Ops Forecast at total increase budget for the next cycle available.
@Manager Have the level and signal up to date in HiBob for the person.
@Manager Reviewing each part of the Compensation formula:
- Get the signal factor using the last feedback cycle from: There are 4 different Signals possible for each cycle:
@Manager Send an email to [email protected] with the proposed new rates for your reports.

As a manager, you need to provide:
- Include both hourly rate & base salary.
- The latest Level and Signal
- The formula you used to reach the new proposed compensation
@People or @Olivier Tassinari: add the data submitted by the manager in ‣
@People and @Olivier Tassinari: discuss the proposed rate with the manager until an agreement is found. It needs to fit with the paybands, etc.
@Manager Reaching out to the person to present the new proposed compensation. We wait a bit.