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💡Compensation is a critical component to get right in any company, as it defines the behaviors, capabilities, and qualities that you value and reward. Helping people understand how their pay is calculated and how developing their capabilities can increase their compensation goes a long way to cultivating a culture of trust, transparency, and performance.

Clouding compensation in ambiguity and confidentially creates confusion around what qualities the company is looking for and how people are rewarded. You can remove this imbalance by creating an equitable compensation framework and making it available for everyone.

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Contents

Compensation Framework Example

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Principles

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How people are rewarded plays a significant role in their behavior, motivation, engagement, and ultimately performance. Our compensation principles are an essential element to ensuring the way we pay people is aligned with our values, strategy, and mission.

To do that requires beginning with first principles. Here are our guiding principles for compensation at insideOUT:

Trust

Everything we do at insideOUT begins with trust, establishing an environment where people are treated with respect, dignity, and agency. Applying this to the way we compensate means providing a clear and transparent framework that everyone can understand and engage with.

Partnership

At insideOUT, we are partners, working together to achieve our individual and collective goals. Partnering builds on trust and respect, treating people as professionals with valuable skills, ideas, and perspectives to contribute.

Generosity

We pay above market to attract high-performing team members, and to cultivate strong, small teams that achieve great outcomes together. We believe that when we achieve great outcomes as a team, the rewards should be shared with those who created them.

Equity

We want to create equitable outcomes for each individual. This means we don’t have a one-size fits all approach to compensation, but have built in flexibility to allow for differing motivations and aspirations.

Shared success