<aside> 💡 The topics covered in this chapter apply to internal employees of Remote. That is, someone who is working for and at Remote. Changes to the compensation philosophy is made by the internal Compensation Committee, which consists of: CEO, VP of Finance, Director of FPA, Total Rewards Team and the VP of People.
Table of Contents:
Remote's Total Rewards philosophy is to ensure fair, unbiased compensation and fair equity pay along with competitive benefits in all locations in which we operate. We do not agree to or encourage cheap-labor practices and therefore we ensure to pay above in-location rates. We hope to inspire other companies to support global talent-hiring and bring local wealth to developing countries.
We foster an open and transparent environment at Remote and are always open to conversations from our employees regarding compensation. Please reach out to our Total Rewards team or our VP of People should you wish to engage in a conversation regarding compensation.
We specifically refer to Total Rewards so as to include statutory benefits, supplemental perks (in the locations we are able to offer this) and our global benefits and perks including working in a remote-first organization.
The People Team implemented a paid compensation data application called Kamsa. We are now working closely with Total Rewards Team, management and Kamsa to level and benchmark every position at Remote and will also complete a fair pay and equity analysis during this time.
Although Remote aims to be transparent about compensation benchmarking, we might not be able to do so publicly, considering we are paying for compensation data and our Vendor agreement may not allow this.
Remote currently does not offer global pay aside from Director levels and above which are benchmarked at min. 80% of a Global US rate. For the rest of our population, we are using several factors when we make a compensation decision at hiring or during an increase/review process.
<aside> 💡 Interested to learn more about Kamsa as our compensation source, the size of their database and processes used to prepare benchmarking? 🤔
<aside> ⭐ Important to note: When a salary benchmark is provided by Total Rewards for new hires, pay increases, and promotions, we take a global approach (that is also aligned with the market data that we benchmark against) to consider & include all mandatory allowances & bonuses (such as the 13th and 14th-month salaries) in the gross annual compensation amount. This is because the market data that we use has already included these additional allowances within the benchmark. Therefore, for payroll purposes and for employees to know, these allowances and bonuses should not be added on top of the benchmark provided, and instead, the salary benchmark provided should be considered as base salary + mandatory allowances.
Examples of mandatory allowances included in the benchmark: