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We’d love for you to watch the video meeting in its entirety — but, if you want the highlights, you can find the notes below.
Leader: Erik Bergman
Participants: Angelica Isaksson, Spirit Rosenberg, Fredrik Brannlund, Derek Miller, Emil Ekvardt
Topic/Theme: Our Salaries and Titles
What do we earn?
Right now, everyone earns the same base salary. It varies slightly from country to country based on exchange rates and other fees — but, it’s roughly 3,000 Euros a month.
This is the base, but everyone earns a percentage of that salary based on their monthly level of commitment. For instance, Angelica works full-time on Great.com and earns the full amount. Derek, on the other hand, works about 40-50 percent on Great and earns roughly 1,500 Euros a month.
The percentages for each person as of February are below:
- Angelica: 100%
- Emil: 75%
- Fredrik: 50%
- Spirit: 50%
- Derek: 50%
Erik is paying everyone’s salary and does not receive any financial gains from Great.com.
Salary based on trust
Salaries are one of the most difficult areas of the organization for Erik. He wants to create a completely transparent salary system — but, he doesn’t know how to accomplish that, yet. He wants to let employees set their own salaries — yet, he’s not sure if that’s even possible.
(See Erik’s comment on salary transparency in Forbes)
There are a lot of questions we need to address when it comes to salaries, and one of the most important questions relates to accountability.
How can we create a salary model that places accountability on the employees?
We’re currently testing that by basing pay on the percentage of work that the employee says they are doing. Erik has to trust that the team is putting in the effort they say they are, and thus earn their salary based on effort and not specifically hours.
What’s the best way to approach titles?
This call also includes a discussion about employee titles. We want to use the phrase “Great at …” as the premise for our titles — but, how do we still communicate the person’s role in the organization?
Do employees want the title to help them build their resume? Are these people even the ones we want working at our organization?
These are a few questions we discuss in detail on the call.