When choosing a job, there are a lot of things to consider - from the benefits you would receive, to that company’s culture and its purpose. And there is nothing better than joining a company with whom you would like to grow together with.
After all, if Lightyear is striving to optimize Lightyear One as much as possible, you can bet that, behind the scenes, we are also striving to optimize employee motivation to the same level.
So let’s explore together our reward system and the most recent changes in the salary and benefits package.
Tangible and Intangible Rewards
When a company evolves, so do roles and responsibilities. Although Lightyear started from an internal equality-based system (where age and background played the main role), we moved to a function-based salary system (focused not only on internal equality, but on external comparisons, as well).
By achieving more recognition, Lightyear got closer to competitive salaries and people started feeling less financial insecurity. This way, they could focus more on our Intangible Rewards.
We are excited to see that employees believe in our mission and our vision, and, by having a function-based salary, they are free to follow their hearts, our culture, and develop technology that can change the world.
Now, let’s talk about Tangible Rewards. And for this, we need to first explore a few HR terms.
Lightyear uses a Hay level system of salary. At this moment, Lightyear uses 14 levels of salary, from 10 to 23, and, depending on your knowledge, problem-solving skills, and accountability, you will be assigned to a Hay level. Once here, your maturity and proficiency will rule the salary within that level.
In March 2021, Lightyear succeeded in aligning with the market by increasing the salaries to a more competitive level. Not only that, but Lightyear also added a share package for every employee.
This way, the full package became competitive in the market, while keeping our eyes on the prize: to help fulfil our mission.
Being Paid in Lightyear Certificates of Shares
The easiest way of explaining this is through an example:
Before March, an engineer on Hay level 15 would receive a monthly gross salary of €2,864 (80% of €3,580).
But, since March, this engineer would receive a monthly gross salary of €3,401 (95% of €3,580), while receiving compensation of €716 (20% of € 3,580), worth certificates of shares.
Keep in mind that the 80% and the 95% are a percentage of the competitive salary.
So, basically, although the cash salary might be slightly below competitive, once you add the certificates of shares you receive monthly, your total reward package will be above it.
Other Lightyear Contract Benefits Recap
You can find here other great things that wait for you at Lightyear:
If everything you read got you hooked, wait no longer and join our awesome team! After all, we still have a big mission to live up to, and, with your help, we can reach it in no time.