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Thank you for your review. You touched on several topics, so we’ll try to address each of your points as well as possible.
First of all, we are super committed to our team's development, which is why we run our HiGrowth feedback process twice a year. This process provides dedicated time for employees and managers to discuss and create a plan for growth and career development. We also recently introduced two new job levels (Senior BDR and Associate Account Executive) to enable more mobility within the sales department. We are incredibly proud to have promoted two BDRs to the Associate AE role in January under this model, and we have a similar growth pathway within the Customer Success org. Long-term, we also plan to build cross-functional career paths, but we haven’t reached the stage of business maturity to support this model just yet.
While we wish we could promote all of our top performers, business needs and budget sometimes impede our ability to promote all those who deserve it. This is especially true under the current market conditions. However, we are big believers that skills training, leadership development, and job enrichment can be as meaningful to employees as promotion, and we’ve invested heavily into these types of programs to keep our Bobbers engaged, motivated, and learning. Those who are promoted here are vetted carefully both for their individual performance contributions as well as their leadership qualities and alignment with HiBob’s values.
To your point about compensation, you’re correct that we don’t offer discretionary bonuses to our salespeople. Our sales compensation model, like most companies in our industry, consists of a base salary, commissions, stock options, and SPIFFs. Our sales compensation plan also applies accelerators for Account Executives who overachieve against their quotas.
And to your final point, you’re absolutely right. We have implemented many new initiatives in the past year. Our business is changing fast, and so we’ve needed to shift quickly to ensure our long-term success. We know this can be painful in the short-term, and we do our best to minimize the impact on our people, but we can always do better. In conjunction with these strategic initiatives, we’ve also had to say goodbye to several members of our sales team. None of these decisions have been made lightly, but performance metrics and business needs have been at the root of all our actions.
