5y
Thank you for your feedback. I am sorry that it didn't work out for you at Spoonflower but I appreciate hearing your thoughts about your experience.
Spoonflower believes in a total compensation and benefits strategy when it comes to pay and managing compensation. This means that we strive to make sure all of the components of employee compensation - hourly rate/salary, short-term incentive, benefits, long-term incentives - work together to create a total compensation plan that is not only competitive but that leads the talent market in which we compete. I know how important base pay is for everyone - it is what pays the bills. The value of your compensation is far more than just your base pay, though, and we try to make sure all employees understand the financial value of all the support we provide. For example, did you know that Spoonflower pays 100% of the medical premiums for employees and their families? This is hundreds of dollars a month that stays in your pocket. And, in addition to that, we pay for about 95% of all medical expenses an employee might incur in a year. So, an individual employee would pay, at most, $550 in a year for all medical expenses. The value of our medical plan is significant.
You are probably aware that we paid a performance bonus to all employees in June of 2020 and are getting ready to pay another one. This is additional cash compensation in your pocket. We recently introduced a long-term incentive plan for all regular employees as well.
Spoonflower takes a holistic approach to compensation, protecting and supporting our employees in many facets of their financial health. Your cash compensation makes up just one component of your total compensation.
Regarding job families, I agree that enabling employees to understand the opportunities available to them at Spoonflower and how they can advance is very important. We are in the final stages of a market study of our operations jobs which will result in the development and implementation of career ladders, with associated pay ranges, for our Operations team. A study such as this one will be done for all of our functional areas.
Your advice is meaningful and relevant and we're already on the way to advancements and development in the areas you have outlined.
We wish you all the best.
