Compensation Mindset & Strategy with Thanh Nguyen & Cyrus F #53

This ELC Hiring Summit special feature dives into compensation! We cover where you should start with your comp strategy, how to create consistency/transparency in your program, competing on comp/equity at the early stages, how to consider geography, and when you should bring in external support with Thanh Nguyen (Founder & CEO @ OpenComp) and Cyrus F. (GM/SVP @ Hatched Labs). THANH NGUYEN, FOUNDER & CEO @ OPENCOMPThanh has spent the greater part of his decades-long career partnering with founders and investors on compensation and HR strategies. He is a leading expert in his field and has helped thousands of tech companies, including Airbnb, Figma, LiveNation, Lyft, Uber and many others. As founder and CEO of OpenComp, Thanh brings to market a solution that combines his experience with powerful data and technology to help companies get compensation right and pay employees fairly. Before joining Connery Consulting, Thanh led Rewards at Salesforce.com where he remained for 9 years, spanning domestic and international HR and Talent leadership roles. CYRUS F, GM/SVP @ HATCHED LABSCyrus claims to have dabbled in the software development space since the first bubble. He's the GM/SVP at Hatched Labs - a globally distributed group of crafters. He recently achieved the distinction of Assistant Cofounder to the Adventure Council®.He doesn't have any venture capital, he owns no equity and he's not on social media. He looks up to his three and three-quarters-year-old daughter who's already acquired four unicorns." SHOWNOTESWhere to start with your compensation strategy (1:30)Consistency in compensation (5:00)Transparency in compensation (7:13)How to think about DE&I proactively in your compensation strategy (8:57)How to compete on comp & equity in an early stage company (11:34)How to consider geography with your hiring/compensation strategy (16:53)When to bring in external support for compensation & hiring (20:13)Once you’ve established a compensation strategy, now what? (22:15)How to minimize differences in expectations on compensation for a role (24:07)How should you decide to globalize or localize compensation? (26:28) BROUGHT TO YOU BY...Special thanks to our exclusive accessibility partner Mesmer! Mesmer's AI-bots automate mobile app accessibility testing to ensure your app is always accessible to everybody. To jump-start, your accessibility and inclusion initiative, visit mesmerhq.com/ELC Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.