By Ana Kirova
Since its inception, Feeld has done things very differently to other companies, including our transparent compensation system.
The concept was simple: create a calculator that considers the employee's work experience, location and industry benchmark compensation for the role. And it worked. An evidence-based model gave visibility and held the key decision-makers accountable. But as we grew the company and the team, we started noticing gaps widening. This was logical considering that the broader job market values different roles with wide variation, but it did not sit well with us.
So when undertaking our annual salary calculator update, we wanted to address that. We had identified that using free data as the market benchmark is not enough and that we needed to invest in getting better and more reliable data. We used a paid service that helped us understand the market better. But that still did not close the gaps.
This led us to the only equitable solution to this issue – to create a baseline salary for all Feeld employees independent from the industry benchmarks.
We knew this was the only way to do this and live by our Human & Progressive values. We want to provide enough compensation for our employees to live meaningful and fulfilling lives, while also rethinking existing systems on compensation and working towards building a human-centred future of work.
We announced this internally a few weeks ago and I am delighted to be able to share the news with the world now.
Hopefully, as the first company to do this in the dating industry, our action will enable a conversation about fair and equitable compensation to take place not only in our own industry but also in the broader employment market.
To read more about the initiative, do visit Time Magazine's piece on the topic.