Hello friends,

Since you heard from me last I’ve been in the midst of winter's grip here in Brisbane. But we’re starting to get glimpses of spring already, which is always exciting and energising. I say winter’s grip sarcastically—day time temperatures in the Sunshine state consist of 22°C (71°F) 🏖️ Almost beach weather.

So far, the reception to this series has been so encouraging—so much so that, on hitting send, we’re already over 500 subscribers since our intro edition last month. Proud moment 😊 

I’ve also been heads-down recruiting some of the most exceptional guests for the upcoming editions of the FNDN Series. Here’s a little teaser of what’s to come:

• A startup Founder who has led extreme pay transparency in a globally distributed, 300+ person company;

• A deeply experienced startup CPO, now COO of a globally distributed tech company;

• A prominent thought leader on employee equity from the leading cap table management platform; plus

• Heads of Rewards, Heads of People and CPO’s from some incredible brands all just itching to share their startup compensation journeys and lessons.

I cannot wait to record these sessions let alone share them with you. If you’ve got a question you think would be great for any of these guests—let me know.

With that said, I’m beyond excited to share the first ever interview for the FNDN Series. This interview features someone who has been part of some incredible startup journeys, and is now helping make more of them from her vantage as Head of People at prominent Australian VC, Airtree.

THE STARTUP COMP PLAYBOOK

with Jess Blomfield, Head of People at Airtree

In our inaugural FNDN Series interview, I had the privilege of speaking with Jess Blomfield, Head of People at Airtree, where she shared her journey from chemical engineer to academic, to the forefront of VC-backed tech startups.

We covered:

• How compensation differs between startups and VC’s

• Critical comp considerations for Heads of People

• What startups across the portfolio are getting right

• The common compensation stumbling blocks

• Trends and patterns in startup compensation

• How VC’s see, and can support, startups with their compensation

• Considerations for the path ahead

• How the Head of People can hone their compensation skillset.

We discussed key differences in compensation practices between startups and VCs, and the innovative use of employee share programs and carried interest. Jess provides valuable insights into what makes compensation strategies effective in fast-growing companies, along with common pitfalls to avoid. Don't miss out on her expert advice—catch the full interview and gain valuable perspectives for your own organisation.

Some takeaways

• Two places startups can really differentiate in their total reward practices when they find it hard to compete on cash are:

  1. how they put their culture on display to attract and retain, contrasting cultural strengths and company mission against typically stale corporates; and

  2. more closely tying performance to reward, being the company that attracts doers, facilitates rapid growth, and rewards it.

• The quote that resonated the most: “in software companies in particular, often salaries are the biggest cost on the balance sheet. So how can you be the custodian of that line item such that you're aware of it, and you have a sense of where the levers are to control it”. It’s critical to be deeply familiar with this cost, and not only what drives it, but what it is driving.

• And lastly, advice that is universally true of the Head of People role: if you don’t know, ask. Ask your VC, use your network. More and more, your people will be speaking with their colleagues and others about pay, do the same and speak to others about pay practices and how you can leverage them more effectively. Your network is a strength in this respect.

Read the full interview here, or watch it on YouTube or Spotify.
You can find Jess on LinkedIn.

If you ever want me to cover a specific topic or would like to nominate a guest, hit reply to this email.

TOOLS & RESOURCES

The Ultimate Startup Compensation Cheat Sheet: What You Need to Know About Compensation as a HoP

For the Head of People at a startup compensation is a superpower. By developing this skillset, you can become a truly commercial leader for your business. Here’s the key terms you should know, and how to use them.

Here’s some of the stuff we found interesting this month.

That’s all for this week.

Sure, this is technically the end of the newsletter, but we don’t have to end here! I’d love this to be a two-way chat, so let me know what you found helpful, any successes you’re seeing, or any questions you have for me.

Sharing is caring. If you are enjoying our newsletter, others might too — forward this on to them and get their endless appreciation.