Louis Beryl's guest appearances

Louis Beryl

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Forward Thinking Founders

Ken Babcock

Zach Coelius

Gino Wickman

Chris Edwards

Michael Parker

Andrew Parker

Jack Altman

Austen Allred

Immad Akhund

Leo Polovets

Jason Calacanis

Daniel Gross

Gaurav Jain

Chris Russell

Isaac Morehouse

OwlTail

 Louis Beryl is the founder of Rocketplace. Rocketplace is a curated marketplace of top-quality professional service providers. Find Rocketplace on Twitter here.   ★ Support this podcast ★

Louis Beryl is the founder of <a href="https://rocketplace.com/" rel="nofollow" target="_blank">Rocketplace</a>. Rocketplace is a curated marketplace of top-quality professional service providers. Find Rocketplace on Twitter <a href="https://twitter.com/rocketplace" rel="nofollow" target="_blank">here</a>.  <a href="https://forwardthinking.substack.com/" rel="payment nofollow" target="_blank">★ Support this podcast ★</a>

419 - Louis Beryl (Rocketplace) On Finding World-Class Agencies For Your Startup

The keys to attraction and retention are transparency and process. Just like having a strong interview structure, Compensation structure is just as critical.  Having clearly defined salary thresholds allows people to be comfortable with your environment while eliminating uncertainty in the minds of your employees. Our guest today: Louis Beryl, Founder &amp; CEO of Rocketplace Louis Beryl is the founder and CEO of Rocketplace, a curated marketplace of high quality professional service providers. A 3x founder, investor, and board member, Louis began his tech career as a partner at Andreessen Horowitz and was also previously a YCombinator Partner part-time. Outside of being an entrepreneur and investor, Louis is an avid cook and has recently been perfecting his homemade pizza. Today we discuss: Benefits to establishing a compensation structure early on 4 step process to building a successful comp plan  Challenge today? Setting a correct compensation structure Disparity in salary Miscalibrated pay system  How to promote and compensate properly  Why is this important to the company? Ultimately compensation to align with the values of the company tighten range of cash &amp; equity  Wiggle room for negotiation Tradeoff flexibility Determine range of percentile before you start ( Netflix 110%) Trade off on higher compensation is a recipe for disaster Compensation is what does NOT determine the level Provides organizational transparency Manage expectations &amp; promotions  When compensation changes, adjustments are across the organization  How do we build a compensation structure into your company? Talk about what values you have in your compensation package People feel that teammates will be paid very similarly   Build compensation Matrix Cash, quality, bonus, etc Determine levels Functional areas Collect data (compensation data) Determines what percentile your organization is willing to pay  Leaders need to define what each level is Interview process at each level Promotion process  Live values through the interview process Adjust the interview process according to the interview  Key Takeaways: Think about what you value Think about compensation in advance Develop methodologies to allow the organization to scale  Guest Contact &amp; Links: Email: louis@rocketplace.com Website: RocketplaceFacebookTwitter

The keys to attraction and retention are transparency and process. Just like having a strong interview structure, Compensation structure is just as critical.  Having clearly defined salary thresholds allows people to be comfortable with your environment while eliminating uncertainty in the minds of your employees. Our guest today: <a href="https://www.linkedin.com/in/louisberyl/" rel="nofollow" target="_blank">Louis Beryl</a>, Founder &amp; CEO of <a href="https://rocketplace.com/" rel="nofollow" target="_blank">Rocketplace</a> Louis Beryl is the founder and CEO of Rocketplace, a curated marketplace of high quality professional service providers. A 3x founder, investor, and board member, Louis began his tech career as a partner at Andreessen Horowitz and was also previously a YCombinator Partner part-time. Outside of being an entrepreneur and investor, Louis is an avid cook and has recently been perfecting his homemade pizza. Today we discuss: <ul><li>Benefits to establishing a compensation structure early on</li> <li>4 step process to building a successful comp plan</li> </ul> Challenge today? <ul><li>Setting a correct compensation structure</li> <li>Disparity in salary</li> <li>Miscalibrated pay system </li> <li>How to promote and compensate properly</li> </ul> Why is this important to the company? Ultimately compensation to align with the values of the company <ul><li>tighten range of cash &amp; equity </li> <li>Wiggle room for negotiation</li> <li>Tradeoff flexibility</li> <li>Determine range of percentile before you start ( Netflix 110%)</li> <li>Trade off on higher compensation is a recipe for disaster</li> <li>Compensation is what does NOT determine the level</li> <li>Provides organizational transparency</li> <li>Manage expectations &amp; promotions</li> </ul> When compensation changes, adjustments are across the organization  How do we build a compensation structure into your company? Talk about what values you have in your compensation package <ul><li>People feel that teammates will be paid very similarly </li> </ul> Build compensation Matrix <ul><li>Cash, quality, bonus, etc</li> <li>Determine levels</li> <li>Functional areas</li> <li>Collect data (compensation data)</li> <li>Determines what percentile your organization is willing to pay</li> </ul> Leaders need to define what each level is <ul><li>Interview process at each level</li> <li>Promotion process</li> </ul> Live values through the interview process <ul><li>Adjust the interview process according to the interview</li> </ul> Key Takeaways: <ul><li>Think about what you value</li> <li>Think about compensation in advance</li> <li>Develop methodologies to allow the organization to scale</li> </ul> Guest Contact &amp; Links: Email: <a href="mailto:louisberyl@rocketplace.com">louis@rocketplace.com</a> Website: <a href="https://rocketplace.com/" rel="nofollow" target="_blank">Rocketplace</a><a href="https://www.facebook.com/rocketplace" rel="nofollow" target="_blank">Facebook</a><a href="https://twitter.com/rocketplace" rel="nofollow" target="_blank">Twitter</a>

The Secrets to Building a Transparent & Fair Compensation Structure with Louis Beryl of Rocketplace