The storied e-commerce pioneer from Ottawa continues to innovate.
Although the typically clever company this year lost a bet that forced significant layoffs, Tobi Lütke and his crew across Canada appear unwilling to be demoralized.
Now Shopify is introducing a new feature for employees to give them more control over how they’re paid.
“Why should a company decide for you how much of your total reward should be in the form of cash vs equity?” Shopify asks, adding that you might “find base salary on your pay stub and equity in another, made even more complicated by vesting schedules, stock-market unpredictability, and unreliable bonuses tied to company performance.”
All of this can combine to “create pretty absurd outcomes, like your lifetime earnings being vastly different if you joined the day after Russia invades Ukraine because of its effect on the market beta,” tweeted cofounder Lütke.
Now through “Flex Comp,” employees “can choose exactly how they want to allocate their total reward,” according to Shopify.
Saving to buy a house? Take more cash. Early in your career? You might want to take more restricted stock units or options. Change your mind? Alter your ratio quarterly.
“Just over two years ago we launched our remote-first, Digital-by-Design way of working,” explains the Canadian fintech giant. “Flex Comp was the next logical build for Shopify to continue building a company for people—based on flexibility and choice.”
According to Tech Talent Canada, flexibility is the most important factor for Canadian tech talent in 2022.
Last month, Shopify launched Collabs, which amplifies solo creators.