Transform Awards Winner Spotlight: Compt

Welcome to the Transform Awards Winner Spotlight Series, celebrating innovation and leadership in reshaping industries and workplaces globally. These awards commend both individuals and companies who are at the forefront of transformation, setting new standards and challenging the status quo. Recognized for their people-centric and visionary approaches, our awardees are the global changemakers pioneering advancements in business, entrepreneurship, and beyond. This series shines a light on their achievements and the impactful ways they’re moving the world of work forward.

About Difference Maker: Social Impact Initiative of the Year

This award recognizes the company with the most forward-thinking approach to total rewards. It includes a compensation, equity, benefits, and perks package that reflects the true value it places in its people.

About Our Transform Awards Winner Compt

Compt, founded in 2018, is where companies empower employees to create personalized lifestyle benefits they’ll use, understand, and even talk about, whoever and wherever they are in life. HR teams praise our products for removing the heavy administrative burden. And finance teams? They’re impressed, too. Attracting, retaining, and awarding exceptional talent means removing barriers to inclusion and equity for any life stage or locale. So, we offer a customizable reimbursement system for stipends, rewards, and expenses, all wrapped up in a sophisticated but easy-to-use tax-compliant platform. Essentially, it’s the smarter, dare we say, better way to handle employee benefits, satisfying both the personal and pragmatic needs of your business and your people. 

Let’s hear from Compt’s Founder and CEO, Amy Spurling, why their social impact program is award-winning.

Initiative Background

Q: What is a brief description of Compt’s award-winning Total Rewards initiative?

A: Compt’s total rewards strategy is a holistic and innovative approach designed to address the diverse needs of our employees. It encompasses competitive and benchmarking compensation, equity ownership, comprehensive benefits, personalized perks, professional growth opportunities, transparent communication, and a strong emphasis on employee wellbeing. This initiative, we believe, stands out for its flexibility, personalization, and commitment to supporting everyone’s professional and personal lives.

Q: How does this initiative impact workplaces, team cultures, or communities?

A: This initiative has a profound impact on creating a supportive, inclusive, and empowering workplace culture. It promotes a sense of ownership among employees, enhances job satisfaction, reduces burnout, and fosters a strong sense of community and belonging. By prioritizing well-being and personal growth, Compt helps set new standards for what a positive and healthy work environment can look like.

Initiative Journey

Q: What inspired the creation of your Total Rewards initiative?

A: The initiative was inspired by our recognition of employees as our most valuable asset and our commitment to their holistic well-being. We aimed to go beyond traditional compensation models to genuinely support our employees’ diverse needs and life goals. We also saw an opportunity to redefine what it means to support employees in every company genuinely. The more we listened to personal stories and understood varied life circumstances and aspirations, it became clear that a one-size-fits-all approach to rewards was inadequate for fostering a truly inclusive and supportive culture. We were inspired to develop a program that addressed the whole spectrum of employee needs at any age and life stage, including financial, health, personal development, work-life balance, and so much more.

Q: How does this Total Rewards initiative align with your company’s mission and vision?

A: Our Total Rewards program is a direct reflection of Compt’s core mission of balance and belonging – to create a workplace that champions diversity, inclusivity, and personal growth. It aligns with our vision of being a leader not only in our industry but in creating a progressive and supportive work environment, period. By putting our employees’ wellness at the center of everything, we’re not just investing in their futures, we’re investing in the future success and sustainability of our company. 

Q: What were the biggest challenges your company faced, and how did you all overcome them?

A: Implementing such a comprehensive initiative comes with a unique set of challenges, but because we’ve been doing this since our inception it has been an integral part of our foundation. We always ensure to balance financial sustainability with the broad scope of benefits we offer. The most difficult part of this is communication, where transparency and effectiveness are critical to ensure our total compensation philosophy is embraced companywide. But because we engage in a collaborative process involving key stakeholders in planning and feedback (after all, these are their benefits), we’re able to create a program that truly resonates.

Impact and Benefits

Q: Who benefits from your Total Rewards initiative, and in what ways?

A: All employees benefit from our Total Rewards initiative. They enjoy a more supportive work environment, opportunities for personal and professional growth, and a sense of being valued and heard, which has led to increased job satisfaction, loyalty, and overall well-being.

Q: Can you share examples of the positive impacts your Total Rewards initiative has made on your company/employees/candidates/customers?

A key impact has been the significant reduction in burnout and stress among employees, which can be so prevalent in startup cultures. This is demonstrated by our “Find Your Balance” stipend, which was designed with a deep understanding that well-being extends beyond the physical; it encompasses mental, emotional, and spiritual health. In our fast-paced world, employees often find it challenging to disconnect, leading to increased levels of burnout and stress. Our stipend addresses this by empowering employees to invest in activities that replenish their energy and spirit. Whether it’s a yoga class to start the day, a weekend retreat to disconnect and recharge, or a hobby that sparks joy and creativity, the stipend encourages employees to prioritize their well-being. 

The impact has been measurable and deeply felt. Employees report feeling more relaxed, engaged, and connected to their work. Absenteeism has decreased, productivity has improved, and, most importantly, our team members express a greater sense of happiness and fulfillment in their roles. This initiative has not only improved individual lives but has also cultivated a more compassionate and understanding work culture, where the importance of taking time for oneself is recognized and valued.

We’ve also made a lasting impact on an employee’s journey to parenthood, facilitated by our out-of-state care stipend. Faced with the challenges and expenses of IVF treatment, the employee found not just financial support from Compt but a community ready to stand with her through the highs and lows of her journey. The out-of-state care stipend, specifically designed to support employees seeking medical care not available in their home state, was pivotal in making her dream of motherhood a reality.

This support extended beyond just the financial. When one of her colleagues volunteered their stipend to assist with her expenses, it was a powerful testament to the culture of empathy, generosity, and support that defines our workplace. The employee’s successful journey to parenthood, supported by Compt, has become a source of inspiration and a beacon of hope for many within our organization. It’s a vivid illustration of how a company can play a significant role in the most meaningful moments of its employees’ lives.

Insights and Learning

Q: What have you learned from the communities or teams you’ve worked with through this Total Rewards initiative?

A: We’ve learned the importance of listening to and genuinely considering employee feedback. This feedback loop has been crucial in refining our initiative to ensure it meets the evolving needs of our workforce.

Growth and Future Plans

Q: What are the future plans for your Total Rewards initiative? How do you plan to expand or evolve?

A: We plan to incorporate more personalized health and wellness support in various ways. Since our award submission at the end of 2023, we have already implemented caregiver days, improved our compassionate leave policy, and offered more money in our health reimbursement account to help cover the increasing healthcare costs.

Advice and Reflections

Q: What advice would you give to other companies looking to create similar positive change with Total Rewards?

A: Start by understanding your employees’ unique needs and preferences. Transparency, flexibility, and a commitment to holistic well-being are key components of a successful Total Rewards strategy. If you want to empower your people, give them the keys and let them drive regarding lifestyle benefits. Structure the program according to budget and business outcomes, but leave it flexible enough that employees can take advantage of benefits in the ways that are most impactful for their lives.

Q: Can you share a specific lesson or challenge your company faced during this Total Rewards initiative and how you addressed it?

A: Ensuring that benefits packages remain competitive and relevant will always be a challenge. To address this, we have established a regular review process, benchmarked against industry standards and best practices, and maintained open lines of communication with our employees.

Industry Insights

Q: What significant trend does your company believe will shape the future of workplaces, team cultures, or communities?

A: The future of workplaces transcends traditional boundaries, evolving into ecosystems that champion human-centric values and leverage technology to redefine what it means to work.

At Compt, we foresee a transformative shift guided by three pivotal trends: a nuanced approach to employee wellbeing, unparalleled flexibility, and deep-rooted inclusivity. These trends herald a new era where workplaces are not just locations or routines but are reflections of an organization’s ethos and its commitment to its people.

The future of work is now, and it beckons us to move beyond superficial wellness programs, diving into a more nuanced understanding of what truly constitutes well-being. This means acknowledging the multifaceted nature of wellness, encompassing mental, emotional, physical, and financial health. Forward-thinking companies will adopt a more integrated approach, offering solutions that address the complete spectrum of employee wellbeing. The goal is to create an environment where employees feel genuinely cared for on all fronts, fostering a culture of health that drives both personal and professional growth.

The next frontier for workplace flexibility extends beyond remote or hybrid models; it reimagines when, where, and how work is done. This involves flexible schedules that accommodate different life stages and responsibilities, outcome-based performance metrics rather than hours logged, and the empowerment of employees to shape their work environments. This level of flexibility will enhance work-life balance and unlock new levels of creativity and productivity by allowing individuals to work in ways that best suit their personal rhythms and life commitments.

Inclusivity must become the cornerstone of organizational identity, shaping policies, practices, and cultures. Future-ready workplaces will be characterized by a deliberate effort to embrace diversity in all its forms, from neurodiversity to cultural backgrounds, creating environments where every employee feels seen – not token – heard and valued. This will enhance employer attractiveness to top talent and unleash the rich, creative potential that comes from a truly diverse workforce.

As we stand on the brink of this new era, it’s clear that workplaces need to be vibrant, dynamic spaces that reflect a deep commitment to the well-being, flexibility, and inclusivity of every individual. This isn’t about adapting to the future; it’s about actively shaping it. We need to craft work environments that are both more human and humane, more supportive and more productive. In doing so, we’ll set new standards for being an employer of choice, a “Best Place to Work,” a company where people want to be their best and truest selves.

Reflection and Vision

Q: Describe a memorable moment or achievement during this Total Rewards initiative that your company is particularly proud of.

A: A particularly proud moment was witnessing the positive impact of our out-of-state care stipend on an employee’s life, enabling her dream of parenthood to come true. This moment underscored the profound difference our initiative can make in the lives of our employees.

Q: What is your company’s vision for the future in terms of industry transformation?

A: Our vision is for a transformed industry where holistic employee support is the norm, not the exception. We aim to lead by example and demonstrate that a comprehensive Total Rewards strategy can drive both employee satisfaction and business success.

Q: Anything else you would like to share?

A: We are continuously inspired by the stories of how our total rewards philosophy and lifestyle benefits have touched the lives of our own employees and those of the customers we serve. These stories fuel our commitment to pushing boundaries and innovating in the HR space.

Check out our other Transform Spotlights on the blog to learn more about our Global Ambassadors,People-First Leaders, Authors, Award Winners, and more!

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