FWIW Regarding your “bright-line” rule: For ~all our current roles/hires (even the most junior ones) their earning potential in the private sector is higher than the output of the calculator. We’re not typically hiring people who could attract <average wages as the counterfactual because we have been hiring exceptional people for specialist roles. As we grow we might hire for different roles where this isn’t the case and may at that point reconsider. I certainly don’t expect our current calculator/settings to last more than 1 year (at the very least we’re updating for things like inflation and currency shifts, we will also use these comments in the review process too).
Thanks—that makes a lot of sense. One of the things I’m thinking about in the back of my head is the possibility that other orgs may adapt the algorithm for broader use. So I think it’s helpful to document considerations like this. Doing so mitigates the risk of others applying the algorithm without first considering whether important assumptions upon which the originator org relied also hold true for their org.
FWIW Regarding your “bright-line” rule: For ~all our current roles/hires (even the most junior ones) their earning potential in the private sector is higher than the output of the calculator. We’re not typically hiring people who could attract <average wages as the counterfactual because we have been hiring exceptional people for specialist roles. As we grow we might hire for different roles where this isn’t the case and may at that point reconsider. I certainly don’t expect our current calculator/settings to last more than 1 year (at the very least we’re updating for things like inflation and currency shifts, we will also use these comments in the review process too).
(Typing on my phone, excuse the brevity)
Thanks—that makes a lot of sense. One of the things I’m thinking about in the back of my head is the possibility that other orgs may adapt the algorithm for broader use. So I think it’s helpful to document considerations like this. Doing so mitigates the risk of others applying the algorithm without first considering whether important assumptions upon which the originator org relied also hold true for their org.
Agreed!