— CHAPTER 05 —
How We Reward You
— Compensation and Benefits —
Equity and Fairness
We use a banded matrix model to ensure employees performing the same job are paid the same amount.
Experience, Performance & Impact
We have a high performance culture that plays to win.
Employee Wellness
We want you to feel taken care of inside and
outside of work.
Ownership
We want you to own your craft.
Transparency
We strive to provide clear communication and transparency on the what, how, and why of compensation.
Acknowledge Loyalty
We want to invest in you and want you to
invest in Sensibill.
— Compensation Framework —
Sensibill uses a banded matrix model that considers both discipline (vertical columns) and years of experience (horizontal rows) for each role.
We pay above current market rates and perform a market analysis annually to ensure our salary matrix continues to align to our compensation philosophy.
— Benefits —
Sensibill offers enhanced health and wellness benefits to full-time employees. Benefits are 100% employer-paid for you, your spouse, and your dependents and they are effective as of your first day. There are 3 flexible benefit plans to choose from. Before making your decision, please review the Group Benefit Overview and the Group Benefit Booklet - Canada Life.
Member Hotline: 1-800-957-9777
Inkblot
We believe that you deserve accessible mental health support so you can feel your best. Inkblot offers affordable, secure video counselling any time, any place. Inkblot connect clients with the most effective counsellors based on their needs and preferences, and sessions take place from the comfort of your own home.
Wealthsimple GRSP
Sensibill invests in your retirement planning with a Group Retirement Savings Plan powered by Wealthsimple. You can start contributing to your GRSP on your first day of Sensibill. Reach out to Katherine Lee, if you have not already been invited. All Sensibill employees who choose to participate in the GRSP, will be eligible for our matching program after 1-year of full-time employment. Starting on your first anniversary, Sensibill will match every dollar you put in your GRSP at 50% to a maximum of 2% of your salary.
In order to maximize your employee contribution, ensure you are contributing at least 4% of your salary, so you will receive the full 2% contribution from Sensibill.
Please review the Wealthsimple Employee Manual for more details.
— Equity —
All Sensibillians are granted stock options upon joining the company based on approval from the board.
A stock option is the right, but not obligation, to buy a fixed number of shares of stock at a specific price (the “strike price”) for a specific period of time (the “exercise period”). Stock options allow employees to become shareholders and participate in Sensibill’s growth and success. The vesting period is the period
in which you earn the stock options (4 years at Sensibill). Once a stock option has vested, you have full rights to exercise the option.
The exercise period is the period in which you can exercise your options prior to them expiring (the expiration is 10 years after grant date at Sensibill).
Please refer to the Equity Incentive Plan for more details.
Value of Stock Options
Value of Option = Current Market Price - Strike Price Current market price is determined at a financing or liquidation event. Strike price is determined by the company and generally increases as the company grows.
Carta
Sensibill utilized Carta to administer stock options. If you have any trouble with your Carta account, reach out to Vibhu Sridhar - Controller.
Increase Market Value
Each employee can have a huge impact on the value of the company.
Financial metrics - Growth in bookings & revenue, margins, profits
Health metrics - Operational excellence
Efficiency - Capital and operational
Product growth and potential
Systems and structures
External factors - Markets, economy, barriers to entry
— Compensation and Benefits —
Laptop and Desk Accessories Budget
Each full-time employee has a $150 budget for desk and laptop accessories that renews every 3 years. Purchase the items and submit the expense to the accounting team. Items should be general and not custom. To determine your remaining balance, reach out to Emma Orser-Cornie.
Learning and Development Budget
Each full-time employee has a $1,500 budget to spend on their own learning and development. The learning must relate to the skills needed in your role and be approved by your Manager. Once approved, this budget will cover up to 80% of the cost of the course (to a maximum of $1,500). You will be reimbursed upon successful completion of the course. If you leave the company within 12 months of reimbursement, the amount must be paid back in full. To determine your remaining balance, reach out to Vibhu Sridhar (Controller).
Referral Bonus
Earn $2,500 for every candidate that you refer to Sensibill that is subsequently hired, payable the first pay period following the new hire's first day. To submit a referral please complete the Referral Form. Please note that the Leadership Team (Director+) are not eligible for this perk.
Conferences & Networking Events Budget
Event fees for conferences and networking are reimbursable pending your Manager’s approval.
Parental Leave Top-Up
Enjoy the first two weeks (10 business days) of your parental leave at 100% of your salary.
Professional Membership Dues
If you are a member of a professional association, Sensibill will cover the cost of your annual membership dues.
— Payroll —
Sensibill’s pay is disbursed on a bi-weekly basis, on Fridays. Sensibill’s pay calendar is delayed by one week. For example, pay that is disbursed on May 29, 2021 covers the period worked from May 11 - May 22, 2021.
If you have any issues with your ADP account, please contact the Vibhu Sridhar (Controller).
— Using ADP —
Payroll for both Canadian and US employees is processed by ADP. Within your first week at Sensibill, you will receive a registration email to get set-up. Please complete the registration as soon as possible. Having access to the ADP platform ensures that you can review your pay stubs and other documents for your taxes. All tax documents (T4s) are automatically uploaded and made available directly on the ADP portal, or the mobile application.
If you have any issues with your ADP account, please contact the Vibhu Sridhar (Controller).
Once you complete your registration, you can login through the ADP website:
Canadian employees
US employees
Alternatively, you can access ADP Mobile Solutions using their mobile app.
As a best practise, pool all your expense reimbursements into one report for each pay period - this helps lower the strain on the accounting team.
— Expenses —
Employee’s are responsible for submitting their own business expenses through the Receipts export feature available in the Beta App. Each employee is expected to behave honestly, responsibly and within the guidelines of the Expense Policy.
When submitting an expense reimbursement, prior to exporting your receipts, ensure that all details are accurate (merchant name, date, total, taxes, and currency). In the notes section, please specify what the expense relates to, with reference to its business purpose (for example: Learning and Development or Fitness Activity Budget).
The Finance team reviews all expenses and will follow up if there are any discrepancies or the business purpose has not been clearly stated. As a best practise, pool all your expense reimbursements into one report for each pay period - this helps lower the strain on the accounting team, which helps them process requests faster.
Please submit your expenses by the Friday preceding pay day, to have it processed on time (one week before pay day). All expense reports are to be sent to accounting@getsensibill.com for review.
— BYOD Expenses —
As stated in the BYOD Policy, employees can reimburse either $20 or $65 per month on their phone bill. The amount is based on business need, and should be communicated to you by your manager. Be sure to manually adjust your expense so it fits the above limit - do not just claim your entire phone bill.
