In Q1 2022, Next Street made two major changes to its compensation approach to make it more equitable and transparent. First, we created consistent compensation bands for the entire firm, so team members at the same level, regardless of function or business line, are compensated the same. Second, we shared those compensation bands along with a clear, rigorous methodology for merit-based pay increases and promotions, with the full firm. We shouted the new approach from the rooftops, ensuring staff understood the new approach and felt empowered to navigate within it. Read more on HR.com.
