<aside> đź“Ś Overview
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Our leveling framework is the foundation of managing performance, compensation, and progression → the growth & development of luminovo and every individual luminerd.
<aside> The leveling framework helps us create transparency around:
Expectations – Clearly define skills and responsibilities required at each level to achieve desired results and impact. This also reduces ambiguity & bias in performance reviews.Compensation – Compensation is directly aligned with your job level & hence expectations. Higher expectations typically translate to higher pay in the same job family.Progression – Leveling framework provides a view of what growth looks like. It enables managers & directs to align on how skills and responsibilities evolve with career progression.
</aside>Leveling Framework (Individual Contributor) (1)
Our leveling framework is aligned with the industry-standards for leveling decisions. This allows us to effectively benchmark our salaries for each level and role at Luminovo against the current talent market.
<aside> ⚖️ Benchmarked salaries We want to offer compensation that aligns with industry standards. To maintain a transparent and fair approach to compensation, the salary ranges for all positions are determined based on market benchmarks and our performance leveling framework.
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Your level & sublevel is therefore directly linked to a predefined compensation package. Within a specific role, Luminerds on the same level and sublevel are paid equally. Only working hours and location-based pay might then lead to difference in salary.
<aside> 💸 Equity compensation We value every Luminerd’s work and dedication right from the start. Hence, for investing their time and skills in Luminovo as well as trusting and contributing to our vision, all permanent employees receive a Virtual Employee Stock Option Plan (VESOP) as part of their compensation package.