glennaustin
Active member
This proposal is cross-posted at https://www.dashcentral.org/p/core-comp-201807
Background
Most of the information covered below was provided in last budget cycle’s compensation proposal. The only drastic change versus that proposal is the increase in requested funding ($600,000 in this proposal versus $360,000 in last month’s proposal). As communicated previously, the need for this increase is three-fold:
1) Our current run-rate including benefits and targeted salary increases is ~ $430,000 monthly.
2) To onboard our international subcontractors to the professional employment organization we need to provide an upfront deposit representing 2 months employee benefits/salary due to laws and regulations governing employee termination. We expect to incur an upfront expense of $80,000 in July as we begin the onboarding process for some of our international subcontractors.
3) We have an urgent need to rebuild a buffer in the Core Team Compensation budget to account for potential Dash volatility. We will continue to request funding above the run-rate until our compensation budget has 2-3 months of funding built into it. We will also start the practice of converting some of our Dash into fiat in this particular budget line going forward. The buffer requested for this budget cycle is $90,000.
What does this proposal fund?
This proposal funds the Dash Core Group's ongoing compensation costs - including all developers, administrative, and support staff - at market rates for base pay, including some benefits which we are now beginning to roll out as certain contractors are converted to employee status. By extending employment and benefits to our key contributors, we aim to improve the sustainability of working for the Dash Core Group by providing compensation and benefits commensurate with the market. Providing these benefits greatly improves retention and provides a more stable workforce to the network.
The run-rate has increased in the past few months and we expect it to increase further due to a number of factors including:
a) Extending benefits to staff that are transitioning from contractors to permanent employees of Dash Core Group Inc.
b) Increase in the total number of employees/subcontractors as open positions are filled
c) Targeted salary increases for employees and subcontractors to align with market rates including adjustments to account for blockchain experience
d) New administrative costs charged by our global employment, payroll, and benefits provider for servicing employees
If you have any questions, please direct them to @glennaustin in this Dash Forum post to ensure we are notified of your request.
Requested funding is as follows for the July 2nd budget cycle:
· 1,889.97 Dash for core team compensation ($600,000 USD @ $317.446 per Dash)
· 5.00 Dash proposal reimbursement
Total: 1,894.97 Dash
Note: Should any funding remain, we will apply it toward future compensation expenses.
Manually vote YES on this proposal:
dash-cli gobject vote-many 2b504367be1c5646a49ad7e4d6a71913dc6c120307d8a6b0fa69b7a43d5a4f08 funding yes
OR from the qt console:
gobject vote-many 2b504367be1c5646a49ad7e4d6a71913dc6c120307d8a6b0fa69b7a43d5a4f08 funding yes
Manually vote NO on this proposal:
dash-cli gobject vote-many 2b504367be1c5646a49ad7e4d6a71913dc6c120307d8a6b0fa69b7a43d5a4f08 funding no
OR from the qt console:
gobject vote-many 2b504367be1c5646a49ad7e4d6a71913dc6c120307d8a6b0fa69b7a43d5a4f08 funding no
Background
Most of the information covered below was provided in last budget cycle’s compensation proposal. The only drastic change versus that proposal is the increase in requested funding ($600,000 in this proposal versus $360,000 in last month’s proposal). As communicated previously, the need for this increase is three-fold:
1) Our current run-rate including benefits and targeted salary increases is ~ $430,000 monthly.
2) To onboard our international subcontractors to the professional employment organization we need to provide an upfront deposit representing 2 months employee benefits/salary due to laws and regulations governing employee termination. We expect to incur an upfront expense of $80,000 in July as we begin the onboarding process for some of our international subcontractors.
3) We have an urgent need to rebuild a buffer in the Core Team Compensation budget to account for potential Dash volatility. We will continue to request funding above the run-rate until our compensation budget has 2-3 months of funding built into it. We will also start the practice of converting some of our Dash into fiat in this particular budget line going forward. The buffer requested for this budget cycle is $90,000.
What does this proposal fund?
This proposal funds the Dash Core Group's ongoing compensation costs - including all developers, administrative, and support staff - at market rates for base pay, including some benefits which we are now beginning to roll out as certain contractors are converted to employee status. By extending employment and benefits to our key contributors, we aim to improve the sustainability of working for the Dash Core Group by providing compensation and benefits commensurate with the market. Providing these benefits greatly improves retention and provides a more stable workforce to the network.
The run-rate has increased in the past few months and we expect it to increase further due to a number of factors including:
a) Extending benefits to staff that are transitioning from contractors to permanent employees of Dash Core Group Inc.
b) Increase in the total number of employees/subcontractors as open positions are filled
c) Targeted salary increases for employees and subcontractors to align with market rates including adjustments to account for blockchain experience
d) New administrative costs charged by our global employment, payroll, and benefits provider for servicing employees
If you have any questions, please direct them to @glennaustin in this Dash Forum post to ensure we are notified of your request.
Requested funding is as follows for the July 2nd budget cycle:
· 1,889.97 Dash for core team compensation ($600,000 USD @ $317.446 per Dash)
· 5.00 Dash proposal reimbursement
Total: 1,894.97 Dash
Note: Should any funding remain, we will apply it toward future compensation expenses.
Manually vote YES on this proposal:
dash-cli gobject vote-many 2b504367be1c5646a49ad7e4d6a71913dc6c120307d8a6b0fa69b7a43d5a4f08 funding yes
OR from the qt console:
gobject vote-many 2b504367be1c5646a49ad7e4d6a71913dc6c120307d8a6b0fa69b7a43d5a4f08 funding yes
Manually vote NO on this proposal:
dash-cli gobject vote-many 2b504367be1c5646a49ad7e4d6a71913dc6c120307d8a6b0fa69b7a43d5a4f08 funding no
OR from the qt console:
gobject vote-many 2b504367be1c5646a49ad7e4d6a71913dc6c120307d8a6b0fa69b7a43d5a4f08 funding no
