1. Present yourself and what you do at Makers Academy
I am Dana Svoboda, Chief Joy Officer at Makers Academy, coding bootcamp. I am a holistic coach, meditation and Yoga teacher.
2. Do you think salary affects motivation? In what way?
I think salary plays a role in motivation. Although, what I’ve seen in my time at Makers Academy, is that salary is not the main factor in motivation. People here seem to be mostly focused on and driven by the work.
3. Do you have any examples of this in your workplace? For example, Have you seen higher salaries being reflected on higher performance or even decrease of one’s performance?
As a self-managed company, we set our own salaries based on what we feel is fair, advice from peers and market value. It’s a highly self-reflective process that holds you accountable for the number you decide upon. This system has worked well for us so far. Sometimes motivation takes a dip when one feels that the value they are adding to the company is not being properly reflected in their salary. This is followed by what we call the ‘salary advice process’ where the issue can be addressed.
4. Did you ever have anyone leaving or deciding not to accept a job at your company because of the proposed salary? How did you manage that?
No, I don’t think it ever happened, although there must have been cases when someone great didn’t apply because they assumed we wouldn’t be able to properly compensate them. On a couple of occasions, the interviewing process would end very early once it became obvious that there’s a significant gap between the candidate’s and company’s expectations.
5. Have you noticed generational differences regarding the importance one gives to the salary?
I’ve noticed that team members with spouses and children seem to place more importance on salary. Of course, it makes sense when it’s not just you that you have to support.
6. a) Do you have a non-financial rewards system you believe works better than salary increases to boost people’s happiness? What is it?
We do. Firstly, we are free to set our own salary. I feel that being in a company that gives you the autonomy and trust to do this, in itself, is a reward. It’s not very common in companies, so it feels quite special to us. The sense of being trusted and supported to use your best judgement when it comes to salary (and general work) is quite enlivening. Trust begets trust so you want to do a good job — it feels good.
We have a culture of transparency and with open communication, this allows us to ‘bring our whole selves to work’. Again, this is uncommon in most companies — we feel appreciative that it is encouraged. Feeling like you can be authentic in the workplace enhances happiness. It is something we have to actively practice, though, to ensure it remains a part of our culture.
6. b) In your opinion, what is the best driver of happiness: incremental salary bumps or the occasional performance-driven bonus?
I would say the feeling that you are paid a fair salary after having a good, honest look at what you have done, are doing and plan to do, can create conditions within you that can lead to happiness. Therefore incremental salary bumps, in my opinion, are preferable. Knowing that as I grow and add more value, my salary will reflect it. As opposed to performance-driven bonuses, which seem less about the work to me and not likely to make me much happier.
7. Could you name 3 non-salary related activities you believe are crucial for employee happiness that your company does?
- Dedicated support for the staff. E.g. coaching and emotional support, personal development, among others.
- Encouraging autonomy and leadership.
- Team bonding events and activities.
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