The company will be remote-first as I don't think people need to sit next to me to be productive. Talent is everywhere and I want to hire people wherever they want to live.
One issue I still have is around the pay structure. I have two options - pay local rates or pay same salary no matter where people are. Here are some pros and cons I have so far:
Similar pay cross locations:
+ Pay based on value you bring to the company.
+ Equality, similar base line.
- Will be able to attract less people in hire cost of living areas.
Pay based on location:
+ Will be able to attract talent in expensive markets.
- Will be hard to keep track on local wages.
- Where people choose to live does not relevant to their output, hence pay.
I would love to get your thoughts and I ideas how I should pay remote employees!