Four-day workweeks, workcations (work + vacation), winter breaks, housekeeping support, and even housing allowances worth tens of millions of won…
We’re living in an era where startup benefits programs are evolving by the day.
What exactly constitutes the best benefits package?
“I can see that the company is working hard for its employees.”
The Head of HR Planning, who has been withWadizfor six years, says this is the most rewarding comment she has ever received.
This is the team that listens most closely to our employees and is dedicated to fostering a healthy work-life balance.
Our team leader recently appeared on a YouTube webinar hosted by the HR service company Flex
and shared a detailed overview ofWadiz 10-year history of compensation and benefits.
From 2017 to 2021: Series A through D!
As Wadizscaled up from 50 to 350 employees, how did Wadizwork to provide rewards and benefits for our team members at each stage? Let me share the challenges and achievements we faced at each stage.
2017–2018 Series A and B: “Let’s make this an office that connectsWadiz”
Like any new venture, there was a time Wadizwas just a small team of 50 people cheering each other on. Above all, it was a time when the synergy of “collaboration” as a “single team” was most important.
There were two key points to the welfare system at that time
Point 1. Let’s make the office a place where people want to spend time
Point 2. Let’s create a comfortable work environment by fostering connections among team members
That’s how Wadizcurrent pride and joy—the monthly Impact Forum, the relaxation area, the health center, and the all-you-can-eat snack bar—came to be. Wadizwas particularly dedicated to events back then. It was a time when Wadizwas buzzing with all kinds of spectacular events, from year-end and New Year’s parties to beer parties.
It was because all members worked together as a unified team.
2019–2021 Early Series C: “Let’s create the optimal environment for getting work done”
This was a period of truly explosive growth, with our headcount expanding from around 120 to 250 employees.
At this stage, we needed to focus even more on “efficiency” than we did during our Series A round.
It was a time when we were grappling with how to work effectively and deliver results as the company grew in size.
There were two key points here as well
Point 1. Creating the optimal environment for efficient work
Point 2. Ensuring that employees grow alongside the company
Wadizis a company that is more committed to “growth” than any other. It was a time when it was crucial to provide our team members with opportunities and roles that would allow them to grow alongside the company’s rapid expansion.
The advertisement at Pangyo Station, which sparked a huge buzz with its heartfelt message toWadiz, was created during this very period.
But that’s not all— Wadizpride and joy, the in-house café where you can enjoy high-quality drinks at affordable prices, as well as the 40-hour workweek and flexible work arrangements, all started this way.
By the way, this in-house café was one of the most frequently mentioned items on Wadizbucket lists. While we were brainstorming the mostWadizcafé, we came across “His Beans,” a café run by baristas with disabilities. Wadizwas deeply impressed by their meticulous and systematic support for the challenges faced by people with disabilities, WadizHis Beans deeply resonated with Wadizvision—and together, they created “Cafe Wadiz.”
Late 2021–Present: Series D “Expanding into Everyday Life”
Having successfully closed a 100 billion won Series D round last year, Wadizhas now “expanded” into a company with over 300 dedicated employees. While the previous phase was all about growth, we now need to expand our employee benefits to encompass daily life and well-being.
It’s fair to say that we’ve reached a point where a company’s image has become crucial not only for employee satisfaction but also for attracting top talent.
Point 1. Let’s foster a sense of pride Wadiz
Point 2. Let’s make Wadiza company that top talent wants to join
One of the most notable benefits programs at this timeis the “signing bonus.”
While companies typically offer signing bonuses to attract top talent, Wadizwas based on the idea of “giving the same reward to the colleagues who have contributed to our growth so far!” That’s why we decided to give all employees a 20% retention bonus, equivalent to the signing bonus.
Oh, and Wadizis a crowdfunding platform, right?
The annual 1 million won in points that members can freely use for crowdfunding is proving to be very effective.
The team leader himself noted, “Since we started offering points, the number of funding rounds has jumped to 10 over the past month.” Is there any better reward than being able to use your own company’s service with special perks?
“How can our compensation be linked to our value?” “How can our rewards be linked to our values?”
Every year, Wadizconducts an organizational commitment survey among its employees.
The survey asks what criteria people use when choosing a company and what factors contribute to their satisfaction Wadiz.
The most frequently cited criterion when choosing a company was “personal growth.”
Furthermore, “support for personal growth” consistently ranks among the top factors contributing to employee satisfaction Wadiz.
This reflects the positive reception of our current initiatives, such as “unlimited book subsidies” and “self-development expense support” for obtaining professional certifications.
Wadizmission is “to create a world where the right ideas grow based on trust.”
Rather than simply introducing good policies, isn’t the best employee benefit one that clearly demonstrates how it connects to our work and how it adds value?
(Actually, the Head of HR Planning says that Wadiz best employee benefit is “great colleagues.” 😀)
Bonus! HR Planning Team Leader, I’d like to know this too
- DoesWadizcover the cost of external training that isn’t directly related to my job?
We cover the cost of books as long as they contribute to your personal growth, regardless of whether they are job-related.
For external training, you can apply for courses that are directly related to your job or that could contribute to your professional development in the long term.
- What was the most popular benefit program atWadiz?
The “Self-Development Support Program” received the most positive feedback from our team members.
It created a virtuous cycle that helped us expand our expertise as a company while also benefiting our individual team members.
- What are the steps and key considerations for establishing a welfare program?
1) Listen to employees’ feedback
2) Research current trends, including external welfare programs
3) Conduct a cost simulation
We determine the system and establish detailed rules by considering these three factors. Above all, it is important to implement a system that is feasible and aligned with each company’s mission and circumstances. Just as Wadizhas continuously improved and expanded its compensation and benefits programs based on Wadiztalent philosophy of “Authentic Excellence” and its Five Principles, it is important for each company to assess whether its system aligns with its core values, gather consistent feedback from employees, and make ongoing improvements :)
