Back in May of this year, Amy (CEO and founder of Compt) and I caught up.
The team, product, and demand for employee stipends have grown exponentially since I left back in mid-2021.
In just the last couple of years, employee stipends went from being a “nice-to-have” at organizations to now being a “need-to-have” lifestyle benefit.
The reason for this rapid change?
There are several:
- The work-from-home movement with 12.7% of people working remotely and 28% working hybrid.
- The demand for a highly enjoyable work experience, because it makes people want to stay at a company longer and they’re actually more invested in the company’s overall success.
- The need for HR departments to cut back on spending by consolidating their perk/benefit stacks, but without losing competitive edge (literally what stipends were made to do!).
I’ve only been back with the team for a few months, but it’s absolutely intoxicating to see how far the team has come, as well as the employee stipend market as a whole. The quotes I see employees and HR administrators leave on G2 bring me another world of happiness because it’s a reminder that six years ago, when I joined Amy to build a company that would deliver on its word of offering meaningful lifestyle perks so intensely, Amy was absolutely right because it’s happening.
It’s no longer “if” a company will offer a stipend; now the question is, “What’s the best way to administer my stipend?” — and that, has been amazing news for Compt.
And if you’re curious and want to check out some of the changes we’re making, let’s hop on a call. It’s been wild to see what 1.5 quarters (yes, only 1.5!) with brilliant people seriously focused can accomplish.
Here are a few guides we’ve created and/or updated recently: