Kelly joined Loop as the first member of their People team, and now oversees all things talent and people as they rapidly grow their team. Kelly previously helped lead technical recruiting efforts at CoverMyMeds, supporting their growth from 100 to over 1,300 employees and a $1.0bn+ acquisition.
About Loop
Loop is the exchange-first returns platform for scaling Shopify brands. They enable merchants to automate returns without risk, expand second chance opportunities, and increase customer lifetime value. Loop, headquartered in Ohio, has raised over $75mm to date and has a team of over 100 employees.
Products and Features Highlighted
Digital Offer Experience
Total Compensation Tool
Takeaways
Loop wanted to better convey their compensation philosophy and help candidates understand their total compensation, including the potential value of their equity at various potential outcomes, along with the value of their benefits and perks.
It was also important for Loop to be able to control the messaging around their compensation philosophy, including the terms and conditions tied to a candidate’s total compensation summary.
Loop uses Welcome’s Digital Offer Experience to help candidates clearly understand Loop’s philosophy on ownership and equity alongside the full picture of their compensation package.
Background
Loop knows that the success of their business is heavily dependent on the happiness of their team members. They believe that offering equity is a remarkable strategy for investing in both efforts, creating a culture where each and every team member acts like a true owner.
As Loop continued to scale their team and business, they wanted to make sure that candidates clearly understood the potential upside of being an owner, along with the value of their salary and Loop’s competitive benefits and perks offerings. Loop was looking for ways to:
Clearly articulate their compensation philosophy and why receiving equity was important to the growth and success of the candidate and the business.
Help candidates understand their total compensation, including the potential value of their equity along with the value of their cash, benefits, and perks.
Allow candidates to model potential outcomes through visualizing Loop’s potential valuation growth, and understanding the growth opportunity in front of them.
Welcome’s Impact
Once Loop rolled out Welcome’s Digital Offer Experience as part of their hiring efforts, they were able to:
Exceed acceptance rate target: Surpass the team's annual acceptance rate goal by 20% by helping candidates better understand their compensation.
Help candidates better understand equity: Leverage Welcome’s educational content around the mechanics of equity along with the potential value of their stock options.
Hit their hiring goals: Rapidly close and onboard over 50 candidates in 8 months as they scaled their team across all departments.
Up-level their hiring brand: Create a consistent and scalable offer experience and hiring brand, with the added flexibility to clearly articulate their compensation philosophy.
Welcome's Total Compensation Tool
Welcome has had a huge impact in helping us communicate both our compensation philosophy to candidates in addition to helping them better understand their individual opportunity and upside in being an owner in Loop.”
