I must say that this has been a most interesting process and, having been involved in hiring both junior staff and company directors, doing this within an open DAO forces some changes to what I’ve learned as best practice (for both the candidate and the organisation).
I think of the process as having three parts:
- Candidate Selection
- Package Negotiation
- 2nd Order Effects
Candidate Selection
This was the easiest part. All the people involved (@DarkForestCapital , @BigSky7 , @0x_Dev @anon10525910 and myself) were in full agreement that we should offer @JDcook this position. Personally, I can imagine no one better to become a Full Time Contributor to the Coop (in any role).
Package Negotiation
For me that package negotiation is about the candidate and what they can do for the Index Coop, and where we need to offer to capture their undivided attention.
@JDCook beings a number of valuable traits to the table:
- Excellent technical expertise as a Data Scientist - skills in high demand in DeFI
- Delivery of new tools and insights into our products.
- Team leadership in growing the AWG
- Active involvement in Index Coop since mid December 2020
- Insightful contribution in the forums and calls.
- A huge and positive influence to the coops culture and leadership.
As such, I believe that the proposed package is good for both JD and Index Coop.
I should note, that during the negotiations, it became clear that our opening offer ($5,000 + 0.15%) was not going to work. At this point, @DarkForestCapital and @BigSky7 asked to step back from the negotiations, as their position as FT contributors could imply a conflict of interest. I then asked @0x_Dev and @anon10525910 to join me as they will not be impacted by TF packages (WG leader Stipend and SET staff).
2nd Order Effects
During this process, we realised that by offering a FT role with better terms than the current four FT contributors are on, we may open the gate for others (current or future) to negotiate a larger package.
This is a separate discussion as to whether we should hire @JDCook on the proposed terms.
However, it is a debate that Index Coop should be having on an ongoing basis as we grow and we learn what the market pays.
During the hiring team discussions, we considered a number of things:
- Not all roles or candidates are equal. Some skill sets are much more valuable to the coop than others. In addition, the market rate for different skills is different. A full time Solidity Dev is likely to be offered a different package to a Data Scientist or a non technical role.
- As Index Coop grows (and the risks of long term commitment to us reduce) we anticipate that the number of vested tokens offered to candidates will reduce. However, at this time, we feel justified in making making the offer we have.
As such, while we have created a new price point with this proposal, we do not feel that we have set a new floor for FT contributors (existing or future). Nor have we set a limit on what could be offered to candidates with exceptional skills and abilities.
Finally, I would like to thank @jdcook cook, @DarkForestCapital , @BigSky7 @anon10525910 and @0x_Dev for their professional approach and patience as we navigate the growth of our DAO.
