Compensation and Benefits
Members at Hypha, full-time or part-time, permanent or otherwise, are evaluated based on the following criteria:
- skills and experiences
- seniority in organization
Full details and salary tiers are specified in our Employee Salary Guide.
Members are entitled to three weeks of flexible plus one week of fixed time off. For a full-time member working four-day weeks, that amounts to 12 days of flexible vacation days plus the fixed week of December Holidays.
Full details about time off is specified in our Holidays, Time Off, and Leaves page.
Canadian employees are eligible for enrolment into our group benefits plan three months after their start date. Foreign contractors receive a modifier to their cash salary in place of group benefits.
Our provider is the Co-operators and we are able to provide the following to members based on hours worked:
|PT (0.25 or 1 day/week )||No benefits|
|PT (0.50 or 2 days/week)||Life, AD&D, LTD + HSA|
|FT (0.75 or 3 days/week, and above)||Life, AD&D, LTD, EHC, Dental + HSA|
What do all of those mean? See their definitions by the Co-operators.
As a worker co-operative, Hypha has a policy of allocating part of our annual surplus (or loss) towards individual members' capital accounts, as defined in section 6.4 of our bylaws.
The co-operative keeps an account balance for each full member. After each fiscal year, 20% of the co-operative's surplus/loss in that year is allocated among all the members according to labour contribution (i.e., time commitment) through the fiscal year.
Currently, the account balance is loaned to the co-operative at 0% interest as liquidity for business activities. There is no process for members to receive the balance, except when a member resigns their membership, at which point their account balance is paid out.
Client Initiative Allocations
Hypha participates in projects where clients may offer incentives to key individual contributors in the form of shares (e.g., founders shares, stock options, Restricted Stock Units (RSUs)), tokens, bonuses, or other incentive-alignment mechanisms. Members are free to make these arrangements directly with clients as appropriate. These incentives are owned and managed by the individual, and do not involve the co-op.
Historically, there have been cases where Hypha receives a small allocation, or where the co-operative participates in the capitalization table. There are also instances where neither individuals nor the co-op are involved in the allocation agreements. The arrangement depends on the client's intention and Hypha's role in the project. In cases where the co-op receives asset allocations, they become part of Hypha's assets and are collectively managed by the membership, similar to other asset types.
Democratic Governance Participation
A worker co-operative is democratically managed by its membership; this means that all key decisions require one-person-one-vote approvals as defined in our bylaws. These decisions are made throughout the year, and most importantly at our Annual General Meeting.
In their first year, probationary members participate in many of the important Hypha-related discussions without actual voting power. Once someone is accepted as a full member, they become a voting worker-member who is responsible for the strategic direction of the co-operative and its obligations to the membership.