LONDON and SAN FRANCISCO, Oct. 13, 2021 /PRNewswire/ -- Oyster®, the company that makes hiring people around the world compliant, human, and delightful, is making it easier for distributed companies to decide when to compensate remote team members with equity. Oyster's Equity Assessment Tool provides country-specific information about the cost, tax obligations, and compliance requirements associated with providing stock options, restricted stock units (RSUs), and cash plans to team members, reducing the uncertainty that often prevents companies from offering equity to remote workers.
Providing equity to team members across a range of locations is complicated, often requiring in-depth knowledge of the specific laws and regulations of each country. As a result, many companies are faced with a choice to either become experts in equity regulation in multiple countries or to not offer any equity to team members in certain locations. Many companies opt for the second of these two unattractive options, leaving them at a disadvantage in the job market.
Oyster's Equity Assessment Tool gives companies a third choice: Easily understand the feasibility of providing different types of equity in multiple countries and make informed decisions about their global compensation policy. The tool's easy-to-use color-coding system rates equity options in more than 60 countries as either green, yellow, or red, depending on local costs and requirements. For example, if stock options in Country A are marked green, it indicates that compliance and tax requirements are favorable, making this a good compensation option for a company hiring someone in that location. Similarly, if restricted stock units in Country B are marked red, it suggests that providing this form of equity is complex and potentially costly to both the company and the worker. By developing a user-friendly, reliable way of assessing equity options, Oyster is not only helping companies save time in this once complex process, it is also empowering talent acquisition teams to deliver compensation packages that are fair and competitive, regardless of where a team member is based.
"Offering equity can be a powerful way of attracting and retaining team members. But in the new world of distributed work, providing incentives like stock options and RSUs can be deeply complicated. Each country has its own tax, legal, and compliance requirements, meaning that the risks and costs of providing equity can vary dramatically by location," said Kim Rohrer, Oyster's Interim Head of People. "That's why I'm so excited about Oyster's Equity Assessment Tool — it will help companies understand the implications of providing equity in certain countries, and in doing so, will give them more confidence when designing compensation packages for team members all over the world."
Oyster's Equity Assessment Tool is now available in beta to existing Oyster customers. Companies that wish to learn more about the tool can visit www.oysterhr.com/equity-assessment-tool.
Oyster is on a mission to create a more equal world by making it possible for companies everywhere to hire people anywhere. The company's HR platform for globally distributed companies enables growing organizations to give valued international team members the experience they deserve, without the usual headaches or expense. Oyster empowers hiring anywhere in the world with reliable, compliant payroll and great local benefits and perks. Founded in January 2020 by Tony Jamous and Jack Mardack, Oyster is itself a fully remote company with a diverse, globally distributed team.
If you'd like to learn about how to build a successful distributed team, visit Oyster Library.
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