We believe every Nitean should take part in the distribution of the company profits. So every quarter, if the company is doing well, we reward those who stay with us. More in the main document about Profit sharing.
The Productivity Allowance is a monthly budget that can be used to pay for any expenses that you believe can improve your work. Some examples of such expenses (but definitely not a finite list): attending a conference, a training or a similar event, an online course, a new phone, computer or monitor, a good microphone and camera for meetings, a good work chair or a standing desk, an Internet connection with a static IP at a reputable provider, a membership of a local hackerspace, a gadget such as a Kindle or a smart watch, a Raspberry PI to play around with and learn new things, etc. You can also use your allowance for a gym membership or similar sport activity.
In other words, would something boost your productivity and creativity? Good, feel free to buy it with your allowance, no questions asked.
The current monthly allowance budget as of January 2018 is:
- Niteans: €130 ($150)
- Founders: €260
The monthly budgets compound every month, so whatever you do not spend this month, you can use the next month, or the one after.
You can request an increase in your allowance if you feel the current one doesn't cover all the expenses for you. You can spend a few months of future allowance balance. The maximum allowance balance you can keep is 18 months. That said, it's smart to keep at least a few months allowance, just in case something breaks.
If they attended a conference in the previous year, each Nitean gets a €1000 ($1145) additional budget on 1st of January every year.
Every Nitean, when they transition from Trialist to a Permanent position, starts with an allowance budget that is proportional to how many months remain in the year (€1000 in January, €500 in July, etc.)
We encourage you to attend conferences to improve your knowledge of a subject area and network with similar minded people. Try to give notice at least 10-14 days before attending a conference.
All conference expenses such as transport, accommodation, food, etc., are covered by your Allowance. To make sure you don't run out, you get a bonus for every day of the conference.
The allowance bonus accounts for all the days you are away at the conference and depends on the amount of traveling and accomodation required:
- €40 ($45)/day for local conferences, in or near your home city.
- €150 ($170)/day for international conferences.
- €255 ($290)/day for intercontinental conferences.
- Bonus 50%/conference day if you give a 30-60min talk at the conference or tending our booth.
Conferences count as working days (7.5h per day). Transport to conferences counts too (up to 7.5h per day).
The conference allowance bonus requires that you write a report about the conference when you get back. It can be published on any of our blogs or as a Spotlight article in our Newsletter.
For example, John attends a 5-day IRL in Istanbul:
* Flights and taxis are €600.
* IRL venue and accommodation is covered by Niteo.
* John spends extra €100 on snacks and a massage at the airport.
* John gets his salary in EUR.
* John's monthly allowance is 125 EUR.
The conference bonus is calculated like so (with a day of travel each way):
* €1050 (7 * €150/day)
Therefore John charges the company €700 (€600 + €100) in spent allowance. Before the trip, John's allowance budget was €1000 so after the trip, it is now €1350 (€1000 + €1050 - €700).
Another example: Two months later, John goes to a three-day conference in Barcelona:
* Conference fee is €500.
* Flights, trains and, taxis are €500.
* Hotel and food are €600.
* John spends extra €300 on niceties that make his trip more enjoyable.
* John gets his salary in EUR.
* John's monthly allowance is 125 EUR.
The conference bonus is calculated like so (with a day of travel each way):
* €750 (5 * €150/day)
Therefore John charges the company €1900 (€500 + €500 + €600 + €300) in spent allowance. Before the trip, John's allowance budget was €1600 (€1350 + 2x€125) so after the trip, it is now €450 (€1600 + €750 - €1900). The trip was expensive but it sure was nice!
You are encouraged to extend your trip and take vacation days to see the place you travel to. Or the place where your layover is. We are already paying for your ticket, so might as well get the most of it, right?
Everyone is entitled to 165 hours of vacation leave (22 days) in any calendar year. These hours are automatically used to substitute any missing hours when one doesn't fulfill the monthly work quota. Over/undertime hours are calculated every month for the previous month.
Parents get 1 extra day of paid leave every quarter.
Birth of a child is 20 extra days of paid leave.
Death in the family is 3 extra days of paid leave.
To book vacation time off, add an entry to the Planned Absences page.
Unused vacation hours in a calendar year can be carried over to the next year but must be used by July 1st. If not, we are going to have a serious conversation because everyone needs a break.
If all your allocated vacation days have been taken you can take further vacation days but they will be unpaid.
Please ensure however that your department and associated work will not suffer during your absence. Also, note that your quarterly profit share amount will be affected by the number of unpaid vacation days your take. See Profit sharing for further details.
We are from different parts of the World, and we have different customs when it comes to public holidays. The Americans have close to no public holidays, some countries have up to 20 public holidays per year (though some come on weekends). To avoid taking a break when your government tells you to instead of when you need a break, and to avoid "bad holiday years" when all public holidays come on weekends and are hence rendered moot, we have our own approach to holidays:
- Everyone is entitled to one public holiday each month, whichever day they want.
- The one day is automatically calculated as one working day less every month.
Everyone has the right to sick leave on days when they don't feel capable of working. A day of sick leave counts as 6 hours of work done and will be automatically added to your "worked hours".
Sick leave can and should be used when taking care of an ill child or spouse.