Growing rapidly, Carrot wanted to attract talent in the middle of a tight labor market coming out of the pandemic when talent was at a premium.
“We wanted to make sure we could be as competitive as possible,” says Carrot CHRO, Leslie Neitzel.
Carrot’s team is fully distributed and based in the US across 40 states, which played a big part in the need for remote benefits.
Neitzel tried other benefit management solutions but they lacked:
A consistent or formal benefits program
A seamless experience for employees and HR administrators
Easy expense reporting for one-off reimbursements through payroll
After googling solutions around offering employees fringe benefits, reimbursements, and stipends, Neitzel booked a call with Compt and had a great conversation with the team.
The pre-tax post tax nuances that go with offering employee stipends was very important in choosing the right benefits management solution. The structure behind the scenes and ease of use of the platform appealed to Neitzel:
“I don’t want my employees to struggle with using a benefit, whatever it is. It needed to be seamless for us and the employee.”
New employees would purchase laptops and submit expense reports. Neitzel says, ”It was getting unmanageable for how fast we were hiring.” Instead of using a more traditional expense management system, Carrot wanted a stipend management tool. And because Carrot’s team was fully remote, HR couldn't offer in-office perks like breakfast or coffee.
Carrot wanted to give employees flexibility instead of offering a gift card to Grubhub on a monthly basis. ”What if someone didn’t want that?”, says Neitzel.
It’s been a really easy and fun way to offer perks to our employees, which has added to the experience our employees are having. It’s low lift on the HR side which goes a long way with employees.
Leslie Neitzel
CHRO, Carrot
The Solution
Now with Compt, Carrot offers its remote team benefits that help them be more productive including:
New hire tech stipend to purchase an ergonomic chair or create a functional workspace
Productivity stipend for a morning coffee, dog walker , or fitness membership
Spot bonuses of $50 for holiday dinners so employees can take families out
In two weeks, Carrot was able to roll out the platform to the team and keep communication open with Confluence articles explaining benefits to employees.
Actionable insights on stipend utilization
Carrot can now access data on which stipends are liked and used by employees to make better decisions when budgeting for benefits. Neitzel says,
The utilization[data] has been very helpful. I can see if a stipend is something that’s well received. Are people taking advantage of it? What’s the timing of when they use it vs when it’s offered? It helps us decide monthly and quarterly budgets.
Neitzel has visibility in popular stipend categories and if they’re using it for internet or phone bills or lunches.
The reality is we have various stages in our lives. Things change and I think we’ve tried to recognize that with more frequent updates to our benefits program. New growth brings new ideas and new experiences as an employer.
Leslie Neitzel
CHRO, Carrot
Success Metrics with Compt
97% Team Engagement
Employees enjoy using the platform and feel engaged when working remotely across teams.
92% Perk Utilization
Carrot team members enjoy stipends including productivity, new hire setup, and holiday spot bonuses.
2 Week Launch
Fast implementation with employees with communication of stipend ideas via Slack and Confluence.
Easy and fun way to offer perks to employees
If you’re considering a benefit selection tool and don’t know where to start, take advice from Carrot CHRO Neitzel:
Start thinking through specifically what you want to offer employees.
Get education about taxable and nontaxable benefits for employees.
Communicate how you’re rolling out your stipends so employees understand how to use the benefits.
While launching employee stipends, Carrot sent various drip campaigns and reminders. They also use a Slack channel How I Compt, which is a great way to give people ideas on how to use their stipends.
"The reality is we have various stages in our lives. Things change and I think we’ve tried to recognize that with more frequent updates to our benefits program. New growth brings new ideas and new experiences as an employer," says Neitzel.
Learn how Compt can help you transform your old benefits into personalized perks that your employees will actually use and love. Schedule a demo today.
About Carrot
Company headquarters: Menlo Park, CA
Company size: 300+ employees
Industry: Fertility Healthcare
Carrot Fertility is the leading global fertility healthcare company for employers and health plans.
Carrot helps employers and health plans provide equal access to high-quality fertility care regardless of age, race, income, sex, sexual orientation, gender identity, marital status, or geographic location.
And unlike other solutions, Carrot provides deep, equitable support for all journeys, including fertility preservation like egg and sperm freezing, IVF, donor and gestational carrier services, adoption, pregnancy, menopause, and low testosterone.
