Most people get a LinkedIn congratulations on their work anniversary. Some employees will also be getting a raise, too.
Vibe coding startup Lovable is offering full-time employees a 10% pay rise every year on their work anniversary, in a bid to attract and retain talent.
“We don’t take retention for granted. It’s treated as compounding value that is actively recognized and rewarded,” Elena Varna, growth operator at Lovable, wrote in a post on LinkedIn on Thursday.
Loveable lets users build apps, websites, and digital products using AI prompts. Launched in 2023, the company was valued at $6.6 billion in December.
“People get more valuable the longer they stay, and they shouldn’t have to worry about getting a raise or not,” Anton Osika, Lovable’s CEO and cofounder, wrote in an X post that included a screenshot of Verna’s post.
“The longer someone stays at Lovable, the more deeply they understand the company, contribute to its momentum, and shape its culture,” Maryanne Caughey, who leads Lovable’s people team, told Business Insider in a statement.
She said the policy applies to all full time staff who meet their performance expectations.
Caughey previously told Business Insider that the company plans to grow to 400 employees, up from 146 in March.
As startups like Lovable and Big Tech firms compete to attract top AI talent, massive compensation packages for both senior staff and, increasingly, interns are becoming big talking points in the tech industry.
The annual 10% pay rise announcement has generated buzz online, with many users replying to Osika’s post on X about it.
Some users said they were underwhelmed by the announcement, given the lower salaries tech employees in Europe typically receive compared to those in the US.
However, others have praised Lovable’s retention strategy as a breath of fresh air in a job market that is full of companies increasingly rolling back employee benefits.
The rollback of benefits has gone beyond workplace perks like free gym memberships and in-house baristas, and is now affecting prized benefits such as parental leave and the 401(k).
Zoom reduced the number of paid parental leave weeks it offers to its employees, while Deloitte has also done the same for certain employees, mainly in support roles.
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