Sep 15, 2020
LogRhythm Response
5yThank you for taking the time to provide feedback. We agree that LogRhythm is fortunate to have a lot of extremely talented employees! And half-day Fridays has been very well-received. It is our small way to say ‘thank you’ to our valued team members, thanks for making note of it.
Like many companies, LogRhythm has been impacted by the global pandemic. We aimed to proactively and aggressively protect the livelihoods of our entire team to ensure that we emerge strong and well-positioned to ensure LogRhythm’s future. As such, we made the very difficult decision to take temporary salary reductions across the entire company. The reductions lasted 3 months and pay for the entire company was restored over two months ago. Both the salary reduction and the pause in the 401K match were always intended to be temporary in nature and that is the way they were communicated. We are currently reviewing ways to reinstate the 401K match.
In terms of changes to benefits, the initial rate increase we received was substantial with percentage in the double-digits. We evaluated our options thoughtfully to renew benefits with the least amount of financial impact to employees. This meant that we had to make some tough choices. We reduced the amount of the increase by over 15% and LogRhythm absorbed the total cost of the benefits renewal, which means that employees did not experience an increase in the amount they pay for benefits. The “health plan opt out credit” is provided by less than 1% of employers according to the survey information we were provided. As it is not market practice, we decided to prioritize keeping the rate employees paid the same over the opt out credit.
One of my colleagues will respond to the product questions.
Most important, we very much appreciate and recognize the sacrifice made by every employee during this difficult time. We are proud of our employees’ tenacity and are humbled by the effort of many to drive forward as a team - One Team. One Dream.