Compensation policies went from very competitive (clearly one of the best employers in the area) to strictly mediocre with lots of ridiculous "gotchas." Leveling up within your role is exceptionally difficult, and the raise upon promotion is crappy due to employee-unfriendly policies like "you can't skip a pay level (so someone who goes up two levels upon promotion will only go up one level in pay), and "when you level up your pay only goes to the bottom of the band", and merit and market raises target the middle of the pay band--regardless of the value the employee provides. No COL adjustment, so if your role isn't in high demand and the band drops you can rest assured you'll never see a merit and market raise.
Once upon a time there was a sense that leadership truly was committed to balancing the needs of the business with the needs of the people who comprise the business. That sense has sailed since IPO. The new sense is that only the business matters, management is according to the bottom line and working at Pluralsight has become nothing but a job. Leadership clearly believes they can skate by on employee goodwill, but when we employees feel like we're being used, manipulated, and taken for granted we're not likely to 1) stick around, and 2) give our best effort.
I don't know who's responsible for the anti-employee compensation policies, but they are disappointing to say the least.