The Compensation Manager feature allows you to manage salaries, bonuses, and benefits in one location. By using the Compensation Manager, you can make sure that any compensatory changes are managed fairly and effectively, and are properly administered to the affected employee. The Compensation Manager is designed to streamline the process of making compensatory changes, and it will help you avoid any mistakes or errors.
Important
The Compensation Manager feature is currently on a pre-release trial. Further details regarding the full release will be announced soon.
Availability
| HR Plan: | Premium | Platinum |
| User Access: | Employee | Manager | Admin |
We base the default access level on a per user basis and whether they have view, edit and delete access and excluding any changes made via our Custom Security feature.
Overview
The following outlines the steps that Administrators perform regarding the compensation cycle.
- Click the Pay menu.
- Click Management under the Compensation menu.
- Select Create a new cycle.
- Enter the following details of the Compensation Cycle, then click Next:
- Title
- Default Currency
- Date pay comes into effect
Helpful Hint
If the currency selected is in the same region as the business, you will be notified that no currency exchanges will need to occur.
- Click the Pay menu.
- Click Management under the Compensation menu.
- Select the compensation cycle you would like to start.
- Check employee details, then click Launch.
- Select Launch again.
- Click the Pay menu.
- Click Management under the Compensation menu.
- Select the compensation cycle you would like to end.
- Select End cycle.
- Confirm your selection.
- The cycle will now show as Ended on the Compensation Management list.
- Click the Pay menu.
- Click Management under the Compensation menu.
- Click the Delete action on the cycle you would like to delete.
- Confirm the deletion.
The following outlines the steps that a Manager performs during the compensation review
- Click the Pay menu.
- Click Management under the Compensation menu.
- Select the current compensation cycle.
- Select the employee you would like to recommend for review.
- Add any notes applicable to the review, then select Save.
- Add any additional comments, then click Send for Approval.
- Confirm the recommendation with the Send for Approval button.
- You can now see the approval status of the review, along with any comments and review activity.
Compensation reports
- Click the Reports menu.
- Click the Compensation tab.
- Click the Budget Report box.
- Filter your search based on:
- Cycle.
- Team.
- Manager.
Helpful Hint
You will now see the Compensation budget report, which includes the following information:
- Budget Allocation.
- Budget vs. actual spend.
- Global guidance.
- Average increase.
- Compensation given.
- Click the Reports menu.
- Click the Compensation tab.
- Click the Cycle Report box.
- Filter your search based on:
- Cycle.
- Team.
- Manager.
- Recommender.
- Location.
Helpful Hint
You will now see the Compensation cycle report, which includes the following information:
- Progress status.
- Progress details
- Click the Reports menu.
- Click the Compensation tab.
- Click the Company Salary Overview Report box.
- Filter your search based on:
- Team.
- Role.
Helpful Hint
You will now see the Compensation salary overview report, which includes the following information:
- Benchmark Comparison
- Employees within percentile.
Further information
Our salary benchmark data is powered by over 400,000 Employment Hero data points to provide a breakdown based on seniority, tenure, industry, and residential state.
It helps employer managers by telling them if an employee's salary is low/medium or high compared to the benchmark, and how confident we are in the benchmark banding.
If the alert is orange, this means that the effective date is the same or after the cycle effective date, and that this should be resolved before the admin ends the cycle.
If an employee is highlighted as purple, this means that their recommendation is above the guidance set. If the employee is highlighted as orange, their recommendation is below the set guidance.
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