If your organization does not use compensation bands as part of your compensation review process, or if there are employees included in your cycle who are not assigned to a compensation band, you can still set up and execute a compensation cycle in Lattice. Learn more about using compensation bands in Compensation Bands Page Overview.
Compensation cycles without bands
Admins can create compensation cycles without compensation bands, however, it is recommended to use bands to take advantage of the following features. Employees must be assigned a compensation band to:
Receive promotion raise guidance based on % attainment to their new compensation band range. Read more about setting promotion raise guidance on the Budget page of cycle setup in Create a Compensation Cycle: Budget.
Have their compensation band placement reflected in the manager's recommender view for additional context when decision-making. Read more about the recommender view in Complete your compensation review: Recommendations.
Have compensation band information displayed in the employee's compensation statement. Read more about configuring post-cycle share-out statements in Share Compensation Bands with Managers.
Next, create a compensation cycle.