Before creating a compensation cycle, you should have the items below prepared.
Files to upload
The following files will need to be uploaded before creating a compensation cycle. All are required with the exception of Promotions.
Download the CSV templates at the bottom of the article.
1. Employee pay data
Pay data includes base pay, variable pay, currency, and pay effective date. Employee pay data is required before creating a compensation cycle.
Learn more in How to Upload Employee Compensation Data.
2. Compensation bands
Compensation bands refer to the minimum and maximum amounts a company is willing to compensate someone within a job level. Compensation bands are required before creating a compensation cycle.
The following fields are required:
- Job level
- Job function
- Job type
- Currency code
- Min base pay (salary)
- Mid base pay (salary)
- Max base pay (salary)
3. Compensation band assignments
Employees must be assigned to a compensation band in order to be included in the compensation cycle.
When bulk assigning compensation bands, the following fields are required:
- Employee email
- Job type
- Job level
- Location Tier
Promotion indicates which individuals are going to be promoted via this cycle. Promotion is set during the compensation cycle set up via a CSV.
Learn more in Create a Compensation Cycle.
The compensation cycle will require the following information. Learn more in Create a Compensation Cycle.
Determine the currency you'd like to use for the compensation cycle. Compensation cycles can only use one currency type.
2. Eligibility rules
Decide which employees are eligible to receive a compensation adjustment based on:
- Tenure (start date)
- Last compensation change
3. Performance data to be used
Determine whether to bring in a performance rating question from a review cycle. This information can be used to help calculate raise guidance and be provided to managers and admins for context.
4. Budget and distribution
Determine the overall budget based on an average (%) increase on total pay or a lump sum amount.
5. Guidance rules for salary increases
Determine whether to provide recommenders with a raise guidance for each eligible employee based on a target percent increase on total pay. You can set a certain percentage based on the linked performance review or for all employees.