The Budget page of a compensation cycle setup allows admins to set a budget and calculate the projected spend for the compensation cycle.
This budget guidance will help support recommenders in making compensation decisions. The following can be completed when setting a budget:
- Set the budget: Enter the overall target budget for promotion and merit raises using an average percent (%) increase on total pay under Increase/employee for each eligible employee or entering a lump sum amount under Raise budget.
- Promotion raise guidance: Provide recommenders with a raise guidance for promoted employees. Note that this option is only available if you have included promotions within the Participants page.
- If all promoted employees are assigned to a compensation band at promotion, you have the option to provide promotion raise guidance based on target band attainment % or % increase to total pay.
- If any promoted employees are not assigned to a compensation band at promotion, you can still provide promotion raise guidance based on % increase to total pay.
- Merit raise guidance: Provide recommenders with a raise guidance for each eligible employee who is not receiving a promotion by entering a target percent increase on total pay
- If you have linked performance reviews, you can set a specific target percent (%) merit increases based on scores.
- If no performance reviews were linked, the percentage (%) would apply to all eligible employees
Projected distribution chart
The Projected distribution chart shows the budget breakdown by the three existing categories: promotion guidance, raise guidance, and remaining budget.
If promotion and merit raise guidance exceeds the total budget, you will receive an exceeding budget error and be requested to adjust the budget or raise guidance.
Bulk update raise guidance
Admins can bulk update the raise guidance by uploading a CSV.
To upload a CSV:
- Select Upload guidance.
- Download the Raise Guidance CSV template.
- Update the Raise Guidance column with your own values.
- Upload the updated CSV.
- Select Save.
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