Creating a compensation round
Compensation round (comp round) is a compensation review process with start and end date, to which a comp tree (compensation tree) and comp elements (compensation elements) are attached. They are based on a data core. You can create and manage your comp rounds as well as link a specific comp elements and budget inside them.
To see the details of already created comp round, click on the View button in the Actions column, on the far right of the table.
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Compensation rounds are available under Workbench> Compensation > Compensation rounds. Access to Workbench depends on your role within the platform. This feature is available for users with Configuration, Compensation Admin and Global Compensation Admin professional roles.
Step 1 - Round details
To create a comp round, proceed as follows:
Click Create comp round in the upper-right corner of the Compensation rounds page. The comp round creation form is opened at the first step, Round details.
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Fill in the basic details of the comp round:
Enter a name of the new comp round in the Name field.
Enter a unique code in the Round code field.
Enter a description for the comp round in the Description field. We recommend that you state in this field the purpose of the comp round to avoid any confusion if you're creating several comp rounds in your system.
If required, select additional owners in the Comp round owners field, by typing their name in the search field and then clicking the name of the relevant person in the search results. If you don't add additional owners, you will be the only person who can manage the comp round.
In the Round type section you may enable the com element in the Salary section. If you want to configure also a Bonus comp round select the Bonus plan and Comp element from the drop-down lists in the STI bonus section.
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To use the STI bonus feature, ensure that all relevant bonus plans have are in "Ready" status within the Compensation section before initiating configuration.
The Currency section allows you to choose the Comp round currency, Exchange rate type and the Effective date.
Click Next in the progress widget to move to the next step of the comp round creation process: Key dates.
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Click Save and exit in the upper-right corner of the application to simply save your changes and finish the creation later on.
Step 2 - Key dates
In the second step you will be asked to select a data model that will be used within this comp round and to set the key dates. Remember that defined bonus plan period must align with the established KPI due dates to ensure accurate bonus calculations.
To complete this step, proceed as follows:
In the Data model section, select the Data model from the drop-down list and choose the Freeze date and Cut-off date.
In the Compensation round timeline, specify the Start date and End date of the compensation round.
In the Bonus plan period, define the Period start date and Period end date for bonus calculations. This section is available only if you enabled the STI bonus section in the first step of the creation form.
In the Effective dates, specify the date the compensation adjustments—Salary and Bonus plan—will take effect. The Bonus plan option will only be available if you enabled the STI bonus section in the first step of the creation form.
Click Next in the progress widget to move to the next step of the comp round creation process: Population.
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The data model is created in Workbench > Data Management > Data Modeler. To learn more about creating a data model, see Working with a data model.
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Click Save and exit in the upper-right corner of the application to simply save your changes and finish the creation later on.
Step 3 - Population
Once you have entered the basic information and key dates for the comp round, you need to define its target population; in other words, the managers and workers who will be able to select this comp round.
To improve clarity and efficiency, population selection is segmented based on compensation type:
Salary- a dedicated selection for the salary review population.
Bonus STI - a separate selection specifically for the STI bonus population, clearly displaying the associated bonus plan name for easy identification.
In the first section you can see the overview of your population definition witch includes three parts:
System populations - with number of workers
Included - with numbers of workers you added manually
Excluded - with number of workers you excluded manually
In the Select system populations section from the drop down list select the relevant existing population criteria that apply to your needs.
You may also add workers in the Manual worker selection section. To do it, proceed as follows:
Click on Manage workers and from the drop down list select Include worker or Exclude worker. A new pop-up window will display.
Enter the name of the worker you wish to manage in the search bar and click on it to add it to the list.
When you finish adding workers to the list, click Confirm to add selected workers to the population.
Click Next in the progress widget, at the right side of the form, to move to the next step of the comp round creation process: Team planner view.
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Click Save and exit in the upper-right corner of the application to simply save your changes and finish the creation later on.
Step 4 - Define hierarchy
In the Define hierarchy step, of the comp round creation form, select the hierarchy configuration from the list.
You are now able to see the preview in the Preview section.
Click Next in the progress widget, at the right side of the form, to move to the next step of the comp round creation process: Team planner view.
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Click Save and exit in the upper-right corner of the application to simply save your changes and finish the creation later on.
Step 5 - Team planner view
After having added populations, you can configure which columns and features your managers and approvers will see in the final comp round.
To customize the Team planner view, proceed as follows:
Column Configuration
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Locate in the page the column that you want to configure. You can search them directly in the search bar or you can filter them by Category, Entity, or Type. You can also check the boxes to show or hide the disabled columns. The overview of the Compensation grid configuration table is shown on the following illustration:
The compensation grid configuration
Check the box to add the column to the comp round or uncheck to remove it from the comp round.
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To add custom columns or create a group of columns, click the Create button in the top-right corner of the Team planner view list, and chose the option from the pop-up window.
To add custom column select Custom column, a new window will display on the right side of the page. Enter a Column name, add the Code and select the Type from the drop-down list. You can add a Help tip that will be displayed as a tooltip on hover. You may also select a Column color and Select type.Click Apply to save your changes.
To add calculated column select Calculated column, a new window will display on the right side of the page. Enter a Column name and add the Code. You may also select Header color, define Decimal precision, enable currency toggle and add a Formula in Expression builder. Click Apply to save your changes.
To add column group list select Groups. A new pop-up window will appear. Click on New button located in the Group list section and type the name of your custom group and accept the name by clicking on the green icon on the right. You may edit your column by clicking on icon or remove it by clicking on icon.
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You may also configure the existing columns. Click the icon and then Edit button.
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For Data model category in the Configure column window you can
Change the name for the field in the Display name bar.
Define the Help tip.
Change the Column color.
Click Apply to save your changes. If you want to go back to your previous settings, click Reset to default button.
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For the Comp element category in the Configure column window you can:
Change the Column color.
Select Decimal display precision from the drop-down list.
Define when managers must add notes during proposals in the Required notes section.
Change the name in the Display name.
Define the Help tip.
In the Calculated field section you may
Select the Reference field.
Enable the Increase amount and Increase % columns. These columns will later help you calculate by how much the original amount was increased.
Enable Guaranteed amount column. This section will show the minimum pay amounts that are legally or contractually required for certain employees.
Click Apply to save your changes. If you want to go back to your previous settings, click Reset to default button.
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For Bonus category in the Configure column window you can
Change the Column color.
Select Decimal display precision from the drop-down list.
Define when managers must add notes during proposals in the Required notes section.
Enable the Target bonus section by clicking on the toggle.
Enable the Calculated bonus section by clicking on the toggle.
Enable the Bonus amount section by clicking on the toggle.
Enable Guaranteed amount column. This section will show the minimum pay amounts that are legally or contractually required for certain employees.
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You can also configure the conditional formatting for the column. Click the icon and then Conditional formatting button. A conditional formatting drawer will appear on the right side. To create a rule, proceed as follows:
Click Create rule button. Add Rule name, Description, and choose a Background color. In the Rule configuration section, click Add criteria, choose a Value type, select Criterion from the drop-down list and add your rule.
After a rule is created, it will be visible in the drawer. Remember that rules can be prioritized by dragging and dropping them, with higher-priority rules overriding lower ones when their conditions overlap. This is shown in the image below.
Feature enablement
Click on the toggle to enable or disable the visibility of the Budget widget. If the widget is enabled, it will be displayed at the top of the page for compensation managers during planning.
Click Next in the progress widget, at the right side of the form, to move to the next step of the comp round creation process: Eligibility.
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Click Save and exit in the upper-right corner of the application to simply save your changes and finish the creation later on.
Step 6 - Eligibility
In the Eligibility step of the comp round creation form, you can define the rules that will exclude the ineligible individuals from the comp round. By default all individuals within the specified population are eligible.
To define the eligibility rules, proceed as follows:
Click the Create + button on the upper right corner of the Eligibility window or click the + Create rule button under the Eligibility rules section in the middle part of the site. A new window is now displayed.
In the Rule details section add the Rule name and Description.
In the Compensation elements section select the comp elements that you will use this rule.
In the Rule configuration add the condition blocks to configure the rule. Toggle to chose if the block should be related to All or Any. Select a Criterion from the drop-down list then select an Operator and insert the Value. Click Add condition to add more conditions to the block. You may copy or delete your criteria by clicking the copy and bin icons.
In Rule exceptions section toggle to include or exclude individuals for whom an exception to the rule is require.
Click Next in the progress widget, at the right side of the form, to move to the next step of the comp round creation process: Budget.
After creating the eligibility rules, you can see them listed on the left side of the page. To search or filter them, click on the drop-down list at the top of the section and select your filters or writhe the name of the rule in the search bar.
To disable a rule from the list, change the state of its the toggle by clicking on it. Once the rule is disabled the toggle will change its color to gray.
To delete or duplicate a rule, click the button and select Duplicate or Delete option.
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Click Save and exit in the upper-right corner of the application to simply save your changes and finish the creation later on.
Step 7 - Budget
In the Budget step of the comp round creation form, you can define the rules that will distribute your budget and manage your target budget.
To manage your target budget per compensation element, proceed as follows:
To set your compensation element click on +Set target budget button in the compensation element section at the top of the page. A pop-up window appears.
Enter your Target budget amount and from the drop-down list select the Currency.
Click Select target to save your changes.
To edit or delete any of the compensation elements, click on the icon and select Edit or Delete option.
To define the budget rules, proceed as follows:
Click the Create + button on the upper right corner of the Budget rules window or click the + Create rule button under the Budget rules section in the middle part of the site. A new window is now displayed.
In the Rule details, section add the Rule name and Description.
In the Compensation element, section select an option from the drop-down list.
In the Rule configuration, add the condition blocks to configure the rule. Toggle to chose if the block should be related to All or Any. Select a Criterion from the drop-down list then select an Operator and insert the Value. Click Add condition to chose add more conditions to the block. You may copy or delete your criteria by clicking the copy and bin icons.
In the Outcome section, define the outcome of the created rule. Using the buttons form the Expression builder create the Expression formula.
In Rule exceptions section toggle to include or exclude individuals for whom an exception to the rule is require.
Click Next in the progress widget, at the right side of the form, to move to the next step of the comp round creation process..
After creating the budget rules, you can see them listed on the left side of the page. To search or filter them, click on the drop-down list at the top of the section and select your filters or writhe the name of the rule in the search bar.
To disable a rule from the list, change the state of its the toggle by clicking on it. Once the rule is disabled the toggle will change its color to gray.
To delete or duplicate a rule, click the button and select Duplicate or Delete option.
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Click Save and exit in the upper-right corner of the application to simply save your changes and finish the creation later on.
Additional step for Bonus calculation - Bonus calculation equation
This step is only available if you enabled the STI bonus plan option in the first step of the form. Here you can preview and review your formulas.
From the Bonus plans panel on the left side of the page select the Bonus plan.
Check the preview of the formula you've created shown in the Bonus calculation formula section.
Review the target bonus formula in Target bonus section:
Select the Currency source and then choose the Target bonus currency field form the drop-down list.
Build a new expression formula in the Expression builder.
Click Next in the progress widget, at the right side of the form, to move to the next step of the comp round creation process: Guidelines.
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Click Save and exit in the upper-right corner of the application to simply save your changes and finish the creation later on.
Step 8 - Guidelines
In the Guidelines step of the comp round creation form, you can define the rules that will be the guidelines for your comp round.
To define the guideline rules, proceed as follows:
Click the Create + button on the upper right corner of the Guideline rules window or click the + Create rule button under the Guideline rules section in the middle part of the site. A new window is now displayed.
In the Rule details, section add the Rule name and Description.
In the Compensation element, section select an option from the drop-down list.
In the Rule configuration, add the condition blocks to configure the rule. Toggle to chose if the block should be related to All or Any. Select a Criterion from the drop-down list then select an Operator and insert the Value. Click Add condition to chose add more conditions to the block. You may copy or delete your criteria by clicking the copy and bin icons.
In the Minimum outcome section, define the minimum outcome of the rule. Using the buttons form the Expression builder create the Expression formula. Toggle to block save if the chosen criteria will not be met.
In the Maximum outcome section, define the maximum outcome of the rule. Using the buttons form the Expression builder create the Expression formula. Toggle to block save if the chosen criteria will not be met.
In Rule exceptions section toggle to include or exclude individuals for whom an exception to the rule is require.
Click Next in the progress widget, at the right side of the form, to move to the next step of the comp round creation process: Guaranteed amounts.
After creating the guidelines, you can see them listed on the left side of the page. To search or filter them, click on the drop-down list at the top of the section and select your filters or write the name of the rule in the search bar.
To disable a rule from the list, change the state of its the toggle by clicking on it. Once the rule is disabled the toggle will change its color to gray.
To delete or duplicate a rule, click the button and select Duplicate or Delete option.
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Click Save and exit in the upper-right corner of the application to simply save your changes and finish the creation later on.
Step 9 - Guaranteed amounts
In the Guaranteed amounts step of the comp round creation form, you can set the minimum or fixed value that must be honored during the comp round.
To define the guaranteed amounts, proceed as follows:
Click the Create rule button on the upper right corner of the Guaranteed amounts window or click the + Create rule button under the Guaranteed amounts section in the middle part of the site. A new window is now displayed.
In the Rule details, section add the Rule name and Description.
In the Compensation element, section select an option from the drop-down list.
In the Rule configuration, add the condition blocks to configure the rule. Toggle to chose if the block should be related to All or Any. Select a Criterion from the drop-down list then select an Operator and insert the Value. Click Add condition to chose add more conditions to the block. You may copy or delete your criteria by clicking the copy and bin icons.
In the Guaranteed amount section, define the guaranteed amount for this rule and how you want to provide the amount. The guaranteed amount will be reflected in the local worker currency.
Click Next in the progress widget, at the right side of the form, to move to the next step of the comp round creation process: Workflow.
After creating the rules, you can see them listed on the left side of the page. To search or filter them, click on the drop-down list at the top of the section and select your filters or write the name of the rule in the search bar.
To disable a rule from the list, change the state of its the toggle by clicking on it. Once the rule is disabled the toggle will change its color to gray.
To delete or duplicate a rule, click the button and select Duplicate or Delete option.
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Click Save and exit in the upper-right corner of the application to simply save your changes and finish the creation later on.
Step 10 - Workflow
In the Workflow step of the comp round creation form, you can define the approval dates that will set the workflow for your comp round.
First you must select your Workflow type between Time-driven or Collaborative.
Time-driven
In this workflow, steps follow fixed start and end dates. Access is granted only within the specified date range. This method is ideal for predictable review cycles.
The Start date and End date are automatically added according to your selection from the first step Round details. Other dates you may select from the calendars located in each section.
You have a possibility of adding maximum four approval periods and you need to add minimum one. To disable any of the periods, change the state of the toggle located in the top right corner of the period section to gray.
You may change the name of the periods by the clicking on the button.
The available periods are:
HRBP review - enabling this period will allow users with HRBP role to see the review in read-only mode. After approving this step, the next period will be activated.
Compensation manager - this period enables users with compensation manager role to review and approve this step.
Manager +1 - this step allows manager+1 to review the comp round.
HRBP approval - this is the period for HRBP approval. It may be combined with the first step but it's not obligatory.
Collaborative
In this workflow, all stakeholders act within the same date range, completing proposals in parallel until the end date.
The Start date and End date are automatically added according to your selection from the first step Round details.
In the Key dates section, specify the start and end dates during which edits to the round are permitted.
In the Collaboration settings choose how the stakeholder (HRBP, Manager or Manager+1) will participate in the round. You have three options:
Read and write
Read only
No access
Click Next in the progress widget, at the right side of the form, to move to the next step of the comp round creation process: Validation.
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Click Save and exit in the upper-right corner of the application to simply save your changes and finish the creation later on.
Step 11 - Validation
In the Validation step, of the comp round creation form, you can generate a report that will allow you to view and check your round configurations.
To generate a report, proceed as follows:
Click on the Generate report button. A pop-up window will appear.
Enter the Name of the report.
Click Generate. The report will automatically appear in the list of reports.
You may search for a report using the search bar at the top of the list or sort your reports by selecting options from the drop-down list.
To inspect a report, click and select Details. A new window will open on the right side of the screen.
To download a report, click and select Download. A pop-up window will be displayed. There you can set a Password for your document. Click Download button to save this report on your local device.
To rename or delete the report, click and select Rename or Delete.
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Click Publish in the progress widget, at the right side of the form, to publish your comp round and finish the comp round creation process.
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Click Save and exit in the upper-right corner of the application to simply save your changes and finish the creation later on.