Compensation Reviews Like You’ve Never Seen: Informed, Collaborative, and Equitable

Every organization’s greatest asset is its people. It’s the source of a company’s competitive advantage and the bedrock of a good culture. With uncertainty over the economy adding anxiety to employees’ minds, supporting employees with informed and equitable compensation decisions is critical to retaining talent.

Because compensation reviews are unique to every organization, many People and Finance teams rely on spreadsheets to manage this process. However, spreadsheets are prone to error, difficult to distribute to multiple teams, and often lack all the information you need to make judicious compensation decisions. 

With these challenges in mind, we are excited to announce the launch of Compensation Reviews, generally available to all customers in Fall 2022.

With this add-on, ChartHop Premium customers can easily configure compensation cycles, visualize the impact of compensation changes, collaborate seamlessly on the entire process, and even sync compensation changes to Workday Adaptive Planning. Yes, that’s right: no more vlookups, no more pivot tables, and no more creating a new spreadsheet with separate data *just* for one department head.

With the launch of Compensation Reviews in ChartHop, you can confidently and easily administer compensation decisions.

Here’s what you can expect when you begin using this new module:

Build Compensation Review Cycles Tailored to Your Organization with a Simple, Guided Builder

• Create flexible budgets, guidelines, and approval flows to support compensation review cycles unique to your organization
• Configure compensation bands with different currencies that include base, variable, or equity and tailor them by department, geography, or other categories that best reflect your organization
• Tailor unique views of team compensation for different managers, such as only showing equity for those employees in North America

Centralize and Visualize Your People Data so Merit Planners Can Make Faster, More Informed Decisions

• Allow managers and merit planners to see performance ratings, equity, compensation, salary history, bands, vesting schedule, and more in one view
• Create multiple, concurrent comp cycles for different departments and teams
• Visualize the impact of compensation changes on overall DEI metrics, how each change impacts where an employee sits in the compensation band, and the impact to the overall budget pool

Collaborate Securely and Empower All People Managers to Make Impactful Decisions

• Define the approval process and who can see what data in order to protect sensitive information
• Reduce the risk of errors in compensation by distributing and consolidating views of different teams 
• Empower Finance teams by sending current compensation data and comp scenarios created in ChartHop to Workday Adaptive Planning

Compensation Reviews shouldn’t be giving you a headache with all the data, information in different places, and number of stakeholders involved. With ChartHop, you can be sure that your managers, executives, and Finance team are all aligned and making equitable decisions for your workforce.

Ready to Learn More?

Interested in learning more? Existing customers can reach out to their Customer Success Manager for a tour. Otherwise, request a demo to take a peak.