September 2022 Product Updates: Compensation Fields + Time to Fill

We’ve spent the last couple of months covering our new Compensation Reviews module and how easy it is to build and collaborate on comp review cycles based on your organization’s unique needs. 

Well, we’ve decided to one-up ourselves in the area of compensation this month by continuing to add more than 80 new built-in comp fields to further support how you manage, plan, and report on compensation. 

That doesn’t mean we’ve forgotten about our Talent Acquisitions teams. We’ve also introduced Time to Fill, which encourages more informed organizational planning by providing insights on the number of days it takes to fill open reqs. 

Introducing New Compensation Fields

ChartHop’s new Compensation Fields equips you with 80+ new built-in fields and calculations for Base, Variable, and Total Compensation – available on Datasheets, Reports, and elsewhere. These fields allow you to quickly set up tracking for compensation and headcount costs so you can more efficiently gather valuable insights for your organization. 

With ChartHop’s new Compensation Fields, you can:  

• Access an enhanced data structure to holistically capture employees’ comp packages with flexible cost fields, track compensation history with more granularity, and measure actual cost over time with new metrics that allow for more precision. 
• Support separate currencies on Base and Variable pay, use a simple currency conversion, and manage your own currency rates. 
• Use Year-to-Date and Prorated Cost built-in calculations for both the calendar year and the fiscal year to support simple cost forecasts. 
• Allow both an annual bonus and a commission on the same job.
• Promote transparency by providing employees a full snapshot of their comp package and showcasing value beyond salary, including bonuses and commissions.

We’ll be releasing all of the above over the course of this month and next. Access the list of new fields that have been already released here. 

Introducing Automatic Time to Fill Tracking

ChartHop’s new Time to Fill job calculations encourages more effective and informed organizational planning by equipping People leaders and managers with better estimates for target start dates in headcount plans. As one of the most important and common recruiting metrics, Time to Fill measures recruiting effectiveness by calculating the time between starting active recruitment for a role and having an offer accepted.

With ChartHop’s new Time to Fill, you can:

• Use automatically generated fields to calculate Time to Fill: Offer Accept Date, Recruit Active Date, and Time to Fill (Recruit Active Date – Offer Accept Date). 
• Generate reports that visualize and track when candidates are hired or the overall time to fill open reqs, allowing you to establish and manage recruiting costs along any dimension, such as by department or location.
• More accurately measure the effectiveness of your hiring process and where you can make improvements to your recruiting strategy.