ChartHop for Administrators
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Compensation reviews
Setting up a compensation revi...
Establish guidelines
you can establish guidelines to provide reviewers and approvers with a set of target ranges or amounts for each budget pool so that they have a starting point and reference range to work with when reviewing compensation guidelines empower your reviewers and approvers with the confidence that they are reviewing compensation equitably and according to established considerations you can choose to prepopulate field columns with recommended increases based on the values of specific built in or custom fields (for example, performance review rating, location, or amount of time employed) or choose to provide your reviewers and approvers with guidelines that include target values and ranges guidelines and threshold to establish guidelines, open an existing compensation review with a status of not started or paused select the guidelines & thresholds tab create a guideline you can create and customize multiple guidelines so that you can provide as much guidance and reference points for your reviewers and approvers as you want to create a new guideline select new guideline configure the guideline settings according to the parameters you want to implement see below for a description of all fields once you are finished, select calculate to process and update the guideline calculations delete a guideline you can delete a guideline when you'd rather start over with a new configuration deleting a guideline doesn't affect any other guidelines you've created to delete a guideline expand the guideline you want to delete select delete select confirm to delete the guideline guideline settings the following table describes the configuration fields you can apply to your guidelines field description example basics guideline label the name of your guideline reviewers and approvers see this label during employee compensation reviews merit us employees the guideline applies to establishes the group or category of employees for which the guideline applies select from the following dropdown options all eligible employees only specific departments only specific teams only specific levels only specific locations custom⦠only specific locations united states allocated from this budget pool determines the budget pool to which the guidelines apply to budget pool merit us fields field the guideline is calculated based on determines the charthop field (either built in or custom) upon which the guideline calculations are based for example, if you choose base, then charthop uses the current values of that field to perform the calculations you enter in the calculation section base field the guideline applies to determines the charthop field (either built in or custom) that is used to leverage and display the recommended guideline amount for example, if you choose base changed, then charthop applies the calculated guideline amount to the values in the base changed field base changed calculation do guidelines include a range, like 2 4% determines how your guidelines recommend compensation changes select from the following options target value only indicates only a target value is recommended target value + range indicates a target value and a range are both recommended target value + range are calculations dependent on one or more field values, like performance? determines whether the amount is calculated based on how a specific built in or custom field is defined (for example, department, performance) select yes to establish additional considerations for the guideline calculations based on specific fields selecting yes displays the which field affects the calculation? field underneath select no, the calculation is the same for everyone to apply the calculations evenly across all eligible employees for the guideline yes which field affects the calculation? determines the built in or custom field that affects the calculation when you select a field, you can define how the values of this field specifically affect the guideline calculations only fields with the following data types can be selected number money percent single select performance rating division business operations 2% customer support 2% sales 4% finance 2% legal 2% marketing 3% product 3% r\&d 4% calculation determines the specific calculation that is processed to affect the guideline select from the following dropdown options percent set amount (money) custom formula percent custom formula set amount (money) percent minimum determines the minimum of the guideline range when the guideline is set to have a target value and range this can be a percentage or a set amount depending on the calculation used 2% $1500 target determines the target of the guideline range when the guideline is set to have a target value and range this can be a percentage or a set amount depending on the calculation used 4% $3000 maximum determines the maximum of the guideline range when the guideline is set to have a target value and range this option displays only when the calculation is using a percentage 6% thresholds & workbook display options flag if value deviates from guidelines determines whether charthop flags a compensation change if it deviates from the established guideline yes prepopulate editable columns with target value determines whether compensation reviews are prepopulated with recommended amounts for reviewers and approvers based on the established guideline target value yes p ackages basic basic | | standard standard | premium available as an add on