Final approving a compensation review

Final approvers are the final step in the compensation review cycle. While the compensation review cycle is in progress, you don’t have access to reviews and approvals until the deadline when all reviews are due.

Once you reach that key date in the timeline, you have the ability to join the compensation review and review all submitted compensation proposals.

As a final approver, you should prioritize reviewing:

• The results of the total overall budget allocation using the Budget overview and Raise percentage charts and make adjustments as necessary.
• Employee exceptions to the established compensation guidelines to ensure compensation is being distributed equitably and transparently. You can use the View dropdown in the reviewer workbook to view only employees with exceptions. 
• Comments included with all submitted proposals to see the collaborative process of your reviewers and approvers and how decisions were made.
• Insights to see how promotions, raises, and compa ratios were distributed along Diversity, Equity, & Inclusion (DEI) metrics (for example, by gender, race, and age) and by department.

After you’re done with your final review, the compensation review owner can conclude the compensation review.

To review proposals submitted to you throughout the compensation review cycle:

1. Select the Final approvals tab in the compensation review.
2. All proposals submitted to you display in a list underneath the Budget overview. 
   • Proposals display in a collapsed state by default.
   • The name of the reviewer associated with the proposal displays as a heading for each proposal.
   • The status of the proposal displays on the right. The following statuses can display:

     • Ready for review - Indicates that the proposal has been submitted and is ready for your review.

     • Rejected, awaiting updates - Indicates that you’ve rejected the proposal and it has been returned to the original reviewer for further action.
     • Reviewed - Indicates that you or the reviewer have marked the proposal as reviewed and approved but have not submitted it yet.
   • You can select Send Reminder to send a notification to the reviewer associated with the proposal.
3. Expand the proposal you want to review. 
4. Review the proposed compensation changes. You can use the following tools to help you with your review:
   • Budget overview and Raise percentage charts - Learn more.
   • Full team overview - Learn more.
   • Visualize compa ratios - Learn more.
   • Budget allocation - see below.
   • Insights - see below. 
5. Once you have reviewed the proposals, you can choose to:
   • Reject the proposal  - Learn more.
   • Mark the proposal as reviewed - Learn more.

After you and any other final approvers have completed your final review, the compensation review owner can go ahead and mark the compensation review cycle as concluded.

To view the budget allocations for a specific proposal:

1. Select the Final approvals tab in the compensation review.
2. Expand the proposal whose budget allocation you want to review.
3. Select the Budget allocation link for the proposal. A Budget allocations panel displays a breakdown of the budget allocations for that proposal.

ChartHop provides you with analytics so that you can view how promotions, raises, and compa ratios were distributed along DEI metrics and by other employee categories such as compensation bands or departments.