You can update your compensation bands as your organization changes. For example, you may need to add a compensation band for a new function brought into the organization. Or you may start hiring employees in different regions and need to add a multiplier to ensure fairness and accuracy for your salary ranges across the company.
If you need to add, delete or rename individual bands, you can do so by downloading your current bands in spreadsheet form. You then make any changes and re-upload the spreadsheet to import the changes.
You can make global changes by renaming org levels, setting currency rounding, or changing multipliers by editing global settings.
To delete or add new compensation bands, you can download, edit, and re-upload a spreadsheet. This is helpful when making significant changes to particular bands.
To update your bands with a spreadsheet:
If your organization renames the levels of organizational groupings you use for compensation bands, you can update ChartHop to use the new names. For example, If you now refer to "divisions" as "cost centers" or some other name, you can update your compensation bands to reflect your new names.
You can only rename existing levels. If you want to create additional levels, you'll need to make that change with a spreadsheet upload.
To change the names of your structure levels:
You can set the display of monetary amounts to round when displayed. This provides a smoother look for your graphics. When you enable rounding, it only affects the value that is displayed not the actual amount. The default is to round to the nearest unit of your currency.
To enable rounding:
You can change the amount calculated for hourly wages by updating the number of hours and weeks worked during your work year. For example, if you move from a 40-hour work week to a 30-hour work week, you can update that value and your anualized hourly wages update accordingly.
To update hourly wage amounts: