Curious how Compaas Rewards Budgets work? Here is more information for HR Admins, Slate Owners, and Approvers.
HR Admin Budget Terminology
The base raise is an opportunity for the compensation and/or HR team to adjust an employee(s) compensation prior to the compensation cycle being open to managers and approvers. A base raise could be provided to an employee who was just re-leveled and needs to be brought into their job function salary band or for a market adjustment. The base raise is separate from a manager or approvers budget.
This is the total budget roll-up for a compensation cycle, which includes slate owner budgets and approver budgets.
Budgets can be set at the individual slate owner level (e.g. 5% for every eligible employee in any given slate OR this slate owner has $10k for his team for this comp cycle) OR it can be set at the Approver level (e.g. As an approver of 4 slates, I have a maximum of $25k to approve and allocate across those 4 slates).
The Slates header in HR Admin view reflects the total budget of all slates in a given compensation cycle.
The Approvers header reflects any additional budget an approver may have that is an extra amount to spend on top of the slate budgets.
The Allocated Header reflects the current allocation of compensation changes suggested by slate owners/approvers.
Remaining reflects the remainder of the Budget. This amount will change as compensation adjustments are recommended by Slate Owners and Approvers. NOTE: if slate owners and approvers have recommended an amount that exceeds the company budget, a negative value will appear in this category.
Slate Owner Budget Terminology
A slate owner will see “Budget” in the header of your slate homepage. If a budget is not applied and compensation adjustments suggestions are at the slate owner’s discretion, “No Limit” will appear. If a predetermined budget has been set by leadership and HR teams, a dollar amount will appear instead. This is the budget for the employees within this slate. It is not enforceable by Compaas Rewards. A slate owner may be able to exceed your budget. A slate owner may also not use all of their budget.
The sum of all compensation adjustments suggested by the slate owner within the slate will be reflected here.
If a slate owner has a predetermined budget, the amount of the budget minus the allocated amount will be reflected here. NOTE: If a slate owner exceeds the budget, a negative number will be displayed here reflecting the difference.
Approver Budget Terminology
The amount under “Budget” reflects the combined budgets within the slates an approver is assigned to approve. Occasionally, an approver will be provided with an additional budget to allocate on top of what a slate owner has already recommended.
As an approver, you might have an extra budget for providing additional compensation modifications to employees in the slate(s) within your slate approval chain. This amount is in addition to the formal budget amount.
The allocated amount reflects the total sum of compensation adjustment recommendations made by the slate owner(s) within an Approver’s approval chain.
Not sure which user category you belong to? See our Compaas Rewards Glossary