Why are compensation templates useful?
Compensation templates enable you to build standardized, scalable processes, so you save time and effort with reusable templates and workflows. They build a foundation for objective, data-informed compensation, and promotion decisions.
Take a look at this article for more information on how to create a compensation template.
How to use an active compensation template
Once you have created and activated a template, it will become visible in the 'templates' section for admins. From here, you can click 'Create cycle' to create a draft cycle based on the template.
What can be edited when I use a template?
Admins will be able to edit all template settings when setting up a cycle, they can:
- adjust approvers
- select participants
- add additional recommendation rules
- update the timeline
Take a look at this article for more information on how to use a compensation template to create a compensation cycle.