A key element in preparing the compensation review is ensuring that your data is complete and accurate. In this article we will focus on four aspects of your data readiness.
Checking manager assignments for employees
Why it’s important
By default, we assign employees' reviews to their managers, the second reviewer to the second manager in line, and so on. If this is the common process you’ll follow, then it's essential for us to know your entire managerial hierarchy to assign reviewers appropriately.
Fixing missing managers
In any company, not everyone has a manager, and it's okay to have a few gaps, depending on your organisation. For instance, the company CEO is unlikely to have a manager.
If you have an active integration between your HRIS and Figures
The first step is to check your HRIS. Ensure that every employee profile includes a designated manager. Once you've confirmed that all employees in your HRIS have managers assigned, the next step is to synchronize this data with Figures. You can trigger this synchronization from the 'Account / Integrations' menu in Figures. This action will import the updated hierarchical data, seamlessly integrating your HRIS information into Figures.
If you don’t have an active integration
If your system isn't integrated with an HRIS, manual updating is necessary. Start by creating a spreadsheet listing each employee alongside their corresponding manager. Ensure accuracy in this list, as it forms the foundation of your organisational structure in Figures. Manager permissions rely on this data.
After preparing the spreadsheet, the next step is to import this data into Figures. For assistance with this process, please contact our support team via Intercom, as there isn’t any customer-facing solution in the product at the moment.
Incorporating performance ratings into compensation reviews
Why Performance Ratings Matter
Performance ratings are a pivotal factor in distinguishing between the contributions of different employees. While this step is not mandatory, integrating performance ratings into your compensation review allows you to offer nuanced recommendations and guidance to managers. This ensures that raises and bonuses are allocated fairly, recognising the efforts and achievements of each employee.
Importing Performance Ratings into Figures
To enrich your compensation review with performance data, Figures offers two primary methods for importing these critical ratings:
For Users of Culture Amp
Direct Integration: If you utilise Culture Amp for performance management, integrating it with Figures is straightforward. Simply navigate to the 'Account / Integrations' page within Figures and connect to Culture Amp. This direct link allows for the automatic import of performance ratings, streamlining the process and ensuring that your compensation review is informed by the most current performance assessments.
For Those Not Using Culture Amp
Spreadsheet Upload: Should your system not be integrated with Culture Amp, you can still incorporate performance ratings by uploading a spreadsheet. This document should list each employee alongside their performance rating. Figures is designed to be adaptable; thus, you can employ your own performance scale. Our system will adjust accordingly to accommodate your specific metrics.
To import your performance ratings, navigate to 'Account' > 'Integrations' and select 'Import a spreadsheet' under 'Connect your performance management system'. Simply follow the on-screen instructions to complete the process.
Managing variable pay during compensation reviews
If your company adjusts variable pay during compensation reviews, it's essential to ensure that Figures is up-to-date with the latest variable pay data for your employees.
Importing Variable Pay Data
For integrations: If your HRIS system is integrated with Figures, verify that the latest variable pay data has been correctly synced. You may need to check your system to confirm that recent changes or updates to variable pay components have been captured before initiating a sync with Figures.
For manual updates: If your system is not integrated, or if you prefer to update this information manually, you can upload a spreadsheet detailing the variable pay for each relevant employee.
Contacting support for assistance: Should you encounter any difficulties or require assistance in updating this data, our support team is available to help. Reach out for guidance on importing your variable pay data or ensuring that your Figures account accurately reflects the latest information.