As part of Figure's Compensation Review module, you can run off-cycle reviews to adjust salaries outside of the standard review cycles. This guide will help you understand its purpose and how it works.
Purpose of allowing off-cycle review in Figures
Operational efficiency and consistency
Handle off-cycle compensation adjustments with the same streamlined approach as annual reviews. Set up a clear approval process to enhance collaboration, reduce back-and-forth, and improve control.
Pay transparency and justification
Track and document all off-cycle adjustments to ensure compliance with compensation guidelines and provide equitable treatment for all employees.
Budget control
Avoid overspending with a clear budget overview of off-cycle adjustments and their financial impact, ensuring decisions stay within budget limits.
When to run off-cycle reviews
You may need the ability to give employees raises for various reasons:
Off-cycle promotions: when an employee is promoted and needs a salary adjustment.
Counter-offers: to retain employees who receive external job offers.
Market adjustments: aligning with external compensation benchmarks.
Salary band adjustments: updating salary bands within the company, following market evolutions.
Job or responsibility changes: adjusting compensation based on new roles or responsibilities.
Correction of pay inequities: addressing discrepancies in pay.
Team reorganisations: Adjusting salaries due to team structure changes.
Methodology
Permissions
| Admin | HR | Manager | Employee |
Can configure an off-cycle review | ✅ | ❌ | ❌ | ❌ |
Can request an off-cycle review | ✅ | ✅ | ✅ | ❌ |
Can approve* an off-cycle review | ✅ | ❌ | ❌ | ❌ |
Can review an off-cycle review | ✅ | ✅ | ✅ | ❌ |
Can update the reviewers chain | ✅ | ❌ | ❌ | ❌ |
*By approving, we mean validating the request itself, not the outcome of the off-cycle review; the review process begins only after the admin approves the initial request.
Configuration (admin only)
Go to Compensation review
Click Configure off-cycle reviews at the top right
Check admins list and add ad-hoc admins if needed by clicking Add new campaign admins
Define a custom currency exchange rate if needed
Set up the appropriate number of reviewers and final reviewer for all your off-cycle reviews campaigns. On a case-by-case basis, admins can modify this chain later when approving an off-cycle review request.
Set up as many promotion compensation guidelines and recommendations as you like by clicking Add promotion guideline at the top right.
Do the same for Salary increase guidelines.
Add comments or any relevant information for your reviewers in the reviewer general guidelines section.
Communication - When the status of an off-cycle review is updated, Notifications will be sent by email to the relevant recipients.
Request an off-cycle review (all users)
Go to the People Tab
Open the employee profile of your choice by clicking on their name
Click Request off-cycle review
Select the reason, effective date and add a comment to provide context to approver and reviewers.
Once you’ve sent your request, admins of your Figures account will receive an email notification and approve or refuse your request. If your request is approved, reviewers following the reviewer chain will receive an email notification.
Approve an off-cycle review (admin only)
There are 2 ways to get notified when an off-cycle review has been requested:
By receiving an automated email.
In Compensation Review, go to the Off-cycle reviews tab, the request will appear in Pending requests.
When opening the pending request, the generic reviewers’ chain set up in the configuration will be applied. To modify it, select the reviewers’ names in the drop-down menu.
Approve or decline the request.
If approved, reviewers will receive an email informing them their review is pending.
If declined, the person who requested the off-cycle review will be notified by email.
You can find past and ongoing reviews in the All reviews section of your module.
Review an off-cycle review
There are 2 ways to review an off-cycle review:
By clicking the link you received through an automated email.
In Compensation Review, you’ll find reviews pending for your review in Your tasks
When opening the pending review, follow the the same review steps as for annual compensation reviews.
Once you’ve submitted your review, the next reviewer will be able to proceed to the review.
You can find past reviews in the Past campaigns tab of any employee profile, including off-cycle and annual reviews to track salary history.
The review methodology works the same as standard compensation review campaigns.