Maya Chen· Compensation Manager, Halcyon Financial Group
Posted in Compensation ·
Requests for off-cycle adjustments used to arrive as an email saying somebody deserves more. At our software company in Ireland, about 700 people, we replaced that with a single page the manager must complete.
It asks five things: current salary and compa-ratio, the same for the three nearest peers, the reason from a fixed list, what happens if we do nothing, and which budget pays for it. Reward fills in the market position before it goes for approval.
Requests fell from about 90 a year to 44. Most of the drop came from the peer comparison. Managers who look at the three nearest colleagues often withdraw the request themselves or change it to a team-wide case. Happy to describe any section in more detail.
6 helpful · 1 insightful · 1 agree · 2 replies · 350 views · 3 following
Compensation Consultant, Cardinal Insurance
The peer comparison is a clever touch. Do managers see peers outside their own team? Ours only have access to their direct reports' pay, so reward would have to fill that section in and it loses the self-correcting effect.
Colin WalshWWP, CBS
People Analytics Lead, Kestrel Aerospace
We let them see the range of the three nearest peers, lowest and highest compa-ratio, without names or exact salaries. Reward pre-fills it when the peers sit under another manager. It is less powerful than seeing the numbers but still stops most of the weak cases.
