This is your streamlined way of ending your compensation event before you Request compensation eSign letters and update employee profiles. Once all worksheets have been reviewed by the relevant stakeholders, and are approved for final review, their status will show as Pending approval. The Admin can then move forward and get the event formally approved by the event’s approver(s).
Note: An Admin can submit all worksheets on behalf of Planners/Reviewers, progressing their status until it reaches Pending approval status.
How to end a compensation event
- Ensure that all worksheets have a Pending approval status. Learn more about worksheet statuses.
- On the event’s main page, click the three-dot menu, then click Share with approver. The final approver will get a notification that the event is ready for their approval. The approver(s) can enter the event and can choose to review all worksheets at once, send back individual worksheets, approve all worksheets by selecting all of them or gradually approve by selecting multiple worksheets.
- From the Actions dropdown menu, approver(s) can then click Approve. Once the event is approved, all worksheets' statuses will be Approved.
If there are multiple event approvers, they will be shared one after the other as set by the Admin as per Step 1: Details in Set up a compensation event. Once the first event approver has approved it, it will move on to the following event approver(s). Once the final event approver has approved it, then the event will be approved and the worksheet status will change accordingly.
- Decide whether employee cards should be updated or ask for a signature via eSign: click the three-dot menu, and click either Update all in EE card or Request signature.
If you choose not to update employee cards, the event will be approved but not ended, which is also suitable. An example of a case where you may not want to update employee cards from the compensation event is if you have different effective dates for some employees, or if some employees left during the event.
Tip: While these options are standalone and not dependent on one another, we recommend you update employee cards only once all the event’s decisions were verbally communicated to employees, and eSign letters have been sent.
- If you selected to update employee cards, you may then click the three-dot menu and then End event.