HRLocker Compensation and Benefits

Comps and Bens, Salary, Bonus, Benefits

The Compensation and Benefits (Comps and Bens) feature in HRLocker allows you to manage various aspects of employee compensation, bonuses, benefits, and related documents. 

Salary Management

Salary Tab in Employee Directory

In the Comps and Bens tab of the Employee Directory, you can add and edit employee salaries. Here are the details you can specify:

• Amount: Enter the salary amount.
• Pay Frequency: Choose the frequency of salary payments.
• Effective Date: Specify the week when the new salary becomes effective.
• Cost Centre (if set up): If payroll reporting is set up, you can assign a cost center to the salary.

HRLocker keeps a log of changes made to employee salaries. This log includes information about the date of the change and the user who made the change.

Bonus Management

Bonus Potential

You can set and manage bonus potential for employees. This includes specifying:

• Effective Date: When the bonus potential becomes effective.
• Currency: The currency for the bonus.
• Value: The value of the bonus.
• Changed By: The user who made the change.
• Notes: Any additional notes related to the bonus potential.

Bonus Earned

If payroll reporting is set up, you can record and manage bonuses earned by employees. This includes specifying:

• Payment ID: A unique identifier for the bonus payment, if payroll reporting is set up.
• Cost Centre: Linking the bonus to cost centres, if payroll reporting is set up.
• Currency: The currency for the bonus.
• Value: The value of the bonus.
• Effective Date: When the bonus is earned.
• Notes: Any additional notes related to the bonus earned.

Benefits Management

Office-Level Benefits Configuration

Admins/managers can set up benefits at the office level in office settings. Benefits can be created and assigned to offices, departments, or individual employees.

• Payment ID: If payroll reporting is set up, you can assign a payment ID to benefits.
• Cost Centre: Link benefits to specific cost centers for payroll reporting.

Individual Benefit Assignment

You can assign benefits individually to employees through the Comps and Bens section. This allows for personalized benefits management based on employee needs.

Document Management

The Comps and Bens feature also allows you to add and manage documents related to employee compensation and benefits. This feature helps you keep all relevant documents organized and easily accessible.

Reporting

HRLocker provides several reports related to Compensation and Benefits in the Employee section of reports:

1. Directory Export: This report provides information about employees, including salary, bonus, and benefits.

2. Salary History: It offers a history of employee salaries, allowing you to track salary changes over time.

3. Current Salary: This report shows the current salaries of employees.

4. Bonus History: It includes information about bonuses earned and bonus potential according to effective dates.

5. Benefit History: This report tracks the history of benefits assigned and removed from employees.

6. Employee Cost: This report provides a breakdown of employee costs, including weekly working hours, currency, gross salary, and other costs. Admins/managers can set employer costs at the office settings level or individually in the employee's directory.

If you have any questions or need further assistance with this feature or any other aspect of HRLocker, please don't hesitate to contact our support team for help.