Once you've created and finalized your budget, you can use the Salary Review Statement feature to effortlessly customize communications to your employees about salary increases.
- Only company admins can access BalancedComp and perform these actions.
- Learn how to Download and Email Salary Review Statements from Scenarios here.
- Learn how to Download and Email Salary Review Statements from Budgets here.
- We cover special considerations you should be familiar with after the steps listed below.
What is a Salary Review Statement?
A Salary Review Statement is a document showing an employee what kind of change in salary they will be receiving based on a particular scenario or budget. These can be generated for all employees in a scenario, all employees in a budget, or for individual employees. The Salary Review Statement consists of:
- Employee details such as their position, supervisor, and performance score
- Details of their increase, including current wages, increase amount, and new wages
- An optional salary range penetration graph
- A quick letter to the employee
- Optional, customizable signature lines
How to Customize the Template
- In BalancedComp, click Settings in the main nav. Then, click Salary Review Statement in the subnav.
- On the Salary Review Statement Preview page, click Edit Salary Review Statement.
What all can you customize?
- Whether or not to display the employee’s performance score
- Whether to include the Salary Range Penetration graph.
- The letter’s greeting, body content, and closing.
- Up to three signature lines.
How can you customize a Template even more? Use merge tags within the letter
While it's nice to only configure a letter once and send it out to every employee, there needs to be at least some level of personalization to these letters, right? That's why we've included some tags that you can use to pull in information about the employee.
You can click on these buttons on the left-hand side of the screen to copy the merge tag. Then paste it in any of the available fields on the page.
When you include these tags in the letter portion or in a signature line, we will automatically replace the tag with the appropriate data for each salary review statement.
Special Considerations
A word of caution on printing
If you print your salary review statements, and they are long enough to split from 1 page to 2, you will probably be unhappy with how they look.
If you notice this happening, simply go back to Settings > Salary Review Statements, and edit the body of the letter portion down until it is short enough not to push the statement to 2 pages.