Compensation Management: Compensation Statements

Compensation statements provide managers with a clear, printable summary of their team members’ compensation changes after a cycle is complete. Once all increases are finalized, you can enable the Compensation Statement so that managers can easily access and generate statements for distribution.

In this article:
Compensation Statements Overview
Enable Compensation Statements
Confirm Manager Access
F.A.Q.
Additional Resources

Compensation Statements Overview

The Compensation Statement is typically enabled after:

• The compensation cycle is fully closed.

• All increases are finalized.

• All managers are marked as Done or Is Finished = Yes.

Enable Compensation Statements

1. Go to Sys Admin, click Configure TalentComp Cycle.
2. Click on the Edit (blue pencil) icon for the active cycle.
3. Update the Comp Statement Print Date:

   • Set it to today’s date or an earlier date for immediate access.

   • Example: If today is 05/26/2023, set the date to 05/26/2023 or earlier to make the feature available right away.

4. Select the correct groups that should have permission to print statements. Note: If you had closed the cycle to managers and are reopening the cycle to managers to download comp statements, please make sure IsMgr is checked in the Open Roles section.

5. Click Submit to save changes.

Confirm Manager Access

To verify that the feature is visible:

1. Go to Your People, click Comp Recommendations.

2. On the Comp Recommendations planning screen, confirm that:

   • The Print Compensation Statements for… dropdown is visible.

   • The Create Comp Statement button appears for authorized managers.

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F.A.Q.

Can we enable compensation statements before the cycle is complete?

It’s recommended to wait until the cycle is finalized to avoid managers generating incomplete or inaccurate statements.

Who can see the Compensation Statement dropdown and button?

Admins and planning managers whose settings Can Login=Y and the effective date has been set to a current date.

Will managers see statements for all employees or just their direct reports?

By default, managers will see statements for employees they have access to in the system, typically their direct reports or assigned planning groups.

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Additional Resources

Compensation Management: Compensation System Launch
Compensation Management: Archive Planning Cycle
Compensation Management: Update Employee Home/Landing Page
Compensation Management: Updating User Role Cycle Access