[Legacy] Generate Bands from Market Data

Before you get started:

• Set up your job structure and at least one pay zone via the Pay Zone Manager
• Set up your market data mapping and fill in any gaps or issues in your market data

Generate a new band set from market data

There are two entry points where you can create a new band set from scratch:

• Navigate to your Band Sets home page and select Create Draft > Generate band set from market data

  

• Navigate to the Market Data tab and select Apply Benchmarks > Generate band set from market data

  

Name band set & select pay types

Set the pay types you want to use in this band set. We will generate band values if there is market data associated to those jobs.

• Name your band set

• Select pay types you want to use in your band set

• You can generate bands for these pay types directly from market data:

• You can add these pay types to your band set as columns, and upload the values later.

Specify how the band values should be generated per pay type

• Select how to structure the band - as min mid max, min and max, or mid only

  CleanShot 2024-09-20 at 06.59.14@2x.png

:::info Note: If using min and max, certain functionality such as employee compa ratio and range penetration will not be available. If just using mid, certain functionality such as the band visual in Band Manager, Plan, and Team Dashboard will not be available.

:::

• Select how to define the band values
  • Using Benchmark as midpoint: Create create the band based off of the benchmark you’ve defined during market data mapping. This is the most common way to build the band.

    • Set the band width: If you’re using min, mid, max or min & max, set the band width as a percentage on either side of the mid to define the min and max of the band. Select “All levels” if you want all levels to have the same band width.

      • Example: if you wanted band width to be 15% from min to max, then you would add 7.5% from min to mid and mid to max. Min: 85,000 | Mid: 100,000 | Max: 115,000, Band Width = 15%, % from Min to Mid: 7.5%, % from Mid to Max: 7.5%

        

    • (Optional) You can differentiate band width by level, for example if you wanted Manager levels to have a higher band width than IC levels.

      

  • Use percentiles as min, mid, max: All percentile options associated with your jobs are available in the drop down. Band values for a job will be created from the median of all the market data associated with that job at that percentile.

    • For example: Set the min= 25th percentile, the mid = 50th percentile and the max = 75 percentile would create the min/mid/max based on the median of those percentiles associated with that job from market data mapping, if their is a value present.

      

  • Leave values blank and upload later: If you do not want to generate this pay type directly from market data or do not have market data set up for this pay type, use this selection to generate blank columns which you can upload values into on the band set level.
  • Option to round bands: Choose to round the bands to the nearest 100, 500, 5000, 10000

Select the jobs or pay zones that should have this pay type

• All jobs: All jobs at your organization will have this pay type and a band generated from market data.
• Specific jobs: Select distinct groups of jobs or pay zones that should have band generated for this pay type based on the selections you’ve made above.
  • Example: Only your Sales jobs and Manager tracks variable pay. For variable pay, select Function is Revenue OR Ladder Track is Manager
• You must complete your selections for all pay types you’ve added to the band set before selecting “generate.”
• Note: If using min, mid, max or min & max, when generating bands, if the band values are invalid due to the market data being greater for the min than the mid, etc., we will not generate values for the band and the band will be left blank.

Select “Generate” to generate your new band set

Generate and view your new band set

• Review your new band set and make edits using the bulk edit toolbar.

  

For instructions on updating bands using a CSV upload, please review this article.