The different pay types which are supported currently are:
- base – base salary
- variable – Commission, incentive schemes, objective programs, etc
With both of the above types, we display a timeline of the history of updates to that pay type in their respective sections. See below under the Timeline section for more details.
Current value
The current value of the pay type is calculated towards the person’s overall total compensation. This number is collected in slightly different ways.
If the type is being calculated to a person’s overall compensation, then you will see the number in the top right corner of the section, and also displayed in the sidebar tab for that pay type.
Currency selection
If a rewards letter is not in USD, you can provide an option for the employee to switch between currencies. There is a dropdown list to select the currency in the Overview section at the top of the page.
When selecting a conversion currency, your base salary section will show the converted salary and your original salary.
You can hover your mouse over the small "i" to see the conversion rate.
Pay types
Base
Base, or base pay, typically refers to a person’s base salary.
How is base counted towards Total Compensation?
We choose the base pay item with the latest date as the value to count towards a person’s total compensation.
For example:
|
Date |
Amount |
|
2021-05-09 |
80,000 |
|
2021-08-20 |
82,400 |
|
2021-12-12 |
86,520 |
In the above list, £86,520 is used as the person’s current salary as it was awarded most recently. This is regardless of the year. If the year is 2022 but the latest pay item was from the previous year, that pay update will still be added to their total compensation. At the moment, the only way to remove a person’s salary is to award them a salary of $0 in your HRIS.
Hourly pay
Most of the time salaries are reported as annualized figures but we also support hourly pay as well. If you have hourly employees please get in touch with your Customer Success Manager and/or Implementation Manager to get this set up!
Monthly pay
Pave does support monthly pay, however, there is no UI change for when a person’s pay amount is monthly. Pave will simply display the amount that is returned from the person’s data via the HRIS integration.
Variable pay
There can be multiple variable pay compensation items for a user. This simply depends on what we get back from the integration. E.g. “Actual Commission” and “Target Commission” could be two separate compensation items in the user’s payload. Each item will be displayed in its own panel within the user’s portal.
Bonuses
There can be multiple bonus compensation items for a user. This simply depends on what we get back from your integration. E.g. “Relocation Bonus” and “Signing Bonus” could be two separate compensation items for a user. Each item will be displayed in its own panel within the user’s portal. These sections work and look very similarly to the base and variable sections.
For questions about setting this up, please reach out to your Customer Success manager, or contact our support team here!
Total compensation counting
How is variable pay counted towards Total Compensation?
Variable pay is counted towards Total Compensation in the same manner as base salary is. For each variable pay item, Pave will include the item with the latest date as the value that is counted towards the employee’s Total Compensation.
Timeline
Timelines are used in the section to display a visual representation of how base pay and/or variable pay has changed over time.
- This card represents a single update to the person’s compensation. In this case, the year was 2023 and the original amount was £38,000 (converted to USD – see below). (Note: It’s possible to have multiple items per year.)
- The two numbers show that the person was awarded pay updates in different currencies. The smaller number at the bottom shows the original amount in the original currency, while the larger number shows what that amount equates to in the person’s selected current currency. This is useful for when a person has moved locations and so their pay was updating in multiple currencies. Hovering over the tooltip will show the exchange rate on the day the pay update was received.
- Shows the current pay and the one that will be counted towards the person’s total compensation. This will always be the last item in the list of pay updates, since these are sorted by date.
Additionally, we can also show notes in each of the cards containing details about why the pay update was made, e.g. “Pay increase after annual appraisal”. If this is something you’d like to do, please get in touch with your Customer Success manager, or contact support here!