Looking for something snazzy to provide your employees following the completion of your company's compensation cycle? 💎 Pequity can help with that!
As a company admin, you will have the option to generate Reward Letters directly in the Pequity app. Follow the steps below to get to crafting!
1️⃣ From the Admin Dashboard of the comp cycle, select Reward Letters in the top right corner.
2️⃣ From here, you can customize your reward letters with the following elements:
- Company logo
- Body Text
- Signatory Name
- Signatory Title
- Signature image (optional)
- Issuance date (optional and only applicable if equity is included in cycle)
- Salary effective date (optional and only applicable if salary is included in the cycle)
- Legal disclaimer (optional)
When you have finished making the customizations you'd like to your reward letter template, select "Save" in the top right corner.
💡 All of the above Content Elements (on the right hand side of the letter) will remain the same across all generated letters, so be sure to choose verbiage that can cover all use cases when customizing your letter.
💡 The Overview Section (on the left hand side of the letter) outlining the new pay components will be dynamic based on the employee's reward. For instance, if the employee received a promotion during the cycle, the promotion overview section will display. If they did not receive a promotion, this element will be hidden for their letter.
3️⃣ Although the above customizations can be made at any point during the cycle, the letters cannot be formally generated until the cycle is in a "closed" status. To review how to close a cycle, please refer to this help article. Once in a closed status, you will be able to select the "Generate" button in the top right corner.
After selecting the Generate button, you will see a message that the reward letters are being generated.
4️⃣ Once the reward letter generation is complete, the admin who triggered the generation will receive an email notification.
5️⃣ Follow the link to the cycle and you will notice a Download button next to each employee who has an eligible increase. Selecting this will download the individual reward letter for that employee.
💡As an admin, you will also be able to:
- Download all reward letters into one zip file.
- Choose whether to display the letters for individual employees to planners.
⛳️ At this time, letters must be downloaded in Pequity and distributed outside of the tool, though we do plan to look into email distribution in the future.
Happy distributing! If you have any additional questions, don't hesitate to reach out to Pequity Support. We'll be happy to point you in the right direction.