Compensation Planning
This webpage is designed to provide links and information needed to complete the FY24 Compensation Planning Process. Begin with the Reports and General Information section to access the materials you will need to participate in the planning process.
If you have any questions, contact Grayson Gosney.
For a quick guide on processing merit increases and a combination of pay/job transactions on 8/20 or 9/1, click here.
Reports and General Information
Compensation planning reports, memos with instructions, a sample Pay Plan, the Compensation Framework and FY24 Salary Structures are available in the Compensation Planning Tool located in PeopleSoft.
Pay Plan
Designated Chief Business Officers of each division/school (non-SOM only) should complete the Pay Plan by July 10, 2023.
A sample Pay Plan is provided under the Compensation and Planning Tool in PeopleSoft. You will be contacted by the Compensation Department if additional information is needed and when your Plan has been confirmed.
Online Batch Tool
Upon approval of each division/school’s Pay Plan, merit increases and performance ratings may be keyed in the Online Batch Tool. It will be available for use on July 31, 2023. Refer to the timeline below for the different open/close dates of the tool for monthly and biweekly employees, as well as other key dates.
Reclassifications, Title Changes or Pay Adjustments
If employees are being reclassified or promoted at the beginning of the fiscal year, submit their reclassifications via the eHRAF tool and note their merit increase percentage and performance rating in the Comments section. The Compensation Department will initiate the eHRAF accordingly.
The merit increase and pay adjustment codes will be available in the eHRAF tool 8/1/2023 - 9/30/2023. Use this process for employees with these two actions occurring on 8/20/2023 or 9/1/2023. HR Web should be used to process these actions at other times during the year.
* The Online Batch Tool should only be used for employees for which only one action is occurring on 8/20/2023 (biweekly paid) or 9/1/2023 (monthly paid). If you have employees having multiple actions on 8/20/2023 and 9/1/2023, contact Compensation about how to process. Do not use the Batch Tool for employees having multiple actions on 8/20/2023 or 9/1/2023.
HR Web
HR Web should only be used to key staff merit increases if the Online Batch Tool and eHRAF processes are not appropriate.
Performance Bonuses
Submit performance bonus requests via Payroll Pay Request in HR Web in PeopleSoft. Even though you include them for informational purposes in the Online Batch Tool, they must also be submitted via HR Web to be paid by the established deadlines.
Range Max Payments
For all employees receiving a range max lump sum payment, complete the Over-Max Payment Form and email it to Grayson Gosney by September 1, 2023.
Timeline
Non-SOM Key Dates/Deadlines for FY2024 Compensation Planning
Event | Bi-Weekly Staff | Monthly Staff |
Pay Plan Description completed in Survey Monkey (by designated Chief Business Officers – Non-SOM) | 7/10/2023 | 7/10/2023 |
Online Batch Tool available to key merit increases and performance ratings | 7/31/2023 | 7/31/2023 |
eHRAF is available for merit increase/pay adjustment combination of actions (closes 9/29/2023) | 8/1/2023 | 8/1/2023 |
Effective date of merit increases | 8/20/2023 | 9/1/2023 |
Deadline for all approvals to occur for bonuses to be paid w/FY2023 money; submit through HR Web Pay Request process | 8/21/2023 NOON | 8/25/2023 NOON |
Final date to key performance ratings, merit increases & bonuses in online tool: BATCH TOOL CLOSES | 8/23/2023 11:59 p.m. | 9/13/2023 11:59 p.m. |
Upload of merit increases & performance ratings to employee records from online tool and pay rates adjusted to FY2024 range minimum, if applicable | 8/24/2023 – 8/30/2023 NOON | 9/14/2023– 9/20/2023 NOON |
Range Maximum Payment Requests due to Compensation | 9/1/2023 | 9/1/2023 |
Deadline for all approvals to occur for bonuses to be paid w/FY2024 money; submit through HR Web Pay Request process | 9/5/2023 10:00 a.m. | 9/25/2023 NOON |
First payroll run of FY2024 | 9/5/2023 | 9/26/2023 |
Pay date of first payroll for FY2024 | 9/8/2023 | 9/29/2023 |
Range Maximum Payments (OMX) received by eligible staff | 9/22/2023 | 9/29/2023 |
eHRAF closes for merit increase/pay adjustment combination of actions | 9/29/2023 | 9/29/2023 |
All links and instructions are available in the Compensation Planning Tool in PeopleSoft.