How do I build a total compensation plan in my HR Library?
1. Begin by logging into your Journey Online Payroll (PPx) account. From your dashboard, click the “Tools” tab in the top right-hand corner.
2. Click “HR Support Center” to access HR360.
3. From the HR 360 dashboard, click the “HR apps & Tools” tab.
4. From the “HR Apps & Tools” page, click “Total Compensation Statement Builder” from the menu on the left hand side.
5. You will see a summary of what can be included in your compensation document. To begin, click the green “Get Started” button.
6. You can either upload a list of employees, or you can do a compensation plan for an individual employee. For this example, we are going to build an individual plan.
7. Begin by filling out the employee’s information, the manager building the plan, and the start date of the total compensation plan. If you do not want to upload images, click “no” under each option. If you are including images, click “browse” to find your image, and then click “upload” to add the images.
Note: If you have “yes” selected to add images, you cannot continue until you click “upload” for each image.
8. After your images are uploaded, click the “next” button
9. The next step will take you to a cover letter that will be included with your total compensation package. You can edit this letter as necessary. Click the “next” button when you are satisfied with your cover letter.
10. The next page covers employee expenses. In the “compensation” section, you will enter the employee’s annual salary, as well as any commissions, overtime, bonus, and other optional compensations. The total compensation amount will show at the bottom, and below the total compensation you can choose to enter the amount of their taxable wages.
Note: all of these amounts are per year.
11. The next section of this page will include benefits and insurance. Follow the categories and enter in the amounts that apply and leave any that are not offered at “0.” The total amount of insurance offered will show as an annual dollar amount in the bottom box.
Note: All of these amounts need to be entered as per month amounts, but the total will show as an annual amount.
12. The next section covers mandated benefits, where you will enter the worker’s comp amounts. If you entered in the taxable wage amount in the compensation section, the tax amounts will automatically calculate for you. These amounts are entered as percentages or per year, and the total mandated benefit amount will show in the bottom box as an annual amount.
13. Retirement Benefits and Work/Life benefits are the next categories. For the retirement categories, you can select to enter the amounts as percentages or dollar amounts by clicking the appropriate radio button above each category. The total amount of retirement benefits will show as an annual amount in the bottom box. All of the work/life amounts will be entered as per year amounts.
14. The miscellaneous category is going to cover any memberships that are offered. If you pay for employee parking, gym memberships, adoption assistance, or other miscellaneous benefits, enter the monthly amounts here. Click in the left-hand columns to change “Optional” to an appropriate title for your benefit. The bottom will total your miscellaneous Benefits in an annual amount.
The PTO category will calculate in either days or hours, depending on which radio button you select under “Employer.” This is where you will enter the amount of time you offer for each category. The total PTO will calculate the total amount of Paid Time Off hours or days.
15. Your total amounts for each category will show under your Summary section. The very bottom box is a comprehensive total of all information added on this page to calculate the total compensation amount. If this total does not seem correct, double-check your other amounts. When everything looks correct, click the “next” button.
16. The Summary page will show your cover letter, the date the total compensation plan is active, and the total amounts for each compensation category. Make sure everything looks correct. If it does not, click “Prev” to edit information. If everything in your summary looks good, click “next.”
17. The Generate/Save Document page allows you to customize your document and select whether you would like a PDF file or Word document. Click the template of which format you would like to use. You can also use the “select document colors” section to further customize the look. If you need to edit information, you can click the “prev” button, or you can click “start over” to start over on your compensation plan.
18. When you scroll down on the page, you can get a better idea of what your document will look like if you click the “preview sample statement” button. Once you are satisfied with the look of compensation plan, click the “generate and download” button. Once downloaded, save the document in a safe file.
