Whether you're capturing candidate data via Pay Expectations and Competing Offers, or working to build an Offer, its important to understand how pay elements are defined and how they contribute to apples-to-apples comparisons in Compa.
Pay Elements for Pay Expectations, Competing Offers and Current Pay
Pay element availability is the same for Pay Expectations, Competing Offers and Current Pay modals. You have the option to capture as much data as the candidate is willing to share across a variety of different elements.
Pay elements for these modals are defined as follows:
Also Known As...
Annual salary, base pay, base
Initial salary offered to a candidate, not including benefits, bonuses, or other guaranteed compensation. In the US, typically expressed as 12 month annual value.
Annual bonus, target bonus, cash incentive, short-term incentive
Representative of the org's corporate bonus program where employees are eligible for an annual bonus, based on achievement of corporate and/or individual goals. Expressed as a percentage of base salary or a target amount.
Milestone, spot, patent, referral, project, etc.
Any variable payment a company might offer a candidate that is not covered by other defined pay elements. Typically expressed as an amount.
Moving bonus, lump sum, relocation allowance
A fixed, lump sum amount provided to a candidate to help them manage expenses related to moving from one location to another. (Compa represents a simple cash bonus value - not a benefit inclusive of relocation services.)
New hire bonus, sign-on, starting bonus, hiring bonus, signing bonus
Used to attract employees with hard-to-find skills or as a way to make an employee "whole" if they are leaving money on the table from their previous employer.
Equity compensation, stock-based compensation, share-based compensation, options, RSUs, equity
Noncash payout to supplement employees' cash compensation (salary and bonuses) with shares of ownership in the business. Most commonly awarded in the form of stock options or restricted stock.
Refresher, equity refresh grant, performance grant, annual grant
An incremental grant by a company of additional ownership to an employee who has already received an initial equity grant. Typically used to retain top talent and compete with other companies.
Total comp, total direct compensation, TDC
Within Compa, Total Compensation includes base, bonuses, and equity.
Pay Elements for your Offers
Pay elements for the offers you build in Compa will be based on what your organization provides as part of it's compensation philosophy. Similarly, the definitions of those elements is set by your organization. During implementation, Compa works with your Comp Team to understand your comp programs and configure them appropriately for use in Compa.