GoCo allows you to add past, present, and future employment and compensation changes. This helps you:
- Give someone a raise by adding an employment change effective in the future. GoCo will automatically update the employee’s information on the effective date you choose!
- Add past historical changes by adding an employment change with an effective date in the past (ie- full-time to part-time moves, etc...).
- Immediately update employment and compensation by making the changes effective today.
Get started by clicking on the Make Changes link under the Employment & Compensation card from an employee’s profile.
Once you hit the Make Changes button, you will be taken to the Employment Change Wizard to input the date this change will take effect & the reason for the change. When ready hit the green continue button at the bottom of your screen.
You will now be on Step 2, Make Changes. Here you will update any employment and compensation information you wish, such as updating Wage Rate or changing Managers.
When making changes, you will also see how your changes will affect benefits and payroll.
When you make an employment or compensation change, GoCo will show you how your changes will affect the employee’s benefits eligibility, and when their changes will be synced to payroll.
Benefit changes could include:
- Gaining Eligibility – the employee will be offered benefit coverage to enroll.
- Losing Eligibility – the employee’s benefits coverage will be canceled.
- Changing Plans – the employee will be asked to enroll in a new plan.
- No Change – the employee’s benefit won’t be affected by your changes.
Continue through the Employment & Compensation Wizard until you reach the Review & Finish page. Here you will confirm the changes you want to make and finish the process.
Once you're ready, simply hit "Review & Finish"!
View employment and compensation history
You’re able to view how the employment and compensation of an employee has changed over time. Each set of changes will show you the effective date, a list of changed fields, who made the change, and their reason.
This allows you to easily track employment changes, such as:
- Compensation changes, such as salary, hourly rate, and stock options
- Department and location changes
- Employment status changes such as part-time and full-time
- Time off policy and payroll schedule changes
- Company class changes used for benefit eligibility
- and more!
Check out our Mini Training Crash Course on how to use this feature below!
For any additional questions, please reach out to help@goco.io or your CSM. Happy Hiring! 💚