A simple and structured approach to salary changes
With Mindkey’s compensation review module, HR and managers gain an efficient and transparent tool to plan, adjust, and approve salary changes. The module supports both simple and advanced salary models, while offering full flexibility in budget management.
What does the compensation review module offer?
Create a salary plan
Start by setting up a salary plan quickly and intuitively. Begin by selecting the relevant employees and assigning responsible managers. Once the participants are in place, you define the key salary plan elements and distribute the budget across departments. Salary history can easily be imported from MindKey or Excel, ensuring that all necessary data is available from the beginning.
Tailor salary models to your needs
The plan supports both simple and advanced salary models, depending on the complexity required. A simple model allows you to calculate the new base salary by adding a defined increase to the current salary. For more advanced needs, the system supports dynamic calculations of allowances and gross salary, with built-in fields for computations, difference tracking, and percentage changes, providing full flexibility in how salary adjustments are managed.
Enhance budget overview
Budget control is streamlined through automatic calculations of total salary figures and the ability to adjust budget percentages as needed. Managers receive clear visual indicators showing whether they are within or over budget, using green and red status markers. To reinforce control, the system can be configured to only allow the plan to be saved if the defined budget constraints are met.
How the compensation review works in practice
Configure plan elements
Define relevant salary fields - e.g., current and new base salary, allowances, calculations, etc.
Select employees and managers
Choose participants through a planning interface and manually assign responsible managers.
Import salary history
Pull data directly from the system - or use a template to upload from Excel.
Allocate budget
Use the "Allocate Budget" function to define limits - both overall and per manager.
HR initialization of new salary or allowances
Use the feature to preset increases or apply current allowances to all employees before managers receive the plan.
Manager review and calibration
Managers are invited to make adjustments. Reminders can be sent, and the system guides users with visual indicators and validations.
Finalize and transfer results
Once review and calibration are complete, results can either be pushed directly back into MindKey to update employee records or be exported to Excel for further processing or sharing with Finance.
Benefits for HR and Managers
Mindkey ensures a consistent and structured salary process across the entire organization. Clear role distribution between HR and managers creates transparency and accountability at every stage. With flexible setup and calculation options, the system adapts easily to company needs. Most importantly, Mindkey increases transparency, strengthens control, and saves time by eliminating manual spreadsheets and repetitive tasks.
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Book demo
Would you like to see how Mindkey can work for you? Book a demo where we present the system and focus on your daily workflows and needs.