OpenComp Knowledge Base
  • OpenComp Knowledge Base
  • Overview
    • 💡What we do
  • Product Guides
    • ✨Scenario Settings
      • Scenario Details
      • Adding Employees to OpenComp
        • Connect Your HRIS to OpenComp
        • Upload Employees to OpenComp
        • Rippling Upload File
      • Create a Pay Strategy
        • Select Your Geographic Strategy
        • Set Target Market Percentiles
        • Specify Range Widths (optional)
        • Job Family or Group-Based Ranges
      • Specify Your Organization's Benefits
      • Benchmarking Employees
      • Define Performance Scale
      • Customize Offer Letter Templates
    • ✨Market Data Overview
    • ✨Ranges Overview
    • ✨Merit Cycles
      • Merit Cycles Set-Up
      • Proposing Compensation Changes
      • Approving Compensation Changes
      • Finalizing a Cycle & Executive Summary
    • ✨Headcount Planning
    • ✨DEI Overview
  • Fundamentals
    • 🛠️Getting set up
      • Add Users to OpenComp
      • Setting permissions
    • The OpenComp Benchmark
      • Geographic Tiers
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      • Job Levels
      • Determining the Appropriate Level
    • Scenarios & Scenario Settings
    • Definitions
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  2. Merit Cycles

Finalizing a Cycle & Executive Summary

This details how to Finalize a Cycle and review its Executive Summary

PreviousApproving Compensation ChangesNextHeadcount Planning

Last updated 1 year ago

Finalizing Compensation Cycle in OpenComp App

1. After an Approver approves a recommendation, the Cycle Owner can Finalize the Merit Cycle by clicking the Finalize button at the top right. In addition, Approvers can review an Executive Summary of the Cycle.

2. Clicking on Executive Summary opens a visually rich summary of the Cycle that provides details on many different dimensions.

3. Additional details include a DEI analysis of the Cycle

4. After reviewing the Executive Summary, the Cycle Owner can Finalize the Cycle.

Cycle Owners can review a visually rich Executive Summary of the Cycle before finalizing
The Executive Summary includes a DEI Analysis of the Merit Cycle
Finalize the Cycle after Reviewing the Executive Summary
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