During the course of an employee’s tenure with your company, you may want to provide annual increments or promotions to your workforce.
With Multiplier, you can easily revise employee salaries in just three steps.
1. Select the employee whose salary needs to be revised
2. Enter the revised salary, job title, and/or additional compensation (as applicable)
3. Review the details and send the addendum for the signatory’s signature
Multiplier Entity:
The admin must send the addendum for the signatory’s signature
Both the signatory and employee must sign the addendum
EOR Partner Entity:
Multiplier will send the addendum for the signatory’s signature
Both the signatory and employee must sign the addendum
Continue reading for a step-by-step guide on how to revise salaries on the platform.
To revise an employee’s salary from the ‘Team’ module, follow the below steps:
Step 1: Navigate to 'Team' in the left sidebar.
1.1: Select the employee whose salary needs to be revised from the 'Active' tab.
Step 2: Click on the 'Compensation' tab to view the employee's Existing Job Title and Total Annual Salary.
2.1: Click on ‘Revise Salary’.
Step 3: Enter the revised details as applicable from the below options:
New Job Title
Revised Total Annual Salary
Effective Date (the date from when the updated salary takes effect)
Note: After selecting the ‘Effective Date’ from the calendar, note the below conditions:
a) If the ‘Effective Date’ is in the current month or backdated:
- Salary revisions made before the current month’s payroll cut-off date will be disbursed along with the same month’s salary, provided the addendum is signed before the cut-off date.
- Salary revisions made after the current month’s payroll cut-off date will be disbursed along with the next month’s salary, provided the addendum is signed before the cut-off date.
b) If the ‘Effective Date’ is future dated:
Regardless of when the changes are made in the current month, the revised compensation will be disbursed in the selected month’s salary, provided the addendum is signed before the cut-off date.
Step 4: To add any additional compensation, click on 'Additional Pay Item' and choose a suitable option from the dropdown.
Note:
If you want to revise only the additional pay component in the contract, you can use ‘salary revision’ to do so. Go ahead and revise the additional pay component without changing the base salary.
If you have previously added any additional compensation for the selected employee, that pay item will appear on the screen, and you can edit or delete it as needed. If you do not change the existing additional compensation, it will continue to be in effect along with the revised salary.
4.1: Click on ‘Continue’ once you have added all the necessary information.
Step 5: Click on ‘Send to Signatory’ to send the updated compensation addendum to the company signatory for signature.
The following step is applicable for employees who are hired on Multiplier’s Entity. If the employee is hired on an EOR Partner Entity, you can find the next steps here.
Once you have sent the addendum for signature, the status will change from ‘Send Addendum for Signature’ to ‘Pending on Company Signatory’.
Step 6: The signatory will receive an email with the revised contract. After the signatory has signed the addendum, it will be sent to the employee for signature.
The status will change to 'Pending on Employee'.
Step 7: Once the employee has signed the addendum, the status will change from ‘Pending on Employee’ to ‘New Salary Revision Effective From <date>”.
Step 8: Our payroll team will process the required change, and the status will change to ‘Processing by Payroll’.
Step 9: Once payroll has processed the revisions, the status will change to ‘Salary Revision Complete’, and the revised salary will reflect on the platform.
If the employee is hired on an EOR Partner Entity, Multiplier will send the contract for the signatory’s signature.
Step 5: Review and confirm the details by clicking on ‘Confirm Salary Revision’.
Step 6: Multiplier will send the addendum for the signatory's and employee’s signature. The status on the platform will read ‘New Salary Revision Effective from <date>.’
Note that the signatory and employee must sign the addendum to proceed further.
Step 7: Once the addendum is signed and the payroll team has processed the revisions, the status will change from ‘New Salary Revision Effective from <date>’ to ‘Salary Revision Complete’.
To revise employee salaries, you can also use the 'Salary Revision' module from the left sidebar.