Built-in annual reconciliation for annualised wages
complete
Emma Pegrum
Doing annual reconciliations for annualised wage arrangements is a common pain point. Tanda has all the data and functionality to be able to generate these automatically; it is a natural extension of the existing 'wage compare' feature – but would be far more useful. The wage compare is only useful to identify and pay any 'outer limit' breaches, but these are rare, as businesses using annualised wage arrangements (at least in my experience) work hard to avoid them. If you are commonly exceeding your outer limits, it is highly likely the employee is being disadvantaged under the arrangement – making the annual reconciliation even more important. Making these quick and easy benefits both employer and employee, and would eliminate a huge amount of work for small business owners.
A
Andrew Stirling (Global Head of Product)
updated the status to
complete
A
Andrew Stirling (Global Head of Product)
Hi Emma Pegrum . This is possible already. Wage Compare does both the 'outer limit' comparison and the 'inner limit' (i.e. salary v total award) comparison. The cadences for each of these can be set separately. You can set the salary v total award comparison to be any of the following cadences: Yearly, Six Monthly, Quarterly or Pay Cycle. You can read more about it here: https://help.tanda.co/en/articles/4665887-see-what-employees-would-earn-under-a-different-pay-classification-wage-compare
or our support team will be able to assist you.
Emma Pegrum
Andrew Stirling (Global Head of Product) Hey Andrew! I've read quite a few explainers and still don't find it very clear, but I'll continue to try to figure it out. The AI support told me Tanda could not generate annual reconciliations (which may technically be correct, in that Tanda just gives you the data to do the reconciliation yourself...is how I now understand it?) – but regardless, it was your own AI support that actually told me to put the feature suggestion here in this forum. So, yeah... What WOULD be helpful is if it were possible to book support calls with your team. Back and forth on email is a disaster, I don't know a single small business owner who has time to be sending intricate explanatory emails to figure out how single features work. The software is expensive, and I've found it hard to ensure I'm getting the full value out of it without having access to efficient support when I need it.
Emma Pegrum
Also, by the way – none of this forms part of your onboarding process. It would have been helpful if, when our account was being set up and we had onboarding calls, the team told us we could make use of the wage compare feature. In retrospect, the onboarding is actually not very comprehensive at all – merely enough to just get the ball rolling, with the customer expected to figure the rest out on their own without access to proper support.