Changes affecting salary, bonuses, allowances, benefits, job title, and job description require amending the employment agreement. Oyster needs to be notified about Team Members' roles and compensation changes.
Important: Please note this process is for Team Members only, not for contractors. You can learn more about how to process a change to a Contractor’s salary or employment details in the article How do I edit a Contractor's employment details?
Prerequisites
- Salary changes should always be future-dated.
- The cut-off for completing any salary change is as follows:
- 6th of the effective month for Indirect Team Members
- 10th of the effective month for Direct Team Members
- For past-dated salary changes, the effective date can be backdated on the agreement; however, the pay difference will be reflected as a bonus via the platform under Payroll Changes.
For questions on taxation fo payroll adjustments, please refer to the article Are payroll adjustments taxable?
Steps
It's important to note that salary changes will follow cut off periods to ensure payroll accuracy. Once you set the effective date, the platform will show a message informing you of the date when these changes should be applied and if there are any retroactive payments (in case you select an effective date in the past). The applicable date shown is based on the effective date of the request you selected, the usual processing timeline, and the next payroll cutoff date.
You can view your requests summary by following the steps in our article Where can I view salary change requests.
- Sign in to the Oyster platform from your administrator account and find the specific team member by clicking Team on the menu on the left side of the screen.
- Navigate to the Employment tab connected to this Team Member, and you’ll notice a Request contract change button.
- Click on Request contract change, select what you’d like to change, and set the effective date.
- Click on Save & continue to move to the next page, where you can input the details of the selected changes.
- Once all changes have been inputted, you can click Confirm and will see this banner:
- The Support Team will review the requested changes, and if all looks good, they’ll reach out to you with the Employment Agreement Amendment for your review and the Service Agreement draft for your signature.
- Once both documents have been approved and signed by your Team Member and Company signer, respectively, Support will approve the change on the platform, and the changes will be applied on the effective date you’ve selected.
Reminders
- Salary changes require multiple steps to complete. The Employment Agreement needs to be drafted, approved, and signed. In some cases, requires a wet signature.
- Aim to submit these change requests at least a month prior to the effective date to allow sufficient time for necessary amendments.
- A salary change request submitted within a week or less from the cut-off dates are at risk of not being processed in the same month.
