Creating an Anniversary/Birthday Bonus Stipend (Company Administrators)

Anniversary Bonus Stipends should be created when you would like to provide funds to employees annually on their Work Anniversary or Birthday. 

1. Access the Stipend Tab

2. Click Create an Anniversary Bonus Stipend

Follow the below steps to Create an Anniversary Bonus Stipend:

1. Name your stipend
2. Select if everyone or certain groups should have access to the stipend. 
3. Add a description

4. Add a notification message that the employee will see when they receive notification of the funds being added via email. 

   

5. Select whether the annual stipend should be issued based on the employee's hire date, or birthdate listed in the team list (ensure that you have these dates listed in your Team List in Compt before launching this stipend)

   1. If selecting the birthdate option, input the stipend amount that you would like to give, and select the length of time you would like to allow them to spend their funds in the Default Expiration drop-down.

      (1 month, 3 months, 6 months, 12 months)

   2. If selecting the Hire date option, input the amount that you would like the employee to receive each year on their hire date and select the length of time you would like to allow them to spend their funds in the Default Expiration drop-down. (1 month, 3 months, 6 months, 12 months) Important note: The last year specified is the recurring amount for all years moving forward. If you'd like to stop the amounts after a certain year, put 0 in the year that you do not want an employee to receive the bonus any longer.

      

      
      

6. Select the Perk Categories you would like to be eligible for the stipend.

   

7. Click Save Draft.

   
   

8. When your draft is finalized and ready to launch, click Schedule Launch and select the appropriate date before clicking Confirm Launch button.