Introducing new Pay Insights in Cocoon
HR admins now have insight into all employee leave payments, across pay periods, with future projections to help answer questions and plan strategically.
March 20, 2023
Liberty Buttenwieser
Product Marketing
Though offering paid leave policies is beneficial for a multitude of reasons, actually delivering on it is where complexities can arise. Depending on several factors – like their company’s policy, where they live, and tenure, to name just a few – a person might receive checks of varying sizes from multiple sources. Money can come from their employer, disability insurance, and state entitlement programs on an irregular, unpredictable schedule. Employees take leave for some of life’s most significant moments, moments they should not have to spend time and effort tracking pay and manually calculating whether everything adds up.
Back in June 2022, Cocoon launched Pay Trackers to show employees when they were paid, how much, and from which sources. While this was a huge step toward reducing stress and uncertainty for those on leave, we learned that employers still wanted more clarity on each individual’s pay details so they could be there to support employees when questions did arise.
Employee pay details at your fingertips
New Pay Insights feature shows People teams a breakdown of all payments made to any employee on leave. Admins can easily view individual employee pay across pay periods, broken down across regular pay, leave pay, and deductions. Use our ‘Upcoming’ tab to view pay projections for an employee’s leave based on their current leave plan and benefit estimates. Admins can also download all leave pay information for each employee with a single click.
The ‘Details’ tab shows even more context about the employee’s pay for each period: number of days, hourly rate, total compensation, and any pay adjustments. Open Details to see the reason for the adjustment and the impacted pay period. From there, you can also click the pay period itself to review it.
Tools that help you support your team when they need it most
One of Cocoon’s fundamental goals is to minimize the mental load of going on leave so employees can focus on themselves and their families. Getting paid on leave is rarely straightforward, creating more uncertainty for employees in moments that are often some of the busiest and most stressful of their lives. Intuitive, accessible leave management software tools like our new Pay Insights feature empower People teams with the information and clarity into pay details to show up for their teams in these moments.
