Overview

This article will cover the new budget envelope feature, as well as a number of enhancements we've made to Scenarios.

Read on for more information about these releases!

Budget envelopes: Total budget and New hire budget

TeamOhana's budget envelope feature enables Finance teams to set parameters around which hiring managers and department leaders can build and execute on their hiring plans and merit cycles.
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You can select between two different budget classes when creating your envelopes: New hire and Total budget.

New hire enables you to input a company-wide budget for the fiscal year's hiring plan and distribute it across divisions or departments. Total budget asks you to supply a total budget, then based on criteria such as your current employee costs and your merit increase effective date, it will provide a budget for your new hires for the designated fiscal year.

Read more about creating and implementing budget envelopes in our guide here.

Since we released v1 of Scenarios, we've made a number of improvements to the feature to enhance your experience:

Export your scenario

From the menu button in the top right corner of every scenario, you now have the option to export your scenario into a CSV file. The Edit view and the Changes view will be captured as separate tabs in your export file.

New justification field

Each row of your scenario now has a "justification" field where hiring managers and department heads can input their reasoning for adding the headcount to their plan. Clicking on the field will expand it so the full justification can be seen at once. When the scenario is approved, the justification will persist for each headcount once they're added to the hiring plan.

Additional time filters

Both the New plan and the Modify plan template now have 'Next year,' 'Last year,' and 'Custom' date ranges in the Time filter. These new time filters enable users to add headcount across multiple years to their scenarios and then isolate those years to view the impact that the headcount will have on each year's budget.

Ability to select budget envelopes of multiple fiscal years while creating a scenario

Because users can now create and analyze scenarios across multiple years, they are also now able to apply budget envelopes across multiple fiscal years when they create their scenario. This means that, for example, if a budget envelope is applied for both FY2024 and FY2025, when the user applies the "next year" filter, the FY2025 budget envelope will automatically be applied and the user will be able to see how they are tracking toward that budget.

Have questions? Connect with our team to get 1:1 support and learn about best practices for rolling out these new features in your organization today.