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My team is done planning. How do I close my company's comp cycle and what happens next?

Ending the cycle will lock all settings and employee data, and while reward letters won’t be automatically sent, you can begin communicating outcomes using Pequity’s in-app reward letter feature.

🏁 All done planning? Congratulations! As a company admin, you will be able to end the cycle by following the below steps.

  1. Login to Pequity and navigate to the appropriate comp cycle's Admin dashboard.

  2. Click on "Cycle Settings" in the top right corner.
    Screen Shot 2023-07-26 at 5.23.11 PM.png

  3. When you are ready, you can select the red button in the top right corner, END CYCLE.

  4. A modal will pop up ensuring that this is the action you want to take.
    Screen Shot 2023-07-26 at 5.57.32 PM.png

  5. After selecting END CYCLE, you will see a notification indicating the successful closure. The END CYCLE button will become deactivated, and no edits will be able to be made to the cycle settings or employee list.
    Screen Shot 2023-07-26 at 5.59.39 PM.png

Great job! With the cycle complete, you can now begin communicating outcomes to your team by using the in-app Pequity reward letter functionality! 🥇

What happens when and after I close my Comp Cycle?

Closing your Comp Cycle will close out all of the planning groups and waves in your cycle. This does not automatically send reward letters or make reward letters available. If you have questions on next steps for Reward Letters, please reach out to Support@getpequity.com for help setting up your Reward Letter templates in settings.

⛳️ Please note: when a cycle is ended by a Pequity admin, you will not be able to reopen the cycle from the frontend. If you have accidentally ended the cycle and need to reopen it, please reach out to Pequity custom support and we can resolve this for you quickly.