Introduction
This article provides an overview of the new HR bulk upload workflow in Fidelity Private SharesSM. This workflow allows you to download, fill out, and import a spreadsheet of HR information for employees and consultants in bulk. This spreadsheet can be used to add new users or upload information for existing users.
Click the links below to jump to that section of the article:
- Upload HR Data workflow overview and capabilities
- Running the Upload HR Data workflow
- Error Report
- Spreadsheet details
- Terminations and rehires
- HR Upload history
- FAQs
Upload HR Data workflow overview and capabilities
The Upload HR Data workflow allows you to import information through a spreadsheet. The spreadsheet allows you to add your data from other reports or HRIS systems to update or add users in Private Shares. Below are the current supported and non supported features of the HR Spreadsheet.
What is currently supported through the HR Spreadsheet?
- Add new employees and consultants.
- Add employee or consultant labels to existing users with no roles assigned.
- Update information for an existing employee or consultant.
- Remove information about an existing employee or consultant.
- Terminate an existing employee or consultant.
- Reverse a termination for an employee or consultant.
- Rehire an employee or consultant (assuming their previous service relationship was terminated).
- Provide income information for employees that can be used in tax calculations.
What is not supported
- Changing termination details: You cannot change the termination date or reason for users with a pending or completed termination.
- Updates for users with multiple service relationships: You cannot send updates via the spreadsheet for users who have both an active employment and active consultant service relationship.
- Adding a second active service relationship: You cannot add a second consultant or employment service relationship if the user already has an active employment or consultant service relationship.
- Employment type changes: You cannot change the employment type of a consultant to an employee or vice versa. If a you need to change the employment type, you must terminate the current relationship then re-add the user with the correct employment type.
- Job changes: While you can change an employee’s or consultant’s title, you cannot officially record a job change. If you change their start date, it will be treated as a start date change. To record a job change, run the job change workflow.
Running the Upload HR Data workflow
Upload HR Data
- From the Company Workspace, navigate to Start New Workflow > Human Resources > Upload HR Data.
- Click on HR Template to download the template, which will be in .xlsx format.
- Fill out the spreadsheet with the necessary information and save the file. See the Spreadsheet details section below for more information.
- Click on Choose a file and select the saved file from your computer.
- Add a custom file name, if desired.
- Click Continue to upload and process the spreadsheet.
Review New Users
When a filled template is uploaded, the platform will attempt to match all users in the template to existing users by the work email.
If the workflow cannot match to existing users, review the new users and decide whether to create them as new users or match them to existing users already in Private Shares.
By default, users with no matches will be added as a new user. To match to an existing user, click on the edit icon in the Actions column, select No, and search for the existing user.
Once ready, click Continue to move forward.
Confirm Updates
This page will show a summary of updates to be made.
The summary includes successfully processed records, failed records, new users, and terminations totals.
- Successfully processed records: number of rows on the spreadsheet that were processed successfully, including new users and updates for existing users.
- Failed records: indicates that the system was unable to process any information for an employee. To see the reason for the errors, click to download the Error Report.
- New users: number of new users added via this spreadsheet upload. Users merged with an existing user on the Review New Users page will not be included in this total.
- Terminations: total number of users terminated via the spreadsheet upload.
To finish processing the spreadsheet, click Continue.
Error Report
If there are errors during the import, you can download the Error Report. This report is an .xlsx file that will highlight cells that prevented the record from importing, with a description of what caused the error, as in this example:
How to fix errors
There are two options on how to fix errors during import.
The first option is to process the spreadsheet without fixing the errors, and then run the workflow again for just the fixed records based on the Error Report. You can make edits directly to the downloaded Error Report spreadsheet and re-upload it by starting a new Upload HR Data workflow. Note that the error report will include both successfully processed rows and rows with errors. Assuming no changes are made to the successfully processed rows, including those rows in a subsequent upload will not trigger any additional changes in the platform.
The second option is to not process any updates until all errors are reconciled. After downloading the Error Report, you can discard the current workflow, or click the back button to navigate to the Upload HR Data page. Fix the errors on the Error Report and upload the saved file. Note that once the workflow is discarded, the error report will no longer be available for download.
Spreadsheet details
The spreadsheet upload is divided into seven categories. Click to expand each section to see the data fields.
Personal information
- First name (always required)
- Middle name (optional)
- Last name (always required)
- Suffix (optional)
- Birth date (optional)
Employment information
- Employment type (required to add user)
- Select Employee or Consultant from the drop-down menu.
- Title (required to add user)
- Employee group (optional)
- This is a drop-down menu based on the employee groups that have been created in Private Shares.
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Start date (required to add user)
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Department (optional)
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If you have centrally managed departments this will be a drop-down menu. Otherwise, it’s an open text field.
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Cost center (optional)
Contact information
- Email (always required)
- For employees the email field will populate the work email in the platform.
- Cell phone (optional)
- Work phone (optional)
Residential address
- Street 1 (required to calculate tax)
- Street 2 (optional)
- Street 3 (optional)
- City (required to calculate tax)
- US State (required to calculate tax — US only)
- Zip (required to calculate tax — US only)
- Country (required to calculate tax)
Compensation
All compensation must be entered as USD. The spreadsheet upload will pre-populate a $ in all compensation-based fields.
- Year-to-date wage (required to calculate tax)
- Aggregated Supplemental Wage Balance (optional)
- Base wage (optional)
Termination
- Termination date (optional)
- Termination reason (required when termination date is provided)
- This is a drop-down menu, select from: with cause, without cause, death or disability, or termination in proximity to a sale event.
Additional identifiers
- SSN (optional)
- Employee ID (optional)
- FPS Stakeholder ID (optional)
Required fields
Some fields are required during every spreadsheet upload, while some fields are only required to add new users. Additionally, some fields are required for tax calculations, but not required for any other functionality in Fidelity Private Shares.
The headers in the spreadsheet indicate what fields are required and when. Fields that are always required are marked in yellow, fields that are required to add users are marked in blue, and fields that are required for tax are marked in purple.
Terminations and rehires
How to terminate via the spreadsheet
To initiate a termination, include a termination date and termination reason in the spreadsheet upload. Both fields are required to initiate a termination. Once an upload with termination data is processed, it will trigger a termination workflow in Fidelity Private Shares.
If an employee or consultant doesn’t have any equity, the termination workflow for that user will automatically complete.
If an employee or consultant does have equity, the spreadsheet upload will automatically complete the HR portion of the termination workflow. The platform will then notify the responsible party via email to complete the equity portion of the terminate workflow.
Reverse a termination via the spreadsheet
A termination can be reversed if no equity actions were taken post termination. To do this, upload the spreadsheet with "UNSET" in the termination date field and leave the termination reason field blank.
If no additional equity actions were taken outside of the termination workflow (e.g., transfer, or exercise), the reversal can proceed.
If additional equity actions were taken outside of the termination workflow (repurchase, transfer or exercise.), a row-level error will occur on the upload. In this case, you will need to contact Support to reverse the termination.
Rehire a previously terminated employee
To trigger a rehire, upload a spreadsheet with the new start date and leave the termination date and termination reason fields blank.
HR Upload History
The HR Upload History is a report that lists all historic HR uploads. From here, you can re-download the HR spreadsheet previously uploaded, and you can download error reports, when applicable.
To access this report, from the left side bar go to Human Resources > Reports > HR Upload History.
The HR Upload History shows two statuses:
- Successfully processed means the HR upload was processed successfully without any errors.
- Processed with errors means the HR upload was processed, but with errors.
FAQs
What is required to add a new user? The required fields to add a new user are: First name, Last name, Email, Employment type, Title, and Start date.
How do I add new information for an existing user? On the spreadsheet include at least the first name, last name, and email of the user, as well as the additional information you want to add or update. Any items included on the spreadsheet will override what is currently in the platform if the import is successful.
How do I remove information for an existing user? To remove information for an existing user, type in "UNSET" on the spreadsheet in the field you want to remove. Once the filled template is processed, this will remove the respective information from the platform. Leaving fields blank in the spreadsheet will not cause any change to information already in the platform. Note that you cannot remove data for any of these required fields: First name, Last name, Email, Employment type, Title, and Start date.
How do I undo a termination? To reverse a termination, type “UNSET” into the termination date field and leave termination reason blank on the spreadsheet. See the Reverse termination section above.
Screenshots are for illustrative purposes only.
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