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An Introduction to HR in Fidelity Private Shares

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Introduction

Welcome to Fidelity Private Shares Human Resources. Within the platform, we approach HR as the management of the employee lifecycle--from hiring, to onboarding, job changes, to separation.

We offer two different options for HR: the standard HR features included with your subscription, and HR Plus which is an add-on that includes premium HR features. 

Included HR Features

Included Workflows

Under the Human Resources category, there are several individual workflows included with your subscription.

Add Employee

  • Use this workflow to generate documents for a newly hired employee.
  • Generates: Offer Letter, Employee Confidentiality and Assignment Agreement.
  • Support Center article: Add Employee Workflow

Add Contractor or Consultant:

Add Advisor:

Amend Consultant or Contractor Agreement

  • Amend or upload an amended version of a pre-existing Consulting Agreement.

Employee Job Change

  • Change terms like title, salary, and department for particular employee. This workflow generates a document explaining the job change, which can be shared with the employee if desired. 
  • Support Center article: Documenting an Employee's Job Change Event.

Change Employee Start Date

  • Change the start date of an employee. Please note that you can only change the employee start date to a date in the future.

Terminate an Employee/Consultant or Other Stakeholder

Included HR Reports

HR Plus also includes several reports to give you quick access to a variety of HR information.  All of the available HR reports can be accessed from your workspace. Below is a summary of general report features. 

Employee Report

  • This report provides each employee’s name, title, department, employee group, start date, and work emails.
  • It also links out to each employee’s user profile, and sorts the employees into categories: Active Employees, Candidates, New Hires, and Past Employees. Clicking the three-bar menu to the right of an employee’s entry will bring you to a list of actions you can take for that employee.  

Consultant and Advisor Reports

  • These reports feature the same information as the Employee Report, but for consultants and advisors. 

Document Audit Report

  • This report tracks whether or not your employees have completed their various employment documents, including offer letters, confidentiality agreements, I-9s, W-4s, and surveys/onboarding tasks. 

Employee Compensation Report

  • This report provides a summary of each employee's compensation: base compensation, compensation type, bonus plan, bonus frequency, and bonus amount.
  • See this article for more details: Employee Compensation Report

Job Change Report

  • This report summarizes any internal job changes that have occurred, including the date of the change, a description of the change, the old and new job titles, the employee group, and who instigated the change.

Included HR Administration Features

On top of workflows and reports, you can use HR Plus to configure Offer and Employment workflow settings: See this article for more instructions: HR Administration Settings

HR Plus Features

HR Plus offers advanced HR capabilities for growing teams. You can expand your subscription with a suite of features that make onboarding and managing employees even easier. Reach out to your Customer Success Manager for more information. 

HR Plus Workflows

With HR Plus, in addition to the workflows outlined above, you'll have access to these additional workflows:

Update Organizational Chart

  • Use this workflow to update the organizational chart, moving several employees to a different department or under a different manager in bulk.

Employee Form I-9 (upload and generative options)

  • Use these workflows to upload or have an employee complete their Form I-9.
  • Support Center article: Form I-9s

Employee Form W-4 (upload and generative options)

  • Use these workflows to upload or have an employee complete their Form W-4.
  • Support Center article: Form W-4s

IRS Form W-9 (Upload Only)

  • Use this workflow to upload a Form W-9 for consultants.

HR Plus Reports

Employee Task Report

  • This report provides a list of tasks that need to be completed for new hires, job changes, and terminations. Tasks can be configured in your HR Administration Settings. 

Organizational Chart

  • This chart is a visual representation of the company’s structure. It displays each employee (and can include consultants) and organizes them based on their department and their managers. 

Work Eligibility Report

  • This report summarizes the eligibility status of each employee, including their I-9 reported start date, actual start date, citizenship status, and the legal documents they used to complete their I-9. It also links out to each employee’s I-9.
  • Support Center article for more details: Work Eligibility Report

EEO Report

  • This report displays the result of the EEO survey, if your company distributes it. Companies with more than 100 employees are required to survey their staff annually. 

Employee Documents

This link takes you to a different view of the HR documents folder in the Data Room, where each employee has a subfolder that contains their various employment documents. 

HR Plus Administration Features

On top of workflows and reports, with HR Plus, you can configure workflow settings, set up company policies, and create custom employee forms.

See these articles for more instructions: 

Fidelity does not provide legal or tax advice. The information herein is general in nature and should not be considered legal or tax advice. Consult an attorney or tax professional regarding your specific situation.

Fidelity Private Shares LLC provides cap table management and other administrative services to private companies and their equity compensation plans.

Fidelity Private Shares LLC

© 2024 FMR LLC. All rights reserved.

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