Update guidelines for new HC approval process

content/departments/people-talent/talent/process/opening_a_new_job.md

@@ -35,9 +35,17 @@ The Hiring Manager fills out [this intake form](https://docs.google.com/forms/d/
 
 - If you need help completing this form or getting a status update on your headcount request, please get in touch with your [recruiting partner](../../teamalignment.md) so they can help move this through the process.
 
-### Step 2: exec approval
+### Step 2: finance and exec approval
 
-The exec team must agree that this is a business-critical role before the Finance team can approve it for hire. This happens synchronously during exec team meetings, and a decision will be made at this meeting by the headcount committee. Alternatively, the Hiring Manager can request this approval be completed async by the exec team. The Hiring Manager will continue onto next steps if approved. The headcount committee will inform the requester that their request is denied.
+Finance approval is required for all new roles, whether backfills or net new.
+
+If this role fits in the latest plan/budget, then it will likely be quickly approved. Finance maintains discretion, however, to ask questions and make a decision based on changes in business strategy and prioritization, department metrics or ratios, company and department performance, or other reasons. SLA: 3 days.
+
+If this role exceeds or changes the latest plan/budget, then additional justification is required. The executive for the team must re-create their ideal org chart with support from People and Finance to set prioritization and timing of all desired roles. If the Hiring Manager or executive can find a place to pull budget from elsewhere in the company (with the respective department executive's approval), then People and Finance team approvals are required, but the decision will be easier and quicker. SLA: 7 days.
+
+If the Hiring Manager or executive can't find a place to pull budget from, then People and Finance approval is required, given company-wide strategy and prioritization, potential impact, and company performance. The exec team will be notified about the additional role, spending associated with it, and any potential offseting cost cuts that finance will be applying (e.g. to travel or other company-wide line items), and they can propose alternatives. SLA: 14 days.
+
+The Hiring Manager will continue onto next steps if approved. The headcount committee will inform the requester if their request is denied.
 
 ### Step 3: create a job description & interview plan