manishsawankar
16

Dear All,
It is very challenging to translate the performance shown by an employee to his salary or salary increment amount. Is there any specific formula, rule or a method by which we can do this transparently?
Thanks
Manish

From India, Nagpur
sunaina231
Hi Manish,
you would need to quantify the KRA's set for the employee. and each and every KRA would have certain weightage in the score card. what you can do is have the productivity % - salary increments
for ex if the employee has met 60 - 70% of the KRA's - can be meets expectation - and this can go towards a fixed % of increments.
Regards
Sunayana

From India, Thana
r.jhawahar
3

Hello frnd.. Hope this template will help you. it was posted by on of citehr member..
From India, Coimbatore
Attached Files (Download Requires Membership)
File Type: doc Appraisal_Form_Template.doc (187.5 KB, 212 views)

alism
6

Manish,
Tranlating performance into pay is not really a challenging task. The above examples given by the fraternity is a typical way of rewarding performers.
My recommendation is to design a system in way that it will reward long-term as well as short-term performance, encourage retention, recognize special needs of an organization, be based on the achievement of both financial and non-financial objectives, and in general create value for shareholders. Reasonable incentives for short term performance and higher incentives for long term performance. This would help provide long-term sustainable outcomes to the benefit of shareholders.

From India, Bangalore
manishsawankar
16

Thanks All!
But still this discussion is rounding near performance appraisal system and not actually on how to convert ratings into a particular salary. If an employee asks why this much of increment/salary and why not this much then there should be a clear and transperant way, method to explain this. Also if company earns huge profit then how much to be spent on employee salaries and why remains crucial.
Rgds.
Manish

From India, Nagpur
nandha2k
Hai

In India monetary benefit becomes more motivation and Demanding for employee performance.So Incremnet has to be transparent enough.Streamlining with the department heads and Key Result Area is important.
It has to be communicated to Employees clearly that achievement and Criiteria.So that in near future it will not create any problem in this regard
Thanks
Nandha Kumar

From India, Coimbatore
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.