Increment Policy [Thread 243194]

Hi All,
I am framing an Increment Policy. We are a software company with a team size of 30 at present.
We want to give salary hike in April and October.
We are following 540 degree Appraisal System.
Please let me know your thoughts on giving a hike twice a year.
Also those working in small and medium size software firms please share your Increment Policy

hike twicw a year :O i m hearing for the first time. its good but there will be difficulity for you to apparise those people who are not performing well. then what you will do?

Hi Raksha
I would like to suggest as follows:
- Make a study on compensation and benefits being offered at similar companies of repute, taking manpower strength, turn-over, profits into consideration.
- Include points related to increments, quantum etc in the study itself.
Then, you will have an understanding -- where you are and your employees and its benchmarking standards for each position.
By the way, may I know about the 540 degree appraisal system. If you have any document, can you share with me.
regards / vsure