How Should We Transition to a Unified Annual Salary Increment Policy for All Employees?

I am working as an HR Executive. Currently, our company is providing salary increments based on employees' joining dates. For example, if a candidate joined in February, their raise would be scheduled for the following February. However, our company is now considering implementing a new policy for annual salary increments for all employees, to occur once a year. Could anyone please provide guidance on this matter?

Thank you.

Annual Salary Increment Policy

Giving increments once a year for all eligible employees makes enormous sense as it brings a sense of discipline and seriousness to the entire process. You can follow any 12-month appraisal cum increment cycle like Apr-Mar, July-Jun, or Jan-Dec. Within this cycle, increments should be proportionately given based on the Date of Joining (DOJ).

Hope this helps.