Greetings of the day !
Query : I am working in an IT company strength of 25 empoyees . As performance appraisal is done in our company, next step is to increment the salary of employees based on their ratings & salary grade. My query is that - If I rate a employee whose salary is rs. 38000/- p.m. then it gives hike of rs. 9,500/- & If I give same rating to employee whose salary is rs.10,000 p.m. it gives hike of rs.2500/- only. I want to make it normalize in such a way that an employee earning 10,000 p.m. gets reasonable hike in his/ her salary after rating of 25 %. Inspite of rating, i want to give weightage to salary grade also & want to consider other factors also if possible.
Scenerio in our company : Employee ( in Hardware team ) gets highest rating of 25 % & his salary is 23000 p.m. On the other hand, Employee whose salary is 10,000 p.m. gets highest rating of 25% in software team . So employee ( with salary of 10,000 ) is getting very minimum hike as compared to employee whose salary is 23000 p.m.
Kindly provide me some formula that can normalize salary hike .
Query : I am working in an IT company strength of 25 empoyees . As performance appraisal is done in our company, next step is to increment the salary of employees based on their ratings & salary grade. My query is that - If I rate a employee whose salary is rs. 38000/- p.m. then it gives hike of rs. 9,500/- & If I give same rating to employee whose salary is rs.10,000 p.m. it gives hike of rs.2500/- only. I want to make it normalize in such a way that an employee earning 10,000 p.m. gets reasonable hike in his/ her salary after rating of 25 %. Inspite of rating, i want to give weightage to salary grade also & want to consider other factors also if possible.
Scenerio in our company : Employee ( in Hardware team ) gets highest rating of 25 % & his salary is 23000 p.m. On the other hand, Employee whose salary is 10,000 p.m. gets highest rating of 25% in software team . So employee ( with salary of 10,000 ) is getting very minimum hike as compared to employee whose salary is 23000 p.m.
Kindly provide me some formula that can normalize salary hike .