Appraisal, like the setting of goals, is the work of the immediate superior. The HR department comes into play to oversee the process and ensure its fairness. A crucial aspect is determining the final step of the appraisal process, such as addressing any performance issues or discrepancies. Evaluating the salary increment involves calculating it as a percentage increase based on various factors. The formula used for this calculation typically considers performance ratings, market standards, and budget constraints. It is essential to understand this process thoroughly for effective salary management. Thank you in advance for your attention to this matter.
From India, Gurgaon
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From India, Gurgaon
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pls share, most wanted, so how to appraise the sal in wat %..how increment is calculated and what is the formula used for this.....Pl tell the last step in details.....Thanks in advance
From India, Madras
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From India, Madras
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Appraisal is done in variour ways ... Depends on how do you want to appraise the employee.
From India, Mumbai
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From India, Mumbai
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Non-Executive Level:
Basic Salary is always a 30% hike of CTC offered. Appraisal depends on the percentage you want to offer to an employee based on the last year's performance. Normally, the industry standard hike is 20-30% on the CTC. It depends on how your company is appraising the employees. Most companies conduct a 180-degree appraisal, where the reporting manager and the HR of the company sit together with the employee.
The scale is as follows:
- 1 - Poor (5% hike or no increment)
- 2 - Fair (5-10% hike)
- 3 - Satisfied (10-15% hike)
- 4 - Good (15-30% hike)
- 5 - Excellent (30% or more)
Please let me know if this information is helpful.
Regards,
Priyanka Agarwal
From India, Mumbai
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Basic Salary is always a 30% hike of CTC offered. Appraisal depends on the percentage you want to offer to an employee based on the last year's performance. Normally, the industry standard hike is 20-30% on the CTC. It depends on how your company is appraising the employees. Most companies conduct a 180-degree appraisal, where the reporting manager and the HR of the company sit together with the employee.
The scale is as follows:
- 1 - Poor (5% hike or no increment)
- 2 - Fair (5-10% hike)
- 3 - Satisfied (10-15% hike)
- 4 - Good (15-30% hike)
- 5 - Excellent (30% or more)
Please let me know if this information is helpful.
Regards,
Priyanka Agarwal
From India, Mumbai
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SALARY SHEET CALCULATION.xls
Salary calculation.doc