Dear HR experts, I work in an IT company with an employee strength of around 700. We have a very good appraisal system where increments were previously based solely on ratings. However, the management has now decided to exert control over salary increments. They have asked me to prepare a salary increment grid according to the budget. This grid will align with the bell-shaped curve for all departments, ensuring that the salary hike fits within the allocated budget.
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I would appreciate it if you could share any information related to this topic, including any Excel sheet templates, reading materials, or websites as soon as possible.
Thanks in advance for your help; it would be highly appreciated.
Regards
From India, Thana
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3Request for Information and Resources
I would appreciate it if you could share any information related to this topic, including any Excel sheet templates, reading materials, or websites as soon as possible.
Thanks in advance for your help; it would be highly appreciated.
Regards
From India, Thana
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Generally, the salary increases and bonuses/incentives will be considered from the budget only, and the disbursement of the amount may vary based on the rating that each individual has received. Sit with the management to understand the bell curve (percentage for each rating). Perhaps they want to give a higher percentage of increase to the top pool employees (Rank 1 & 2) and less to the mediocre group, which may be larger in any organization.
You can discuss adjusting the bell curve with the management. For example, it could be distributed as follows: 5% - Rating 1, 20% - Rating 2, 60% - Rating 3, 10% - Rating 4, and 5% - Rating 5.
Hope this clarifies....
From Saudi Arabia, Jiddah
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You can discuss adjusting the bell curve with the management. For example, it could be distributed as follows: 5% - Rating 1, 20% - Rating 2, 60% - Rating 3, 10% - Rating 4, and 5% - Rating 5.
Hope this clarifies....
From Saudi Arabia, Jiddah
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