Hi All! Everybody is under the process of annual performance assessment. We have successfully introduced a performance appraisal system in our organization. I wish to know on what basis the increment percentage is calculated.
Thanks & Regards,
Rahul Vaidya
From India, Pune
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1Thanks & Regards,
Rahul Vaidya
From India, Pune
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Increment Percentage and Variable Pay
The increment percentage will fall under the variable pay in the CTC of the company. It solely depends on the management's decision on how much percentage hike they can provide to each individual based on their target achievement. The HR Department can propose some increment slabs of 10% - 25%, but these should be modified and approved by management.
From India, Calcutta
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The increment percentage will fall under the variable pay in the CTC of the company. It solely depends on the management's decision on how much percentage hike they can provide to each individual based on their target achievement. The HR Department can propose some increment slabs of 10% - 25%, but these should be modified and approved by management.
From India, Calcutta
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After consultation with management, the total budget can be increased by 10% and the additional cash can be distributed as per the advice by Mr. Soumik Mukherjee based on the performance.
From India, New Delhi
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From India, New Delhi
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You have already introduced the performance assessment system. You may refer to that system or book itself. As you know, it is all about the performance of the person for his increment. There are mainly two kinds of fields in performance: Core areas (Technical, Accounts, Finance, Sales, Marketing, etc.) and the other is a person's soft skills (Team building, Drive, Analytical skills, Presentation, Conflict resolution, etc.).
Apart from the awareness, knowledge, or possession of these fields, the bottom line is the achievement of the goals, targets, objectives, or activities defined by management for that employee. There is a percentage for all these attributes, defined in the Performance Assessment System.
I hope this is in line with your requirement.
Regards,
Sanjay Ghiya
Reliance, RCP
From India
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Apart from the awareness, knowledge, or possession of these fields, the bottom line is the achievement of the goals, targets, objectives, or activities defined by management for that employee. There is a percentage for all these attributes, defined in the Performance Assessment System.
I hope this is in line with your requirement.
Regards,
Sanjay Ghiya
Reliance, RCP
From India
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VARIABLE PAY.doc