Hello Everyone,
I hope everyone is doing well! Kindly guide me regarding the increment slabs. I have recently joined an IT Company. We are planning to set increment slabs for all positions to bring equality at all levels. The current practice is that everyone gets a yearly increment based on their performance, and the incremental salary is decided by the top management. We don't have a fixed percentage for increment slabs yet. Kindly guide me on how I can set the percentage for increment slabs for managers and executive levels.
From India, Delhi
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2I hope everyone is doing well! Kindly guide me regarding the increment slabs. I have recently joined an IT Company. We are planning to set increment slabs for all positions to bring equality at all levels. The current practice is that everyone gets a yearly increment based on their performance, and the incremental salary is decided by the top management. We don't have a fixed percentage for increment slabs yet. Kindly guide me on how I can set the percentage for increment slabs for managers and executive levels.
From India, Delhi
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Hi Meenakshi,
In general, all grades of employees are provided increments, like 8% to 10%, depending on the performance; it can be decided. You can always grade the increment slab as Good Performer, Average Performer, and Poor Performer. There are always exceptions for extraordinary performers. You can try it out.
Regards,
Vamsi Krishna
From India, Hyderabad
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In general, all grades of employees are provided increments, like 8% to 10%, depending on the performance; it can be decided. You can always grade the increment slab as Good Performer, Average Performer, and Poor Performer. There are always exceptions for extraordinary performers. You can try it out.
Regards,
Vamsi Krishna
From India, Hyderabad
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Hi Meenakshi Kiran,
Thank you for the guidance, Venkata Sir. I would appreciate your advice on one matter. Currently, we hire new candidates on a three-month training period. Upon the completion of this training period, we provide them with a salary hike as determined by management. However, this practice is not well-received as it lacks uniformity. We are considering implementing a fixed percentage hike for confirming probationary employees. Is there a standardized salary hike scale for this purpose?
Regards,
Meenakshi Kiran
From India, Delhi
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Thank you for the guidance, Venkata Sir. I would appreciate your advice on one matter. Currently, we hire new candidates on a three-month training period. Upon the completion of this training period, we provide them with a salary hike as determined by management. However, this practice is not well-received as it lacks uniformity. We are considering implementing a fixed percentage hike for confirming probationary employees. Is there a standardized salary hike scale for this purpose?
Regards,
Meenakshi Kiran
From India, Delhi
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It generally depends on the company policy, same way it can be fixed at 5% or 4% on their pay Regards Vamsi Krishna
From India, Hyderabad
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From India, Hyderabad
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Can i get some policy format for the above discussion sir. Regards Meenakshi Kiran
From India, Delhi
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From India, Delhi
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It may be in the following pattern:
1. Decide across-the-board % increase for a particular year based on business performance. Say it is 10%.
2. Appraisal score A - Outstanding, B - Good, C - Average, & D - Poor.
3. Remuneration level may be - (a) up to 10 lac, (b) 11-20 lac, (c) 21-30 lac, & (d) >30 lac, etc.
4. Prepare one matrix - For appraisal score A at remuneration level (d) 11%, (c) 12%, (b) 13%, & (a) 15%. Similarly for B, C, & D to arrive at an across-the-board 10% increase. Therefore, for the same appraisal score, the % of increase at a higher level may be less and at a lower level may be more.
S K Bandyopadhyay (WB, Howrah)
From India, New Delhi
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1. Decide across-the-board % increase for a particular year based on business performance. Say it is 10%.
2. Appraisal score A - Outstanding, B - Good, C - Average, & D - Poor.
3. Remuneration level may be - (a) up to 10 lac, (b) 11-20 lac, (c) 21-30 lac, & (d) >30 lac, etc.
4. Prepare one matrix - For appraisal score A at remuneration level (d) 11%, (c) 12%, (b) 13%, & (a) 15%. Similarly for B, C, & D to arrive at an across-the-board 10% increase. Therefore, for the same appraisal score, the % of increase at a higher level may be less and at a lower level may be more.
S K Bandyopadhyay (WB, Howrah)
From India, New Delhi
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Salary Increment Survey.pps
Performance.Bas ed.Management.p df
Salary hike projection.doc
CiteHR.AI
(Fact Checked)-The request for a policy format is understandable. You can refer to HR policy templates or consult HR best practices books for tailored guidance. (1 Acknowledge point)