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How to determine pay raises for employees in 2022

Business Management Daily

That means it’s a great time to start thinking about pay raises. Pay raises are particularly important going into 2022 as turnover rates continue to soar. Employees that feel undervalued or underpaid will not stick around long, so do your best to provide annual salary raises. How to determine pay raises.

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Promotion without a raise? Experts weigh in

HR Digest

The hope of getting a pay raise with promotion is a less-attractive proposition these days. As the coronavirus outbreak spreads, many workers’ will find themselves getting a promotion without a raise than a salary increase with no promotion. There are a handful of reasons why employers give promotions without raises.

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What’s a merit increase, and should your business use them?

Business Management Daily

A merit increase or merit raise refers to a pay increase based on an employee’s performance. Merit pay is a permanent increase to an employee’s base salary and tends to go hand-in-hand with regular performance reviews. Here’s a look at other types of financial rewards and how they differ from merit pay.

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Choosing the best workplace pension for your business

Employee Benefits

You can aid your employees and business in saving considerable amounts: If you neglect to periodically review your pension, your company might be losing money that could be allocated towards pay raises or bonuses. Fees occasionally fluctuate, and the top-tier pension providers often suggest simple strategies to maximise savings.

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Essential aspects to consider for your team’s motivation

Hppy

The whole team was awarded handsomely by the US government and were termed as heroes to keep their spirits high. Incentives and bonuses help ensure the employees that their organization thinks about them and genuinely care about their finances and social wellbeing. Incentives. Introduce incentives.

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What are Total Rewards: Here’s A Holistic View

Empuls

Employee total rewards are a combination of benefits, compensation, and rewards that employees receive from their organizations, including wages and bonuses, rewards, performance recognition, workplace flexibility, career opportunities, etc. Variable pay. Supplementary pay. Only hard work pays off! Overtime wage.

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