Remove Bonuses Remove Information Remove Pay Raise
article thumbnail

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.

article thumbnail

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.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

When employees ask for a raise: 5 steps to a win-win outcome

Insperity

When an employee asks you for a pay raise, it’s easy to feel taken off guard. A compensation philosophy defines what’s important at your company when it comes to managing pay. By doing so, you can greatly reduce the likelihood you’ll be approached by your staff with raise requests (and avoid the disruptions).

article thumbnail

How to Handle Employee Pay Rise Request

HR Digest

The manager should try to gather more information on the pay raise matter through in-direct inquiry. Cross-question the employee on the points given in favor of pay raise request. To come to a conclusion, it is important to get clarity on the employee’s perspective with respect to pay raise request.

article thumbnail

3 Tech Tools No HR Department Should Be Without

Insperity

Payroll software can streamline the payday process and reduce the time necessary to enter information that is repetitive across all payrolls. In addition, by processing all “like data” and providing exception reports, this software can help you easily catch and correct errors or missing information before you run payroll.

article thumbnail

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.

article thumbnail

How to tackle wage growth and remain competitive in a tough market

Insperity

Information for individual markets can be obtained from various sources, including labor market competitors and published data from survey vendors. As business leaders undergo the budgeting process, they must consider whether salaries and pay increases will be based on the cost of labor, cost of living, or some combination of two.

Salary 102