Discover what drives them - then pay them!
The end of the financial year is often the time of year many businesses start to look at salary reviews. Often this is an ad hoc affair with a central budget being the main criteria for what individuals are given.
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Maintaining the system in a logical and transparent way is crucial as people expect to have their salaries reviewed at least annually and want this to be on a consistent and fair basis. An effective salary review process also enables the business to reap the benefits of having a comprehensive salary system.
Having looked at an effective salary system and establishing the internal relativities of the job, we now need to determine the levels of payment for each position.
Getting the internal relativities right.
Yes, if you get it wrong.
Still an important part of performance management.
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