How to Equitably Distribute and Manage Base Salary Pay Increases to Your Employees

Equitably distributing and managing base salary pay increases to employees is always a challenge for human resources professionals, managers and executives. The objective is to design a merit pay approach which helps to ensure that those employees who add the most value to the organization are the ones who receive higher base pay percent increases. A Salary Increase Matrix is the most effective method to structuralize the equitable distribution of base salary rewards within a traditional pay approach. 

John Rubino will discuss the importance of articulating a compensation strategy and philosophy, and the principles of instituting a merit pay approach within your organization. He will also discuss the most important pay-action scenarios (promotions, differentials, COLA’s, etc.) to most effectively distribute salary increases among your employees in order to achieve both internal equity and external competitiveness. Lastly, John will present a step-by-step methodology for creating a Merit-Based Salary Increase Matrix from scratch that can be readily adapted to your organization. Going forward, this will serve as the foundation for promoting a pay-for-performance culture within your organization 

The participants will learn:

·      How to articulate a Compensation Strategy and Philosophy

·      The core principle for developing an effective Merit Pay Program

·      The factors that affect the success of Merit Pay Programs

·      The most important pay-action scenarios (promotions, differentials, COLA’s, etc.) to most effectively distribute salary increases among your employees in order to achieve both internal equity and external competitiveness

·      A step-by-step methodology for creating a Merit-based Salary Increase Matrix from scratch, which can be immediately adapted to your organization