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 increments slabs for all positions to bring equality at all levels. Current practice is, everyone gets yearly increment based on their performance and Incremental salary is decided by the top management. We don't have fixed percentage for increment slabs yet. Kindly guide me how can i set the percentage for Increment slabs for Managers and Executive levels.
From India, Delhi
1From India, Delhi
Hi Meenakshi,
In general all grades of employees are provided increments like 8% to 10% depending on the perofrmance it can be decided.
You can always grade the increment slab as Good Performer,Average performer and poor performer.
There are always exceptions for extra ordinary performers.
You can try out.
Regards
Vamsi Krishna
From India, Hyderabad
In general all grades of employees are provided increments like 8% to 10% depending on the perofrmance it can be decided.
You can always grade the increment slab as Good Performer,Average performer and poor performer.
There are always exceptions for extra ordinary performers.
You can try out.
Regards
Vamsi Krishna
From India, Hyderabad
Thanks for the guidance Venkata Sir.
Also kindly guide me on 1 thing, as we hire new candidates on 3 months training period. Once they complete their training period, we give them salary hike as management decides, but this practices is not well accepted, as its doesn't bring uniformity. Now we are planning to have fixed hike % for confirming probationary employees also. Is there any fixed salary hike slab sheet scale for that.
Regards,
Meenakshi Kiran
From India, Delhi
Also kindly guide me on 1 thing, as we hire new candidates on 3 months training period. Once they complete their training period, we give them salary hike as management decides, but this practices is not well accepted, as its doesn't bring uniformity. Now we are planning to have fixed hike % for confirming probationary employees also. Is there any fixed salary hike slab sheet scale for that.
Regards,
Meenakshi Kiran
From India, Delhi
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
From India, Hyderabad
Can i get some policy format for the above discussion sir. Regards Meenakshi Kiran
From India, Delhi
From India, Delhi
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 across the board 10% increase. Therefore, for same appraisal score, % of increase at higher level may be less and lower level may be more.
S K Bandyopadhyay ( WB, Howrah)
From India, New Delhi
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 across the board 10% increase. Therefore, for same appraisal score, % of increase at higher level may be less and lower level may be more.
S K Bandyopadhyay ( WB, Howrah)
From India, New Delhi
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