How to caluculate Employee Evaluation and Perfornance Appraisal in which basis...
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Hi, All Please solve my query I wanted to know if the hike or increment would be on basic or on the CTC. I just want to know what is the max % hike that an IT company can offer?
From India, Indore
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From India, Indore
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Hike is totally dependent on the Company's sole discretion. There is no such rule to bind the percentage of hike in any company.
Increment can be on basic and also on CTC. There are no such obligations.
From India, Calcutta
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Increment can be on basic and also on CTC. There are no such obligations.
From India, Calcutta
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In layman terms, hike depends first on individual performance against laid-down goals, availability and price of skills in the market, and lastly, the company's financial performance.
Soumik, the word "discretion" is misleading and incomplete. It's a scientific process and transparent too. Job evaluation methods like Hay Point factor, salary surveys, etc., help in the above process.
Next, if the company has a job grading system in place, then even hikes would be defined. The sentence, "There is no such rule to bind the percentage of hike in any company," is incorrect, and job grading has been there for several decades.
Increment can be on basic or CTC? Basic is the cornerstone of various calculations, so for the last several decades, it's most popular. In the Middle East, it's basic + housing. It's normally not on CTC because there are various complications involved. There are several allowances which vary across roles/geographies, etc., so reverse calculations may not be an easy task.
From India, Delhi
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Soumik, the word "discretion" is misleading and incomplete. It's a scientific process and transparent too. Job evaluation methods like Hay Point factor, salary surveys, etc., help in the above process.
Next, if the company has a job grading system in place, then even hikes would be defined. The sentence, "There is no such rule to bind the percentage of hike in any company," is incorrect, and job grading has been there for several decades.
Increment can be on basic or CTC? Basic is the cornerstone of various calculations, so for the last several decades, it's most popular. In the Middle East, it's basic + housing. It's normally not on CTC because there are various complications involved. There are several allowances which vary across roles/geographies, etc., so reverse calculations may not be an easy task.
From India, Delhi
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