Term: Salary Increase
Definition:The difference between an organization's current pay and what it plans to pay in the future. Salary increases can be given based upon merit (such as pay for performance), cost-of-living increases, or matching what competing organizations pay. In the latter case, wage surveys are used to determine the amounts of salary increases.
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Course | Page Number |
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19 - Quantitative Methods Used in Salary Administration | 17 |
ERI Economic Research Institute is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CP® or SHRM-SCP®