Salary Increase Planning

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Course Contents

Introduction
- page 1
- Overview
  - page 1
Staying Competitive
- page 2
- Competitive Strategy
  - page 2
- Salary Surveys
  - page 3
- Aging survey data
  - page 3
- Market Strategy
  - page 4
Rewarding & Recognizing Your Employees
- page 5
- Base Pay
  - page 5
- Short-Term Incentive Plans
  - page 5
- Long-Term Incentive Plans
  - page 5
- Benefits
  - page 6
- Work-Life Effectiveness
  - page 7
- Recognition
  - page 7
- Talent Development
  - page 7
Types of Base Salary Increases
- page 8
- Merit Increases
  - page 9
- General Increases
  - page 10
- Cost of Living Increases
  - page 10
- Length of Service Increases
  - page 10
- Other Increases
  - page 11
  - Geographic Differentials
    - page 11
  - Market Adjustments
    - page 11
  - Adjustments to Minimum Wage/Salary Range Minimums
    - page 11
  - Internal Equity Adjustments
    - page 11
Budgeting for Salary Increases
- page 12
- How Much?
  - page 12
- Market Movement of Salaries
  - page 13
- Mandatory Increases
  - page 13
- Competitive Position to the Market
  - page 13
- Salary Increase History
  - page 13
- Company Turnover Rate
  - page 13
- Feedback from Key Internal Sources
  - page 14
- Financial Ability to Pay and State of the Business
  - page 14
- Is the Recommended Program Implementable?
  - page 14
- Total Labor Costs
  - page 14
Interactive Exercise
- page 15
- Your Turn
  - page 16
Conducting Salary Planning
- page 17
- Market Pricing of Jobs
  - page 17
- Salary Range Development
  - page 17
- Compa-Ratios
  - page 17
- Compa-Ratio Report
  - page 17
- Salary Increase Budgeting
  - page 18
- Approaches to Budgeting
  - page 18
- Bottom-Up Budgeting
  - page 18
- Top-Down Budgeting
  - page 19
Salary Increase Administration
- page 20
- Timing of Salary Increases
  - page 20
- Participation Rate
  - page 21
- Should Increases be General or Merit?
  - page 21
- Implementation
  - page 22
- Automation
  - page 22
- Other Items to Consider
  - page 23
Summary
- page 24