FACTFINDER
November 2016


. . . helping organizations find solutions to people-related problems



Pay Raises! Who Gets Them, Who Doesn't, And Why?

People are the most important assets of any business. Now that the 4th quarter is here, it makes sense to examine your goals, your sales, and your profits with people in mind - and how you plan to allocate salaries. Ask yourself:

  • Are performance management and salary increase guidelines in sync?

  • With a flat economy, how can you reward top performers to be sure you don't lose them if things improve?

  • Will the compensation decisions you make be well received by your employees and supervisors?
Particularly in times of slow growth, it's important to be creative in how you recognize top producers. For instance:
  • If cash is short, use vacation packages or other non-monetary rewards to acknowledge dedication. Just make sure you are fair and equitable.

  • Where possible, build bench strength by re-configuring jobs and granting increased responsibilities among your most devoted worker bees.

  • Rather than giving insignificant raises to mediocre performers - which can provoke backlash and appear to penalize top performers - counsel them and assist them to improve. Match pay increases with honest evaluations.
Want more tips on how people-centered organizations can transform these tough decisions into opportunities to develop a more productive workforce and greater long-term success? Call HRA Services, Inc. at (610) 869-4494 or email us now. We'll help you develop a winning team.


Warm regards

Dave Martin

610-869-4494

HRA Services, Inc.
www.hraservices.com

"Applying Systematic Thinking to the Human Dimension"