The big question is that the high turnover rate is extremely harmful for companies, as the process involves a series of dismissal costs and, mainly, training costs. Not to mention the fact that the constant movement of employees negatively affects the productivity of any business.
That is why companies must rethink their internal Human Resources policies , especially those related to employee salaries. However, how do you figure out the right time to offer a raise? It is the subject that Organize will address in this post. Check out!
Define a job and salary plan for employees
Even before trying to control turnover rates and identify the salary needs of your employees, it is necessary to establish, in a clear way and understood by all, an internal job and salary plan, to define objective criteria to justify the increase of a certain employee . It is important to emphasize that both plans, positions and salaries, have different natures.
While in the first case we are talking about the vertical ascension of a certain employee (conquest of a new position), the second case refers to horizontal locomotion, in which there is no change in function.
The salary plan can establish criteria such as length of experience, length of service and productivity. Thus, as the professional meets the criteria established by the management, it is possible to define the salary range he will fall into.
We can define, for example, in the role of administrative assistant, levels I, II and III. In order to meet the best level, in the aforementioned hypothesis, it would be necessary to complete at least 1 year of service, 3 years of experience and successfully meet all established demands. This is a way of maintaining equality and ethics among all its employees.
Specific situations and subjective criteria
Yes, it is essential to create a salary plan internally, but that does not mean that the company needs to be stuck to the established model. Flexibility is needed in some specific cases, when the objective is to effectively retain talent. Therefore, we have listed some of the most common situations in the work environment that should be taken into account when planning a salary increase for the employee in question.
Assessing the job market
There is no way to meet a demand for a salary increase if the proposal is unrealistic, considering the job market. As much as the professional stands out, it is necessary to balance his personal needs with the reality of the company and the market.
Therefore, the HR team or management – if administration is centralized – must carry out an external assessment to stipulate salary ranges and counter proposals for employees. Although it is essential to retain talent, the financial imbalance is also a point to be taken into account. Don't forget, however, to maintain a competitive remuneration.
Increasing employee load and responsibilities
It is not uncommon to find situations out there in which a particular employee or, in some cases, an entire sector, sees their workload and responsibilities increase, without having, as a counterpart, a salary increase.
In some cases, the professional may end up taking on the duties of his supervisors and, although he has not been formally promoted, there is no denying that the scenario has changed. Therefore, when delegating new functions or responsibilities, do not forget to provide some allowance or a fair salary increase. Otherwise, sooner or later, management will have to listen to the professional's complaints.
Exceptional talents, exceptional criteria
Although all the criteria listed throughout this post are necessary and essential to maintain a predictable environment for employees, there is no denying that there are cases in which the professional breaks any rule. The relationship with these employees must be intense.
So make the most of your skills by transferring large responsibilities to them, but offering a satisfactory salary reward on the other hand. When they feel that they really belong to the company and are wanted, these professionals' commitment will be greater and you will be able to take advantage of them in your most daring projects.