Salary structures

jmacleod

I am in the process of setting up a compensation plan for our company and change the way salary increases are handled. We normally used a straightforward process to complete a performance evaluation and based on the evaluation give a 2%-5% increase. We are looking to be more comparable to the market and 5% definitely doesn't seem to be the approach companies are using. I would love to hear how other companies handle their compensation package and if they use market survey or COLA. Also would like to know how companies handle bonuses. Do you have a bonus policy? Do companies provide salary increases and bonuses or one or the other? Thanks

Susan Prince

Thank you for your inquiry. You can find out how other companies manage the merit increase process by viewing the results of our annual pay budget survey. This year's survey results are being compiled and should be ready within the next two weeks. In the meantime, you can find last year's survey results here: http://compensation.blr.com/surveys/Pay-Budget-and-Variable-Pay-Survey-Summary-with-Ta-169039/ . It will include information on what other companies planned for 2017.