Pay Increases
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What constitutes giving a pay raise? Do companies willingly or hesitantly give them? What field receives the most pay raises (Sales?) and why? Tips on getting a pay raise? Do employees still out perform co-workers after receiving a pay raise?
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Solution Summary
This solution discusses various aspects of pay raises and compensation strategies.
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What constitutes giving a pay raise?
-- Each company uses its own criteria in regards to pay raises. Some companies give pay raises based on a certain schedule, such as every year or every two years. Others use performance reviews as a guide. When the employee's performance review is given (at whatever interval), a pay raise is then decided. Other companies give pay raises based on performance. If any member of management at our company notices hard work or extra effort on a continuous basis from a certain employee, we review the employee's current pay level to determine if a pay raise is possible.
Do companies willingly or hesitantly give them?
-- This is also based upon the company. The hesitation comes from the expense of the raise. The actual raise is an added expense but that company also must take into consideration additional expenses that come with ...
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