Important Steps To Follow While Preparing For Your Salary Review
A salary review is a very important period on the year for any employee. This is the period when the performance of the employee is reviewed and based on that the salary is increased. In order to avoid last minute crunches, it is better to be prepared for the salary review much ahead of the scheduled time. Preparing for the salary review is not a very difficult thing, but at the same time it is important to follow certain steps that will help in easily preparing yourself for it.
In case you are handling a team, it is highly essential that you are prepared well in advance as to who are the performers or non-performers in your team. Based on the performance and the date when the last review was done, the list of eligible employees has to be decided. As the records that are prepared during the salary review will be maintained by the company for years to come, care should be taken that the correct details are filled in at the appropriate places. Each and every review is as much important to the company as it is for the employee. It involves an increase in cash flow and hence the correct path should be followed in giving it to the most deserving candidates.
The salary review for employees should be prepared well in advance and concrete details for each and every data are required. You should be well prepared to answer all the questions that are raised by the team members and also be fully equipped to answer all the questions or doubts that come to their mind. That is the primary reason why written or recorded reviews are more effective than oral ones. The first step that is to be done in preparing for the review is to have the respective job descriptions at hand. Taking things and discussing the details in the job description is done so that the expectations are set in the right direction. The increments, if any, are likely to be linked to their job description as well as their current performance. It is important that you are a good listener, hear the employee thoroughly and make notes accordingly.
It is important that every accomplishment of the employee is noted down before the discussion on the incentives and salary review. The evaluation is to be done for each individual prior to the meetings and you should have it ready to be a part of the agenda that is to be followed in the salary review meetings. It is also good to record the positives and negatives of each employee as part of the review, so that it can be set as a benchmark to determine their performance in the following year.
Salary review also considers the teamwork potential of the employee by analyzing their interpersonal skills across teams. Some companies also take the feedback of other co-employees or people from different teams to get a correct feedback with respect to the work performed by the employee.
In case you are handling a team, it is highly essential that you are prepared well in advance as to who are the performers or non-performers in your team. Based on the performance and the date when the last review was done, the list of eligible employees has to be decided. As the records that are prepared during the salary review will be maintained by the company for years to come, care should be taken that the correct details are filled in at the appropriate places. Each and every review is as much important to the company as it is for the employee. It involves an increase in cash flow and hence the correct path should be followed in giving it to the most deserving candidates.
The salary review for employees should be prepared well in advance and concrete details for each and every data are required. You should be well prepared to answer all the questions that are raised by the team members and also be fully equipped to answer all the questions or doubts that come to their mind. That is the primary reason why written or recorded reviews are more effective than oral ones. The first step that is to be done in preparing for the review is to have the respective job descriptions at hand. Taking things and discussing the details in the job description is done so that the expectations are set in the right direction. The increments, if any, are likely to be linked to their job description as well as their current performance. It is important that you are a good listener, hear the employee thoroughly and make notes accordingly.
It is important that every accomplishment of the employee is noted down before the discussion on the incentives and salary review. The evaluation is to be done for each individual prior to the meetings and you should have it ready to be a part of the agenda that is to be followed in the salary review meetings. It is also good to record the positives and negatives of each employee as part of the review, so that it can be set as a benchmark to determine their performance in the following year.
Salary review also considers the teamwork potential of the employee by analyzing their interpersonal skills across teams. Some companies also take the feedback of other co-employees or people from different teams to get a correct feedback with respect to the work performed by the employee.