Pay Increase Tool
With the highest inflation rates in decades, companies are planning the highest salary increases for their budgets next year.
At the same time talent scarcity and high attrition rates remain employers ‘top concerns’.
While the annual salary review process was always Comp & Ben’s priority, this year it requires even more attention and those who get it right will gain the advantage.
Go beyond traditional salary increases matrices while designing your salary increase distribution algorithm
Traditionally, companies planning salary increases are taking into consideration employee performance and compa-ratio (pay-zone).
‘Salary increase matrices’ have been around for a long time. You can find a ‘Pay Mix’ table in the first edition of Armstrong’s Handbook of Human Resources Management Practice published in 1977. 45 years later you can now enrich your increases distribution algorithm with additional factors.
With Pay Increase Tool you can go beyond traditional merit pay matrices.
Mercer’ Pay Increase Tool allows you to incorporate 3 factors of your choice into your design of the salary increase distribution algorithm and also give an increase premium to your selected incumbents.
Price of Pay Increase Tool - EUR 5,000, includes:
- Adaptation of the tool to the company's requirements
- Assistance in filling in the PIT with company data
- Training on how to use the tool
Additional services (on clients request):
- Workshops on how to build a pay rise strategy (consultant hours)
- Remuneration Deviation Report - a report to help calculate the deviation of company remuneration from the external market (Compa Ratio)
- Adaptation of the PIT tool to customer requirements (new functionalities)