Six points to consider when conducting salary reviews
1. Why are you conducting a salary review? Do you want to reflect cost of living, ensure that you are competitive, or reward high performance?
2. What is your budget?
3. What do your employment contracts state regarding salary reviews and pay rises?
4. How are your employees performing, are they achieving their goals?
5. What are other local businesses paying?
6. What are the company’s financial projections?