BEGIN:VCALENDAR X-WR-TIMEZONE:US/Eastern DTSTART:20191107T130000 DTEND:20191107T143000 VERSION:2.0 LOCATION:OnlinePRODID:-//Training Doyens //EN METHOD:REQUEST BEGIN:VEVENT DTSTAMP:20191107T000000 DTSTART;TZID="US/Eastern":20191107T130000 DTEND;TZID="US/Eastern":20191107T143000 SUMMARY:How to Construct Salary Ranges, Administer Increase Budgets and Build Merit Increase Matrices in Today's Economy DESCRIPTION: Let’s be honest. People work for money. The salary budget while often the biggest expense in a company, is to employees a reward system for their work performed in your company and for the skills they bring to the workplace. Before you get started, keep in mind that adopting a competitive, pay for performance philosophy requires some extra work. Because a merit matrix connects performance to market rate pay. However, in order to differentiate wages based upon the results of your employees, you need to know what you want people to do, be able to sort out how they are performing and, based on that, differentiate their pay. The merit-based, pay-for-performance matrix also serves as a guide for supervisors so that they suggest pay increases that are fair and support business objectives. The benefit of your extra effort regarding salary benchmarking is that you can drive your funds towards rewarding high-performing employees who may currently be paid less than the market. Because, realistically, salary budgets and increase budgets are determined not only by compensation philosophy and range movements but the actual budget (or not) the employer has. PRIORITY:3END:VEVENT END:VCALENDAR