Pay Matters with David Weaver
Most organizations fail to pay their employees properly — not because they don’t want to, but because they don’t approach compensation with a plan. The compensation landscape is changing rapidly. If you don’t pay your employees what they’re worth, not only will your competitors leave you behind, but you’ll also leave yourself open to legal, social, and political backlash. As an HR professional or manager, how do you navigate the confusing world of compensation? Pay Matters is your go-to podcast for demystifying the art and science of employee compensation. David Weaver and his guests will discuss how to calibrate base salaries, reward programs and enticing incentives so you'll be able to retain your best employees.
Pay Matters with David Weaver
S2/Ep6: Determining Promotional Increases
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David
This discussion stems from an article written by compensation expert David Weaver where he explains how to determine promotional increases for employees. The talk outlines a method for calculating promotional increases based on salary ranges, performance, and market competitiveness. It also discusses the inclusion of merit increases alongside promotions and the handling of lateral moves and demotions. Weaver emphasizes the importance of rewarding high performers with appropriate increases to retain key talent and ensure employee satisfaction.