Quick Hack to Award a Merit Increase [No Ranges Needed]
In this video, I share how to award a merit increase in your company even if you don’t have any salary rangers or performance ratings.
Using the merit increase excel template, you can do 2 quick hacks to determine the increase to award an employee. This is a common question we get when someone is trying to use a merit matrix to recommend salary increases, but they don’t have a performance rating system or salary ranges.
For further explanation on the compa-ratio mentioned in the video, see this example - • How to Calculate Compa-Ratio in Excel, Fre...
You can find the Annual Merit Increase template right here - https://timesavingtemplates.com/produ...
How to use Merit template - part 1: • Calculating Merit Increase Budget and Meri...
Merit program analysis - part 2: • Merit Program Analysis - Part 2, Compensat...
For more free resources and spreadsheet tips, visit - https://timesavingtemplates.com/freer...
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