|Updating our records....|
John's grandpa considered himself lucky to stay in the job. He used to throw a party if he got a pay raise;
it didn't matter who else got what.
Fast forward to today, John sincerely believes that rewards are directly related to performance.
So, if he does well, he should be compensated well.
Pay raise & bonus are tricky matters - less so when closely linked to performance.
John may be an exceptional performer in an ordinary department, while Susan an ordinary one in an otherwise exceptional department performance. Throw in their current pay scales & determining pay raise can be quite a thankless exercise.
With GroSum, department wise budgets can be set based on current salaries & review performance. This sets the overall limit within which employee salaries need to be contained. Similarly, for bonuses - check the eligibility & set the amount the company is willing to pay in bonuses. #budgeting
OK, the budget is set, but that's easy. We still haven't figured out what the increment & bonus payout should be. Well, GroSum provides easy auto recommendations based on review performance, budget and the limits to which increments and bonus payouts should be restricted for each performance grades. The irony is that the easy recommendations are outputs of complex optimization techniques. #auto_recommend_increment
Based on the auto recommendations, John & his colleagues are thus provided an objective method to determine their pay raise and bonus disbursements. At least, they can now have lesser reasons to sulk.
|Do get a coffee & stay a while!!!|