A salary planning template is used by the managing authority to plan out the salaries of their employees for a specific period of time according to their budget. Generally, employers or department heads are provided with a salary budget for a year by their company, so they can decide whether an employee can get a raise in the salary for the following year. A salary planning format plays a significant role in managing your employees during the whole year. Salary planning format is composed by evaluating the performance of the employees during the past year and the duties they have been assigned in relevance to their current salary. The employer needs to fully understand the salary structure for each job designation or grade assigned to the employees.
Details of Salary Planning Template
The components of a salary planning format include, the company name, name of the department, average salary rise percentage for each job position, Planning year and rise pool. Besides these, the salary planning format must also include name of the employee, his/her job position and their current salary. The percentage of increment applied to their current salary must also be clearly mentioned in the salary planning format. Along with that, the format also incorporates the amount of salary increase, new position or promotion if given to the employee with rise in salary, should be mentioned. Lastly, it contains the budget and the annual impact of the salary adjustments. It is signed by the person who has authority and is approved by the executive chair person of the company. This perfect and high quality format is an example of our quality work and for your ease, we are providing a download button underneath the template.
Templates for Salary Planning
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No. of Pages: 1