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How to determine pay raises for employees in 2022

Business Management Daily

That means it’s a great time to start thinking about pay raises. Pay raises are particularly important going into 2022 as turnover rates continue to soar. Employees that feel undervalued or underpaid will not stick around long, so do your best to provide annual salary raises. How to determine pay raises.

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Employee Retention Strategies Go Beyond Competitive Salaries

HR Digest

A Gallup report stated that the cost of replacing an employee could range from one-half to two times the employee’s annual salary. Consumer Affairs reported the top 5 reasons for quitting to be in search of better pay and better benefits, insufficient pay raises, unmet needs by their former employers, and pay inequality.

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How inflation affects pay raises

Business Management Daily

If you work a job long enough, you eventually come to expect a salary increase, just as most companies expect to give you one. But what happens when the raise you receive ends up leaving you with less money than you had before? The few bucks you saved on raises last year are likely to incur costs in turnover and training this year.

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What’s a merit increase, and should your business use them?

Business Management Daily

A merit increase or merit raise refers to a pay increase based on an employee’s performance. Merit pay is a permanent increase to an employee’s base salary and tends to go hand-in-hand with regular performance reviews. In other words, not every employee will receive the same size of an increase to their salary.

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Google Execs tell workers they won’t raise pay to match inflation

HR Digest

According to audio of an internal Google meeting obtained by CNBC, Google has made it clear to its employees that it will not raise salaries across the board in response to inflation. . Inflation and Employee Salary in The Tech Industry . The tech industry has grown exponentially throughout the past decade.

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How to write a request for a pay hike

HR Digest

When you have been in the current position for more than a year and have no plans to move, then the next step is to request for a pay raise. When you ask for a raise, preparation is the key. Timing your pay raise request is essential. It would be best if you timed it along with the annual pay rise decisions.

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16 Employee Perks Your Team Wants More Than a Pay Raise [Infographic]

SnackNation

16 Employee Perks Your Team Wants More Than a Pay Raise [Infographic]. What they fail to realize is that for today’s worker, salaries are more of a threshold than a scorecard. What they fail to realize is that for today’s worker, salaries are more of a threshold than a scorecard. But what perks really matter to employees?