What does salary review mean?
A salary review means evaluating an employee's work performance to determine if the compensation accurately shows their value to the company and the external job market. Salary review is an HR duty and it takes some indicators into account, such as employee position, work performance over an extended period and the company's compensation budget.
What is a salary review date?
A salary review date is a designated period or date when employees are eligible for an increase in pay rate. Typically, companies conduct salary reviews annually, quarterly, or bi-annually on a scheduled date announced by HR. The HR manager is expected to ensure a timely and fair appraisal of employees' performance and contribution.
How do you write a salary review letter?
A salary review letter is a good way to communicate a salary raise. It should congratulate and emphasize the employee's notable performance and clarify why they are getting a raise. Also, a salary review letter must include the precise details of the salary raise, such as the amount, the breakdown and traits the manager hopes to see in the employee's work.