The pay review process, where you set a budget and distribute it among your employees sounds straightforward but the practicalities can make the task more than a little frustrating. You need to balance factors such as inflation, salary movement in the market, fairness and affordability for the business. On top of that you need to engage your directors, managers and employees in the process and give them the support, tool and information they need.
Drawing on our experience of running pay reviews for clients and as in-house HR professionals we have developed PayMatters a set of pay review tools to help your business make use of Excel’s formulas and analytics without having to be an advanced Excel user. These are:
Innecto Pay Modeller – allows you to model different budgets and auto-allocate pay increases.
Innecto Pay Reviewer –allows tracking of spend by department.
To find out more about these tools or any aspect of conducting a pay review please get in touch.
