Increasing employee earnings

What you need to know when you consider increasing employee income and how to increase employee income

Higher income

The decision to increase employees' earnings could take into account, among other factors, the level of performance they are demonstrating. Most companies have well-designed evaluation tools that track different performance indicators (KPIs), but the increase in rewards can also come from other backgrounds, such as:

• wage increases in the entire economy or industry where the employer is active;

• the appearance on the market of a new competitor and even the existence of counter-offer to employees;

• the need to increase employees' level of engagement and satisfaction after evaluations have shown low productivity;

• a low retention rate of staff;

• the need to attract new talent and increase the company's reputation in the market;

• direct negotiation between the employee and the employer; if the employee's request comes early, compared to the proven results, the employer can offer him the opportunity to improve his performance within a few months.

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