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    Standard Merit Matrix Example II: Performance With Higher Payouts

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    bijuajithesh
    This document provides an example of using a merit matrix to distribute salary increases totaling 3.255% of the total payroll budget of $1 million, for a total payout of $32,550, while allowing for higher payouts to top performers within budgetary restrictions. The merit matrix offers flexibility to adjust salary increase percentages by performance categories and employee distributions to meet budgetary constraints.

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    Standard Merit Matrix Example II: Performance With Higher Payouts

    Uploaded by

    bijuajithesh
    30 views6 pages
    This document provides an example of using a merit matrix to distribute salary increases totaling 3.255% of the total payroll budget of $1 million, for a total payout of $32,550, while allowing for higher payouts to top performers within budgetary restrictions. The merit matrix offers flexibility to adjust salary increase percentages by performance categories and employee distributions to meet budgetary constraints.

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    This document provides an example of using a merit matrix to distribute salary increases totaling 3.255% of the total payroll budget of $1 million, for a total payout of $32,550, while allowing for higher payouts to top performers within budgetary restrictions. The merit matrix offers flexibility to adjust salary increase percentages by performance categories and employee distributions to meet budgetary constraints.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    30 views6 pages

    Standard Merit Matrix Example II: Performance With Higher Payouts

    Uploaded by

    bijuajithesh
    This document provides an example of using a merit matrix to distribute salary increases totaling 3.255% of the total payroll budget of $1 million, for a total payout of $32,550, while allowing for higher payouts to top performers within budgetary restrictions. The merit matrix offers flexibility to adjust salary increase percentages by performance categories and employee distributions to meet budgetary constraints.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 6

    Standard Merit Matrix Example II: Performance with Higher

    Payouts
    Consider your total payroll budget is
    $1,000,000, and you do not want to
    exceed $33,000 within your merit
    increase pool. That gives you 3.3% to
    play with
    HR professionals know that the merit matrix offers
    flexibility. Salary increase percentages can be
    adjusted by performance categories and employee
    distributions to meet budgetary restrictions
    In the above example below, the sum total to payout

    employees is 3.255% of total payroll (i.e., $1,000,000 x

    3.255% = $32,550). We are still within budget!


    Two-Variable Merit Matrix Example: Performance & Range
    Position

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