Mandatory Increase
Created Sep 18, 2024 (06:09)
by Bruno lorenzo Spinelli
Definition
Increase of Annual Base salary as required by law or other regulations (e.g. bargaining agreements) that applies to a particular group of employees regardless of individual or collective performance.
Market Pay Adjustment
Created Sep 18, 2024 (06:09)
by Bruno lorenzo Spinelli
Definition
Exceptional one time increase that can be applied if an employee is paid below peers in the same salary range with similar job / experience / knowledge / performance or the external market for the position (external or internal equity).
