Video

  • 21 minutes

Recognition and Sustaining High Performance Through a Merit Matrix

 
The foundation of a merit matrix is compensation increase budgeting. You need to identify anticipated movement of the market. The current trend in compensation increase budgets includes salary increase budgets, which at the median, are expected to hold steady at 3.0% in 2015 and 2016; likewise, median structure adjustment percentages were 2.0% in 2015 and are projected to be 2.0% in 2016. It’s viatl to understand what the organization can afford and determine the budget or make recommendation for the budget that considers competitive position against external market, anticipated market movement, and the company’s financial position.

In this 20-minute video our speaker, Amber Duncan, SPHR, reviews a sample of a merit matrix. She discusses how a merit matrix model ensures salary increases are within budget, and helps decision makers quickly identify an allocation that best meets the organization’s needs.

Amber Duncan, SPHR is a manager of compensation consulting in the Human Capital Services Practice of CBIZ, Inc. She has more than 13 years of experience in the area of human resources, focusing on designing innovative compensation programs. Ms. Duncan is a Senior Professional in Human Resources (SPHR) and a Certified Compensation Professional (CCP). Her expertise includes designing market-based compensation programs, linking pay with performance, pay structures and compensation surveys, as well as developing policies and procedures.
Runtime: 21 minutes

Faculty

Amber Duncan, SPHR

Amber Duncan, SPHR

CBIZ, Inc.