An excel tool for people leaders to use when determining merit increases for their teams
MERIT INCREASE TEMPLATE
The Merit Increase Template is an excel tool for people leaders to use when determining merit increases for their teams (if not done in a HRIS or if the HRIS has limitations). It is set up with the capability for the HR team to input their organization’s:
(a) Minimum and maximum increases for a 4 point performance rating scale (can be adjusted to 3 point or 5 point)
(b) Budget as a % of eligible payroll.
The tool converts all currencies to a common currency (set up to convert to Canadian dollars but can be adjusted) for the purpose of calculating the total spend against budget.