Annual Salary Review Spreadsheet

Annual Salary Review Spreadsheet

Review Base Salaries & Ensure Equity & Market Competitiveness

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Annual Salary Review Spreadsheet

This document is a spreadsheet template used by HR to review employee salaries and determine whether increases or adjustments are required. 

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Salary Review Template + Accompanying Instructions for HR 

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What is a salary review?

A salary review is when businesses check and adjust employee pay to make sure it’s fair, competitive, and within budget. It usually happens once a year to help keep employees happy, address pay gaps, and reward performance.


Why use a salary review spreadsheet?

A good salary review spreadsheet helps you:

  • Standardize salary decisions across teams
  • Keep track of performance-based raises
  • Ensure pay is fair and consistent
  • Compare salaries to industry standards
  • Budget for raises ahead of time


What use our salary review spreadsheet?

  • Automatically calculates salary increases based on performance and retention priority.  
  • Pre-built formulas for total compensation analysis
  • Built-in market benchmarking tools
  • Customizable pay grade categories
  • Clear reports to help leaders make decisions


How to run a smooth salary review

  • Gather your salary data – List out salaries, job titles, and performance ratings.
  • Compare with industry pay – Use salary surveys and reports to stay competitive.
  • Evaluate employee performance – Decide who deserves a raise and why.
  • Check for pay gaps – Make sure everyone is being paid fairly.
  • Plan your budget – Figure out what’s affordable before making final decisions.
  • Communicate changes clearly – Be upfront with employees about raises and how they’re decided.

This template is brought to you by the HR Toolkit for Small Business. 

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