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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.
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