Every employee hopes their hard work and commitment will earn them a pay raise. Using Trakstar, you can create a fair and accurate compensation planning process based on employee performance. Use evaluation scores and collect manager insights to prioritize pay increases across the workforce.
With our Compensation Recommendations feature, you can align performance evaluation scores with the appropriate compensation increase. Set specific score ranges that qualify employees for a certain percentage increase. Identify your top performers and ensure each person gets the raise they deserve.
No one has more insight into whether or not an employee deserves a raise than their manager. Ask each manager a simple “yes” or “no” question on if an employee deserves a pay increase and how much it should be. You can also include a comments field where managers make their case for employees whose scores fall outside the defined pay increase thresholds.
Generate a report that provides an overview of potential compensation adjustments across your entire workforce. You’ll see who meets your defined thresholds, combined with their manager’s recommendations so you have all the information you need to make the right decision.
Trakstar's performance management software is the best way to implement a fair system for the performance review process if you are looking to attract, identify, and keep talented employees. Request your free live demo of Trakstar today and experience a better way to do performance management.Get a Demo