How to Create a Merit Matrix for Salary Increase with Goal Seek Function

[@SupremeSkeptic]

You've got some of the best human beings who ever existed working for you! Who are you?!

[@deannecurto2390]

Thank you for the step by step instructions. I needed to see every step. Very grateful for your help.

[@clarissalopez2356]

I have seen several of your videos. I have to say you are amazing at teaching this material. Your step by step and pace along with explanation is extremely helpful!!! THANK YOU!!

[@nizamsulaiman9088]

I know I'm a bit late, but this video have help me a lot on understanding the practical way to allocate increment from a budget given to me. Thank you so much for this!

[@Theorist1984]

Fantastic! Please don't stop making these videos!

[@CariprosHRAnalytics]

Thank you! I will try my best =)

[@showmoon2789]

Bravo, this is an excellent tutorial ! thank you very much for providing these

[@takeiteasy6386]

Fabulous presentation with clear cut explanation. Thank you so much

[@surajkumar-zb3ey]

Thank you! please keep up the good work.

[@salahderdar5148]

Thank you very much for this gold 🥇, this morning I realized what you show us here, I'm very very happy, thank you again

[@carolco607]

Love your presentation! Thank you for coming up with this tutorial. You are a Godsend!

[@CariprosHRAnalytics]

Glad you find it helpful Carol! Good luck!

[@enppi1]

Big Like for this amazing video🥰

[@Sheik-m1i]

very helpful...thank you!!

[@eva1920]

This is really good and easy to understand!Thanks a lot!

[@BuiQuynhNhu]

Just amazing, thank you very much!!! I wish I watched your video earlier!

[@ShahzadKhan-wd3im]

Thankyou thank you so much 😊

[@italianlifestylebysj2484]

Thank you for your sharing ^^

[@supa.scoopa]

Thank you so, so much!

[@valine83]

Really good! Love this video

[@kidsreadwithcandy8921]

Your video is completely useful and straightforward. Thank you very for sharing the practice. If you know how to allocate incentive bonus for full-time employees and sales people, appreciate your sharing :)

[@nicholascutinho8980]

Very informatic video, thank you very much. However I need to know from where the data comes in the column D (Compa-ratio), Row No 14 onwards? is it manual or is there any calculations?

[@kelley3571]

Thank you so much! Do you have a suggestion as an anchor point for a 4 point performance rating scale?

[@CariprosHRAnalytics]

good question! not sure if you have an official bell curve distribution for the perf ratings, but the general rule of thumb is to take where you'd have the most population as the anchor point. if not applicable for your case, then you can take the midpoint between your 2 middle ratings as the anchor point. I don't recommend you to go more complicated than that as it'd confuse people and decrease their trust in the system.

[@kelley3571]

@@CariprosHRAnalytics Thank you very much!

[@junmarybanez9804]

Can I ask the excel template on this?

[@crazyclown5380]

thank you so much we need to make our own matrix and its hard because we can't really ask the teacher due to this pandemic thank you so much and nice video well explained i love it i'll leave you a like and subrscribe thank you

[@MazharKhan-hx7xu]

can you provide the same sheet for practice purpose.

[@zuraidahazis6776]

This is great. Thank you

[@CariprosHRAnalytics]

My pleasure Zuraidah!

[@lukaskruger1486]

Thank you very much! A little question. How is the salary adjustment calculated for a part time employee (example 0.6 FTE)? If the salary is projected to 100%, the salary is above 120% (compa-ratio) and the adjustment is 1% in the example video with a performance ranking of 3. If I use the real salary, this salary is below 80% (compa-ratio) and with performance ranking 3, 3% is suggested in the example video. So the salary is adjusted too much. What is the formula considering the target value search with a given budget?

[@drsudhirhasamnis4766]

Can you give new link for downloading this sheet....present one is not working. Thanks

[@DRLAMB85]

Is there an up to date way to get these templates? The link isn't working, saying account is cancelled and not accepting new subscibers.

[@ramanareddy728]

This is really good, Thanks a lot... Can you suggest !! what was the base for Comp-ratio?

[@CariprosHRAnalytics]

Hi Ramana - Do you mean the formula for Compa-ratio? It's "Salary/Salary Structure Midpoint" x 100%

[@ramanareddy728]

Got it. Thanks... But I have one more question to you... I used your framework for merit review, but I am struck with pro-rata calculation for the ppl who joined in between the year. can you please help me with this. Thanks in advance.

[@CariprosHRAnalytics]

Hi Ramana - that's a good question. For pro-rata calculation for ppl that joined mid-year, there are 2 ways to do it: you pro-rate the salary, or you pro-rate the merit increase %. I'd strongly recommend to pro-rate the salary which is easy to understand and less likely to mess up. for example, if one has $50,000 annualized salary, and joined for say 6 months (50%), you still use the merit increase % in the merit metrix, but you apply the pro-rated salary of 25,000 for this person to get his/her final merit increase $. I think I will do another video next week to showcase how to do this more clearly. Stay tuned! =D

[@CariprosHRAnalytics]

Hi Ramana, check out my video on pro-rating salary here kzbin.info/www/bejne/jZfPg5iChMiiodk hope it's helpful!

[@rrajeshvasudevn1679]

Thanks a lot for your detailed video its really awesome, very informative. I have a doubt in setting up the vertical salary set up, ie. performance rating % in your video ie 300,200,100 50 & 0% or rate of the hike how will we set this out? what is the criteria we set for this on a yearly basis & update the salary hike policy/philosophy. Any relationship with horizontal & vertical salary setup ? can we amend vertical setup alone ? can you please explain this. Thanks.

[@philmorris5389]

How would I do something similar using years of service as my guide for how much an employee raise is?

[@מיכלורחיבקין-ד8מ]

Thank u ! a little question : how does the match formula in the column named "compa ratio grouping" knows that there is a range when you wrote in cells E5:I5 80-90% and 90-100% ... ? it works only if i write the specific percentage, otherwise it returns NA. thanks a lot! loved your video!

[@RachelJohnson-f9h]

The link to the template no longer works. Is there another link for the template?

[@signwith-xu8fe]

I created one and it works if you want it I can email it to you

[@eva1920]

Just want to know how to determine the anchor point?

[@eva1920]

Oh I know it. It's determined by the merit increase budget.

[@curious_7525]

I don’t feel like managers should ever control raises, the fact that she said “if I feel like it,” in relation to giving an employee an increase. Smh