Kamsa’s Comp Planning tool allows you to model out your salary increase budget, based on a Salary Increase matrix you can establish for each country and each employee’s pay position against market (i.e., compa-ratio range) and performance rating. If your organization does not use performance ratings, you can establish the salary increase % guidelines based on compa-ratio range only.
Kamsa will default the % increase guidelines based on market trends and benchmark data, however, based on your actual budget, you can make tweaks to the percentages to meet your needs.
Using Kamsa’s Comp Planning tool, you can also make sure you account for any additional budget needed to get any employees who are below market (< 85% compa-ratio) to at least the minimum of their salary range (at least 85% compa-ratio). You can even establish a cap to that salary increase (e.g., up to 10% of their salary) to be mindful of your budget.
Video: Salary Review budget
Reach out to support@kamsa.com for help or pro tips related to budgeting.