Dear HR Manager,
Re: "Accordion Wage Bump" formula for Bumping Wages in an Industry Adjustment.
There may come a time, due to Industry demands, that you will need to make adjustments and raise your company's starting minimum wage substantially. After thoroughly studying the market and getting your CEO's and CFO's permission you will set out to give new hires the new starting wage.
One of the problems in increasing your company's starting wage is that those who have worked in the company for some years now may get offended and will also expect their salaries to be bumped, even if their wage is greater than the new starting wage. If you give everyone the same exact bump, your CFO may have to have a word with you. If you have a few employees that have this issue, you may deal with them and resolve their differences one at a time. The negotiation process, even after an agreed upon resolution for each, may result in some bad feelings.
This site has been made as an alternative to negotiations and full all out bump for everyone, to help avoid these bad feelings and give a fair and reasonable bump to those fellow employees who forever are always comparing their wage with others. In introducing a formula for a wage bump, for all involved (up to the "BumpUpTo" value) the negotiation process is averted and formula itself gets to be the fall-guy. If employee is making above the "BumpUpTo" rate, go ahead plug in that employees wage into formula and see what happens.
Please note,there are other alternative approaches that may work for you. However, if you do like the results, please pass on this website to help other HR managers solve their wage bump dilemma.
Good Luck,
Fellow HR manager
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Your Current Min/Start : |
$ |
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Desired New Min/Start : |
$ |
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BumpUpTo : |
$ |
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(employee wages you wish to effect up to) |
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Old Wage : |
$ |
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New Wage : |
$ |