There’s this young woman, working now for five years at a large agency. This is her first job. She’s loved every minute of the five years she’s been here; but, now she’s flirting with headhunters, recruiters and HR heads of other agencies.
That’s ridiculous. She loves her job, she loves the agency she works for…
But the large agency that she works for, thanks to the downturn, didn’t pay any increments last year. She stayed on, thinking it would be an industry-wide phenomenon.
It was, largely.
Except for those who jumped ship and switched jobs. While agencies froze salaries, most hired (when they had to) at current salary plus figures. Those who changed agencies as good as got increments. Our protagonist didn’t.
This year, the economy (at least in India) seems to have bounced back. Water-coolers are abuzz with the possibility of increments, with the quantum of increments when they happen, etc.
Most critical is the date of the increment. Not the date from which the increment would become effective, but the date on which it would be announced.
Managers, make no mistake. This year, appraisals need to be completed early and increments announced early. No one will buy the ‘don’t worry, the increments will be effective April 1, even if we announce it on Aug 1’ line.
This year, more than ever before, the appraisal process needs to start now. Transparency is the order of the day. Can you tell your employees:
a) Whether they can expect appraisals at all this year?
b) If so, when?
c) Whether they can expect increments this year?
d) If so, when?
e) What will the range of increments be in?
The more transparent companies are, the less likely that their employees will look for jobs elsewhere.
And on another note, wouldn’t you rather have someone, like our protagonist, with whom you have a five year satisfactory relationship, continue to work with you than be forced to replace her with a newcomer at an increased cost?
Keep an eye on those with 3-10 years of experience. They're the ones with the maximum need for the increments. They're the ones who are most motivated. They're the ones who deliver, day after day.
Chew on that…
That’s ridiculous. She loves her job, she loves the agency she works for…
But the large agency that she works for, thanks to the downturn, didn’t pay any increments last year. She stayed on, thinking it would be an industry-wide phenomenon.
It was, largely.
Except for those who jumped ship and switched jobs. While agencies froze salaries, most hired (when they had to) at current salary plus figures. Those who changed agencies as good as got increments. Our protagonist didn’t.
This year, the economy (at least in India) seems to have bounced back. Water-coolers are abuzz with the possibility of increments, with the quantum of increments when they happen, etc.
Most critical is the date of the increment. Not the date from which the increment would become effective, but the date on which it would be announced.
Managers, make no mistake. This year, appraisals need to be completed early and increments announced early. No one will buy the ‘don’t worry, the increments will be effective April 1, even if we announce it on Aug 1’ line.
This year, more than ever before, the appraisal process needs to start now. Transparency is the order of the day. Can you tell your employees:
a) Whether they can expect appraisals at all this year?
b) If so, when?
c) Whether they can expect increments this year?
d) If so, when?
e) What will the range of increments be in?
The more transparent companies are, the less likely that their employees will look for jobs elsewhere.
And on another note, wouldn’t you rather have someone, like our protagonist, with whom you have a five year satisfactory relationship, continue to work with you than be forced to replace her with a newcomer at an increased cost?
Keep an eye on those with 3-10 years of experience. They're the ones with the maximum need for the increments. They're the ones who are most motivated. They're the ones who deliver, day after day.
Chew on that…
