Who determines raises?
Team leads will be at the centre of this process as they have the best view of individual performance, and therefore all the information to be able to decide. Your QTPRs will be used as a baseline to make an assessment of your performance of your overall performance through the year.
The agency ExCo with help from HR eventually approves all increments. They are caretakers of the overall compensation and people budgets and make sure our costs are budgeted and taken into account. The same ExCo will also come up with a structure and range for the raises during appraisal.
When do we talk about raises?
- During yearly appraisals/increment cycles: Like most companies, every year we aim to take a good look at all the salaries at Talented. Right after the feedback cycle, (which we use as input) we have compensation conversations with every member in the team. We choose to do this once a year for every individual, so that we don't need to have a constant conversation about money throughout the year. We currently have two increment cycles, April and October. Each individual will fall in one of these brackets depending on their start date. You will have had to have completed a minimum of 9 full calendar months to be eligible for your first appraisal.
- You bring it up: We don't want people to be unhappy about their pay. It is in everybody’s interest that you to tell us if you’re unhappy with how you are currently compensated. Team leads will take everybody seriously if they feel like their pay is a concern and will be open for a conversation. However, we do expect that individuals come with clear rationale so that we can have an actual conversation with specifics.
- We bring it up with you proactively: By 'we', we mean anyone from the Talented leadership or the HR & Talent Experience team.
Good reasons to ask for a raise
- There has been a drastic change in role and responsibilities and there is a significant amount of time till your next appraisal or increment cycle.
- Very steep learning curve which makes current pay unfair for someone's impact and capabilities. It's important to be able to quantify that curve.
- New information - market changes or other, internal or external, that makes someone’s impact greater within the organisation.
Talented Handbook