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Best practice of creating Compensations plans and cycles

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What is the best practice of creating plans/cycles for Compensation ?

We are a global organisation having annual salary reviews for some countries and twice a year reviews for others.

Eg: Country 1 has a review every year in January and July

Country 2 has a review every year only in July

Is it common practice to create a new plan/cycle for each salary review per country ? Or is it recommended to add a new cycle to the existing plan ?

The worksheet attributes change every year too as new elements are added each year, which are also included in the Compensation plans.

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