Salary Increases for Hourly Employees Using Grade Step Progression Formula

Summary:

We have a requirement that hourly employees receive an increment of X amount added to their salary at the end of every year. This increment is the same throughout all different grades. We are hoping to use grade progression ladder to achieve this with the help of a formula.

Content (please ensure you mask any confidential information):

We are opting for a formula for the Salary Calculation Method instead of grade steps because there is a fairly large range within each grade. (In other words, two employees with the same grade can have different salaries. Additionally, we can’t create numerous grade steps to accommodate this because the salaries don’t follow consistent increments or a predictable pattern.)