Annual staff increment

[Vijay Sarup]

Dear MC members,

Every year in January,we give increments to staff.

Typically this 15% of salary to cover inflation and some kind of group incentive.

Suggest we give 15% increase this year also wef from Jan2016.

Pl send in comments by 3rd Feb

Rgds

Vijay

[Anoop Verma]

Did we give any other bonus during the year?. Still difficult to justify 15% increase especially to senior staff whose base is high. Inflation now is much lower. If I were to put a figure it would be 8%.

Regards

Anoop

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[Sanjay Kumar Shrivastava]

I guess we have given bonus during Diwali  and had resolved not to give any further increments. Am I correct?

In my opinion nothing should be paid now.

Best Wishes

Sanjay Shrivastava

[Vijay Sarup]

Only Diwali Bonus was given but last year we did away with performance bonus which used be average 7% and merged it with increment

On 2 Feb 2016 08:28, "Anoop Verma" <anoopv...@gmail.com> wrote:

[Vijay Sarup]

We need to take a call of annual increment.

Traditionally we paid average of 7% performance bonus and 15% increment.

Last year we did away with performance bonus and paid only 15%.

I have had feedback from Anoop and Sanjay only.

Inflation is lower than last year.I suggest 12.5%.

Rgds

Vijay

[Vijay Sarup]

Sanjay-there was no resolution to do away with increments,In my view it also not fair.

[Venkat Krishnan]

Dear all

I don't think that we should go on the basis of % inflation that is declared by WPI. 

Fundamentally everyone has to be covered for cost of living  increase + a betterment of lifestyle than the previous year.  It would be a complex calculation if one were to develop this logically. 

During the budget we have taken an amount as expense towards salaries. As long as the amount does not increase this value we should go ahead. Also, we should reduce from the figure any salaries that were not budgeted. Eg. If Priyanka Marathe did not work for the period of 6 months this should be proportionately reduced from the budget and should not be distributed amongst other staff. So is my opinion. 

Best regards

Venkat

Sent from my iPhone

[Vijay Sarup]

Dear All,

Got some feedback.

I suggest we go by the budgeted amount of 15%.The next committee can consider fundamental reform.

Pl respond by this evening.

Rgds

[Venkat Krishnan]

Dear Vijay,

I have already expressed my consent to this, subject to our being within the budgeted amount. Also we should not distribute any additional that we may have as credit....from outgoing employees. Suggest that it should be only on the basis of % increase that we have taken, including the bonuses that may already have been distributed.
The overall costs should be restricted to the budgeted figure (less salary of Priyanka).  You can take a view on the new estate manager, if she should be given the hike. In my opinion, this is may not be appropriate, unless there are any exceptional reasons for considering her.

Regards
Venkat