How to create a SALARY INCREASE MATRIX with EXCEL!

A salary increase matrix (which is also known as merit matrix) is a two-factored table that provides a framework to help managers allocate pay increases to employees. The two factors commonly used in a salary increase matrix are “Performance Rating” and “Compa Ratio”. Performance Rating are usually plotted along the vertical side of the matrix, and the compa ratio are usually plotted along the horizontal side of the matrix. In this video, you will not only learn what is compa-ratio, you will also learn how to create 2 types of SALARY INCREASE MATRIX with EXCEL!

1) In example 1, you’ll learn how to create a merit matrix using a “5-point performance rating scale” and “5 categories for compa-ratio”. The budgeted salary increase will be set at the mid of rating 3.

2) In example 2, you’ll learn how to create a merit matrix using a “7-point performance rating scale” and “3 categories for compa-ratio”. The budgeted salary increase will be set at the max of rating 4.

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By Cedric Ng,
AUTHOR of International Best Sellers,
“Predictive HR Analytics, Text Mining & ONA with Excel” &
“IISS: Employee Experience & Engagement with Predictive Analytics”
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