QuickHelper

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    Phoniex
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Category > HR Management Posted 25 Sep 2017 My Price 6.00

Cost of living adjustments are normally made in accordance

Cost of living adjustments are normally made in accordance with Consumer Price Index administered by Bureau of National Affairs according to Martocchio (2017) p.318. This is a national index. Regional differences often are not factored in. Therefore, a low cost area of the country would benefit from cost of living adjustments. Based on my experience over the years, cost of living goes up every year 2 to 3%. Merit budgets are often slightly above cost of living. For example, if cost of living increases 2.3% the merit fund might be around 3%. This leaves little room to pay for performance and keep employees whole. This is a key challenge for HR. What stategy might HR use to reward exceptional performance?

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QuickHelper
(10)
Status NEW Posted 25 Sep 2017 04:09 AM My Price 6.00

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