Oscar Delaney· Director of Benefits, Lumen Biosciences
Asked in Global & Mobility ·
We have 310 employees in Istanbul and Izmir, part of a pharmaceuticals group of about 18,000. For the last two years we have run a main review in January and an interim one in July. This year the January increase was 38% on average and people were asking about July before the letters had gone out.
Group finance wants to return to one review a year and absorb the rest through a one-off payment. Local management says we will lose our sales force if we do.
What cadence are others on, and is anyone using lump sums rather than base increases for the mid-year step?
1 helpful · 5 replies · 15 views · 5 following
Director of Benefits, Tidewater Utilities
Two reviews, January and July, same as you, and no plan to change. Around 70% of the companies in the pulse survey we take part in were still doing a mid-year adjustment last summer. Going to one review while your competitors stay on two is a decision to pay below market for half the year.
Benefits Analyst, Silverline Media
Compensation Analyst, Qasr Holdings
A middle route that our finance team accepted: one full review in January and a July adjustment that is formula-driven and capped. If official inflation for the first half exceeds 15%, base moves by half of the excess over 15, with a cap of 12 points. Nobody has to negotiate it, finance can model it, and employees can predict it.
Total Rewards Manager, Silverline Media
Worth separating the populations. Our sales and medical roles get two reviews because that market moves twice a year. Head office support roles moved back to one review with a larger January increase and we saw no difference in turnover.
Benefits Analyst, Larkspur Manufacturing
Which inflation figure are you using? The gap between the official number and what employees feel in rent and food has been wide. We stopped referencing any index in our letters and talk only about market movement from survey data.
