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ULSTER COUNTY PERIODIC COMPENSATION REVIEW COMMITTEE 244 Fair St., P.O. Box 1800, Kingston, New York 12402 Telephone: 8453403800 Richard A. Gerentine, Chair Leon Butch Dener Sarah Fassett Kathleen
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How to fill out periodic compensation review

01
Gather all relevant employee data including current salary, job description, and performance reviews.
02
Review the company’s compensation policy and market salary benchmarks.
03
Prepare a summary of employee contributions and achievements over the review period.
04
Analyze the data to determine if salary adjustments are necessary based on performance and market trends.
05
Complete the compensation review form with the necessary information and recommendations for each employee.
06
Schedule a meeting with HR or the relevant department to discuss the review findings.
07
Communicate the outcomes to the employees in a timely and respectful manner.

Who needs periodic compensation review?

01
Human Resources departments responsible for employee compensation.
02
Managers who oversee team performance and employee evaluations.
03
Employees who are due for a salary review based on performance or tenure.
04
Organizations looking to stay competitive in attracting and retaining talent.
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A periodic compensation review is a systematic assessment conducted at regular intervals to evaluate and adjust employee compensation based on various factors such as market trends, performance, and organizational budgets.
Employers are generally required to file periodic compensation reviews, particularly those obligated to comply with regulatory standards and industry guidelines pertaining to employee compensation.
To fill out a periodic compensation review, employers should gather necessary employee data, analyze market compensation rates, assess employee performance, and adjust salary figures accordingly to complete the review form.
The purpose of a periodic compensation review is to ensure that employee pay remains competitive, fair, and aligned with both internal and external factors, thereby promoting retention and satisfaction.
The information that must be reported typically includes employee names, job titles, current compensation levels, performance evaluations, market comparisons, and proposed adjustments.
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