When Do Minnesota Company’s Give Pay Raises?

If you have employees who have been working for your company for a while, you may have encountered the question of when you should give them a raise. Whether they have asked or you have thought about this question on your own, there are some general rules you should follow. Here’s how you can tell whether you should give your employees a pay raise or not:

How Long Have They Been Working for You?

The easiest way in which you can determine whether or not to give someone a raise is to see how long they’ve been working for you. If they’ve been working for you for a year or longer, without a raise, it’s time to step up and reward their dedication and loyalty.

What Are the Comparisons in Your Industry?

When determining whether or not you should give someone a raise, always take the time to do some comp research in your industry. Knowing what employees are being paid for similar positions in your area will help you ensure that you are paying fairly. If you fail to give raises and fall below the bar, you may very well start losing workers.

How Much Do You Value Them?

Sometimes, you don’t need a specific reason to give an employee a raise (such as time on the job or meeting the local standards). When you place a high value on an employee because they arrive on time, fulfill their tasks, do great work, meet deadlines, inspire a positive attitude among co-workers, etc. it’s time for a merit raise. These are the most enjoyable raises to give.

Of course, the best way to find workers who stay on the job, meet employee standards, and are worthy of merit raises, is to partner with a staffing agency, such as Award Staffing. We help companies hire new employees who fit within your company’s payroll budget and build your workforce successfully. Contact us today.