How to create a MERIT MATRIX to allocate salary increases!
HTML-код
- Опубликовано: 27 июл 2023
- How to create a MERIT MATRIX to allocate salary increases
A MERIT MATRIX is also known as a merit increase matrix or salary increase matrix. It is a two-factored table that provides a framework to help managers allocate pay increases to employees. The two factors commonly used in a MERIT MATRIX are Performance Rating and Compa-Ratio. In this video, you will learn:
1) What is Compa-Ratio and how to calculate it?
2) How to create a Performance Rating and Compa-Ratio “MERIT Matrix” for salary increases?
3) How to use EXCEL's INDEX and MATCH function to allocate pay increases from a “MERIT Matrix”?
4) How to compute the salary increase budget?
If you find the video useful, subscribe to “The HR Diary” RUclips channel. Subscribing to RUclips channels is free, and you will be updated when new contents are uploaded.
Other related resources to this video:
~ How to Use XLOOKUP in EXCEL!
• How to Use XLOOKUP in ...
~ XLOOKUP vs VLOOKUP vs HLOOKUP
• XLOOKUP vs VLOOKUP vs ...
~ XLOOKUP vs INDEX & MATCH
• 2-WAY LOOKUPS (XLOOKUP...
~ How to use IFERROR in EXCEL
• How to use IFERROR in ...
~ How to use HLOOKUP in EXCEL!
• How to use HLOOKUP in ...
~ How to show formulas with FORMULATEXT Function!
• How to show formulas w...
~ What is COMPA RATIO and how do you use it for pay decisions?
• What is COMPA RATIO an...
~ How to create a SALARY INCREASE MATRIX with EXCEL!
• How to create a SALARY...
~ How to use EXCEL INDEX Formula!
• How to use EXCEL INDEX...
~ How to use EXCEL MATCH Function!
• How to use EXCEL MATCH...
~ How to use SLICERS in EXCEL TABLE!
• How to use SLICERS in ...
~ How to find PERCENTILE in PIVOT TABLE
• How to find PERCENTILE...
~ How to use PIVOT TABLE (Including how to add Filter, Slicer & Pivot Chart) • How to use PIVOT TABLE!
~ How to FIND MEDIAN in PIVOT TABLE • How to FIND MEDIAN in ...
~ How to DISPLAY TEXT in PIVOT TABLE! • How to DISPLAY TEXT in...
~ How to create a 9 BOX GRID for TALENT MAPPING with PIVOT TABLE! • How to create a 9 BOX ...
~ How to create a 9 BOX GRID for TALENT MAPPING with SCATTER CHART!
• How to create a 9 BOX ...
~ How to create a GANTT CHART with EXCEL • How to create a GANTT ...
~ How to create a SALARY STRUCTURE with EXCEL • How to create a SALARY...
~ SUMIF in Excel • SUMIF in Excel
~ COUNTIF in Excel • COUNTIF in Excel
~ How to use GOAL SEEK for GRADES • How to use GOAL SEEK f...
~ COUNT FUNCTIONS IN EXCEL (COUNT, COUNTA, COUNTBLANK, COUNTIF, COUNTIFS)
• COUNT FUNCTIONS IN EXC...
~ SUMIFS in EXCEL • SUMIFS in EXCEL
~ How to use VLOOKUP for GRADES • How to use VLOOKUP for...
~ EXCEL with ChatGPT: • EXCEL with ChatGPT
~ VLOOKUP with CHATGPT • VLOOKUP with CHATGPT (...
By Cedric Ng,
AUTHOR of International Best Sellers,
“Predictive HR Analytics, Text Mining & ONA with Excel” &
“IISS: Employee Experience & Engagement with Predictive Analytics”
~ Subscribe to my RUclips channel at : / thehrdiary
~ Follow my Facebook page at : / thehrdiary
~ Check out Books at : www.amazon.com/s?k=ng+mong+shen
This is very helpful. Thank you for creating this. It allows us to see the mechanics of performance evaluations translation into a dollar amount. Priceless!
Thanks. Glad that you found it useful
Clear and concise explanation, easy to follow even for non-excel user, hope to see more videos on HR metrics analysis using Power BI. Thanks for sharing👍
Thank you
This is really great content and very nicely covered each and every step and phenomenal explanation.
And kudos for capturing such content. Pls do cover more on such topics. If you could share the view access to the sheet (perhaps in google sheet), that would have been really appreciable as we could have went into each cell and could have understood it well and even used to play around and simulate.
This is incredibly helpful! Is there anyway I can get a copy of the spreadsheet.
Thanks for your encouraging words! I kept the contents short within one sheet so that viewers can easily copy the steps and contents.