Is there a formula for salary increases based on employee performance and career development goals?
Q: Are plans for Skills Acquisition made only during the annual Performance Review process or can they be updated throughout the year? Can bonuses be awarded throughout the year for skills acquisition? A: Plans for skills acquisition can be made throughout the year, and employees can be rewarded for skills acquisition at any time. The planning document (Learning and Career Development Action Plan) is a living document that can be changed and edited on an ongoing basis. Supervisors are encouraged to work with employees on these plans throughout the year. Increases (both in base salary and one time bonuses) are possible throughout the year for a variety of reasons, including progression along a career path, employee development, changes in responsibility, etc.
