Why Salary Revision is so important?
As we all know, this is the time for salary revision. We may recieve our revised salary information any day. All around, there is only one topic to discuss i.e 'how much increment this year!!!'. This question came to me this morning that 'why the salary increment is so important'. Following is what I could justify myself with:
1- Need: Few of us must be at the salary which might not be sufficing our living needs, hence to live a normal life we need more funds. Hence the only hope is salary revision this year.
2- Greed: Humans by basic nature are greedy, so we are. What ever we earn we find the ways to spend and whatever we earn it falls short. Also the desire to acquire more assets. So greed is another reason.
3- Value: There are two aspects; value in the market of the skills employee carry & value that existing company percieves for the individual. Most of the organizations don't share any comparitive information of the performance of an individual. The employee might percieve the salary increment as a performance indicator & choose to get de-motivated ("someone says money cannot be a motivator it is always a demotivator").