Increment / pay hike will be better next year!

'Increment / pay hike will be better next year!' Year on year, this could be a widely used statement by ‘transactional’ managers… especially during this time of the year. While it’s a very important and sensitive topic… it is good to know how the ‘Great Managers' deal with it. The 'Great Managers' do not just talk about Pay but use this opportunity to talk about holistic offerings. Based on learning from great managers, I call these offerings ‘PACKAGES’, which can be expanded as under: Pay / hike / increment [not just 1 year, but for the past 3-5 years… why? because orgs. show growth perspective in 3-5 years time horizon to other stakeholders as well – shareholders, vendors, investors, etc., then why not for employees also] Appreciation / recognition Change of role (promotion/ lateral / rotation / domestic / international move) Knowledge aligned meaningful work Access to leadership / visibility Growth plans through development Empowerment / flexibility / support Sponsorship / benefits aligned to individual needs So this year, don’t just talk about Pay, but share the holistic offerings of ‘PACKAGES’ in conversation with your teams!