How to create a MERIT MATRIX to allocate salary increases!

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” YouTube channel. Subscribing to YouTube 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 EXCEL!   ~ XLOOKUP vs VLOOKUP vs HLOOKUP    • XLOOKUP vs VLOOKUP vs HLOOKUP   ~ XLOOKUP vs INDEX & MATCH    • 2-WAY LOOKUPS (XLOOKUP vs INDEX & MATCH)!   ~ How to use IFERROR in EXCEL    • How to use IFERROR in EXCEL   ~ How to use HLOOKUP in EXCEL!    • How to use HLOOKUP in EXCEL!   ~ How to show formulas with FORMULATEXT Function!    • How to show formulas with FORMULATEXT Func...   ~ What is COMPA RATIO and how do you use it for pay decisions?    • What is COMPA RATIO and how do you use it ...   ~ How to create a SALARY INCREASE MATRIX with EXCEL!    • How to create a SALARY INCREASE MATRIX wit...   ~ How to use EXCEL INDEX Formula!    • How to use EXCEL INDEX Formula!   ~ How to use EXCEL MATCH Function!    • How to use EXCEL MATCH Function!   ~ How to use SLICERS in EXCEL TABLE!    • How to use SLICERS in EXCEL TABLE!   ~ How to find PERCENTILE in PIVOT TABLE    • How to find PERCENTILE in PIVOT TABLE   ~ 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 PIVOT TABLE   ~ How to DISPLAY TEXT in PIVOT TABLE!    • How to DISPLAY TEXT in PIVOT TABLE (Store ...   ~ How to create a 9 BOX GRID for TALENT MAPPING with PIVOT TABLE!    • How to create a 9 BOX GRID for TALENT MAPP...   ~ How to create a 9 BOX GRID for TALENT MAPPING with SCATTER CHART!    • How to create a 9 BOX GRID for TALENT MAPP...   ~ How to create a GANTT CHART with EXCEL    • How to create a GANTT CHART with EXCEL   ~ How to create a SALARY STRUCTURE with EXCEL    • How to create a SALARY STRUCTURE with EXCEL   ~ SUMIF in Excel    • SUMIF in Excel   ~ COUNTIF in Excel    • COUNTIF in Excel   ~ How to use GOAL SEEK for GRADES    • How to use GOAL SEEK for GRADES   ~ COUNT FUNCTIONS IN EXCEL (COUNT, COUNTA, COUNTBLANK, COUNTIF, COUNTIFS)    • COUNT FUNCTIONS IN EXCEL (COUNT, COUNTA, C...   ~ SUMIFS in EXCEL    • SUMIFS in EXCEL   ~ How to use VLOOKUP for GRADES    • How to use VLOOKUP for GRADES   ~ EXCEL with ChatGPT:    • EXCEL with ChatGPT   ~ VLOOKUP with CHATGPT    • VLOOKUP with CHATGPT (How to generate an E...   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 YouTube channel at :    / thehrdiary   ~ Follow my Facebook page at :   / thehrdiary   ~ Check out Books at : https://www.amazon.com/s?k=ng+mong+shen