Felo
Annual Salary Adjustment & Budget Generator
What is Annual Salary Adjustment & Budget Generator?
Annual Salary Adjustment & Budget Generator builds salary adjustment plans and compensation budgets. Input compensation data and benchmarks — get a complete plan with merit guidelines, budget allocation, and equity analysis.
Key Features
- Market compensation analysis
- Current pay position assessment
- Pay equity analysis
- Merit increase guidelines
- Budget allocation framework
- Implementation roadmap
How to Use
- Enter current compensation data by role/level
- Provide market benchmark data
- Specify total merit increase budget
- Describe adjustment guidelines and priorities
- Generate — receive complete salary plan
- Customize guidelines and allocations
Example Use Cases
- Annual compensation review cycle
- Merit increase planning
- Budget presentations to leadership
- Pay equity initiative planning
- Compensation strategy alignment
Tips for Best Results
- Include market data from multiple sources
- Specify performance-based differentiation
- Address any known equity issues
- Include promotion increase guidelines
FAQ
Q: What market data does it use?
A: It uses your provided benchmark data from salary surveys, market studies, or compensation databases.
Q: How does it handle pay equity?
A: It identifies equity gaps by gender, ethnicity, and other factors, and recommends adjustments to close gaps.
Q: Is it free?
A: Yes! Completely free for compensation professionals.