Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

Economic rate has slumped down globally, is it justifiable to provide increment now to employees who never received any for the last 3 years?

If an employee has been with the company for the last3 years and has never received any increase since he/she started working, is it reasonable now to give her an increase even tho the economic trend is declining? 

user-image
Question added by Loraine Domingo , Career Break , N/A
Date Posted: 2016/03/21
Shahul  Hameed Mohammad
by Shahul Hameed Mohammad , Human Resources Generalist (HR Generalist) , S A CO

It all depends on what is the economic environment of the company concerned, global economic condition has nothing to do in giving increment or not as long as company is prosperous. It may so happen that when there is global economic slump some companies will continue to prosper and earn profit, and even when the global economic condition is good some other companies will suffer losses and may have to control costs.

It depends on your company. If your company is being affected by the economic recession, and they laid off workers, then the other employees may received an increment on their salary. When they laid off workers, they tend to save some amount of money and that money saved will be used to increase the current compensation of the existing workers.

More Questions Like This

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.