© 2020 MJH Life Sciences™ and Physician's Practice. All rights reserved.
Merit Raises
I'm preparing to do performance evaluations. What does the merit increase percentage look like for our industry in 2006?
Question: I'm preparing to do performance evaluations. What does the merit increase percentage look like for our industry in 2006?
Answer: The short answer is up to 5 percent with 3 percent more common.
But I would add that more practices are creating ranges for each position.
For example, nurses can get 2 percent to 5 percent based on performance in three particular areas of your choosing - say, attendance, clinical quality, and longevity.
Some are even creating tiered positions, like government offices do, so if you get a "promotion" from a level 1 to level 2 radiology tech, it comes with a set salary increase.
Still others, instead of giving a percent of a person's salary, set aside a percentage of the practice's profit at year-end and divide that based on pre-set performance measures.