Prepare for Annual Performance Management and Compensation Reviews
As we reach the midpoint of 2024, it’s time for organizations to start preparing for the year's end. This period often coincides with annual performance management programs and adjustments such as merit, across-the-board, market, and cost of living increases. At this time of year, we encourage organizations that haven't conducted a market study within the past three years to engage with Catapult for a comprehensive analysis of your positions and their competitiveness. This step is essential before implementing 2025 pay increases. The past three years have seen significant rises in labor and living costs, making market pay competitiveness crucial for attracting, retaining, engaging, and growing your workforce.
The Compensation Advisors at Catapult are quickly booking up for projects in the final months of 2024. To ensure we can assist with your compensation needs, please reach out soon to schedule a time and reserve your spot. We look forward to partnering with you on your compensation projects in 2024 and 2025!
Compensation Consultant, Catapult Employers Association