The Wage Growth Report in Protiv helps you track how your employees' wages have changed over time, so you can see who's leveling up their earnings. 💪
The Wage Growth Report is like a progress report for your team's paychecks. It shows you how much each worker's wages have increased (or decreased) over a certain time period. This can help you spot trends, identify top performers, and make informed decisions about compensation.
What's in the Report? 📄
The Wage Growth Report includes the following information for each worker:
-
Date Range: The time period covered by the report (e.g., last month, last quarter). 🗓️
-
Worker Name: The name of the employee. 🧑💼
-
Standard Wage: The worker's regular hourly rate. 💵
-
Pay Rate: The worker's average hourly rate during the selected time period, including any bonuses earned through ProPays. 💰
-
Wage Growth ($): The total dollar amount by which the worker's pay rate has increased (or decreased) compared to their standard wage. 📈📉
-
Wage Growth (%): The percentage increase (or decrease) in the worker's pay rate compared to their standard wage. 📊
How to Read the Report 🤓
-
Filter by Date Range: Choose the time period you want to analyze (e.g., last month, last quarter).
-
Look for Trends: See which workers have consistently high wage growth percentages. These are your top performers! 🌟
-
Identify Outliers: Look for any workers with unusually low or negative wage growth. This could indicate a need for additional training or support. 🤔
-
Compare to Benchmarks: If you have company-wide or industry benchmarks for wage growth, compare your team's performance to see how you stack up. 📏
Pro Tip: Use the Wage Growth Report to identify opportunities for rewarding and recognizing your top performers. It can also help you identify areas where you may need to adjust your compensation strategy. 📈💰