When I was working full time, level advancement and pay increases was primarily determined by management decision and evaluation, which can be subjective. Since retiring, I've noticed some jobs use objective methods to do non-management advancements and pay increases.
For example, my seasonal part time job offers compensation increase for experience (i.e. years of service) and certification level. In the past, higher certification levels were achieved by completing company developed courses, but increases were limited to two each year. It would take nearly six years of course hours to reach the highest level. This year, the company changed the certification process from education hours to passing an administered test. In addition, there is no longer a limit to the number advancement levels I can achieve in one year.
My goal this year is to advance as many levels as possible. Although I waited until November to begin, I've already passed four certification tests, putting my level one year ahead what was possible in the previous system. I plan to keep taking tests until I don't pass, or the deadline occurs, which is December 31, 2009. At my current level, I've increased my compensation about 10%. If I am fortunate enough to qualify for and advance four more levels, my compensation will increase about 25% in 2010.
For more on Strategies and Plans, check back every Monday for a new segment.
This is not financial or career advancement advice. Please consult a professional advisor.
Copyright © 2009 Achievement Catalyst, LLC
Subscribe to My Wealth Builder
November Goals Update
2 weeks ago
2 comments:
I think these qualification tests are a great idea if a company has the resources to implement them. It gives a way for good employees to show their abilities in a more subjective way and also allows employers to train employees in specific career paths.
I have to agree with you. It's a good way but it will only matter if a company adapt such practice.
Post a Comment