Compensation Review Checklist Template (HR)
Ensure fair and equitable pay practices with our Compensation Review Checklist. Simplify your annual or merit-based reviews, maintain compliance, and boost employee satisfaction. Download now for a structured approach to rewarding top talent!
This Template was installed 2 times.
Preparation & Data Gathering
Collect necessary salary data, performance reviews, market research, and budget information.
Compensation Review Start Date
Number of Employees Included in Review
Compensation Philosophy Alignment?
Previous Compensation Review Documents
Notes on Budget Constraints or External Factors
Date of Latest Salary Survey Data
Market Analysis
Review industry benchmarks, salary surveys, and competitor compensation data.
Salary Survey Provider (e.g., Mercer, Radford)
Summary of Salary Survey Findings
Average Market Salary for Role
Median Market Salary for Role
Geographic Location Considered for Market Data
Upload Market Salary Report (Optional)
Performance Review Alignment
Analyze employee performance reviews and identify high performers and areas for improvement.
Overall Performance Rating
Summary of Key Accomplishments
Areas for Improvement Identified
Goal Achievement - Quantitative
Manager’s Comments on Performance
Alignment with Company Values
Salary Range Assessment
Evaluate current salary ranges and determine if adjustments are needed based on market data and performance.
Current Salary Range Minimum
Current Salary Range Maximum
Recommended Salary Range Minimum
Recommended Salary Range Maximum
Justification for Range Adjustment
Detailed Explanation of Range Adjustment
Individual Compensation Review
Review individual employee salaries against their performance, market value, and internal equity.
Current Base Salary
Target Base Salary (Based on Review)
Performance Rating (From Review)
Justification for Salary Recommendation
Role Level (compared to band)
Salary Range Low End
Salary Range High End
Additional Comments/Notes
Merit & Bonus Allocation
Determine merit increases and bonus allocations based on performance and budget guidelines.
Overall Merit Pool Percentage
Bonus Pool Percentage (if applicable)
Performance Rating Categories
Merit Increase % - Exceeds Expectations
Merit Increase % - Meets Expectations
Merit Increase % - Needs Improvement
Bonus Multiplier - Exceeds Expectations
Bonus Multiplier - Meets Expectations
Notes on Individual Bonus Decisions
Equity & Consistency Check
Ensure internal equity and consistency across similar roles and experience levels.
Salary Range Comparison (Similar Roles)
Experience Level Consistency?
Deviation from Midpoint (%)
Notes on Role Grouping and Equity
Addressing Pay Inversion?
Rationale for Any Discrepancies
Documentation & Approval
Document all decisions and obtain necessary approvals from HR and management.
Review Summary & Rationale
Total Budget Allocation for Compensation
Date of Initial Review
Review Status
Reviewer Signature
Supporting Documentation (Salary Surveys, Market Data)
Communication Plan
Develop a communication plan to explain compensation changes to employees.
Draft Communication Message (Manager)
Communication Method (Employees)
Communication Send Date
Subject Line (Email)
Key Talking Points
Manager Talking Points Template
Post-Review Analysis
Review the overall compensation review process and identify areas for improvement.
Overall Review Efficiency Score (1-10)
What worked well in the compensation review process?
What challenges or roadblocks were encountered?
Which areas require further training for reviewers?
Date of Next Process Review Meeting
Summary of Key Process Improvement Recommendations
Human Resources Management Solution Screen Recording
See how ChecklistGuro's Human Resources Management (HRM) solution streamlines your HR processes! This screen recording demonstrates key features like employee onboarding, performance management, and leave tracking - all from one centralized platform. Get started with a free trial today! #HRM #HumanResources #ChecklistGuro #HRSoftware #BusinessProcessManagement
Related Checklist Templates
Background Verification Compliance Checklist (HR)
Pay Equity Audit Checklist Template (HR)
ADA Compliance Checklist for HR
Employee Wellness Program Compliance Checklist (HR)
Employee Handbook Review Checklist (HR)
Independent Contractor Compliance Checklist (HR)
HR Risk Assessment Checklist Template
Employee Classification Audit Checklist (HR)
Job Description Compliance Checklist (HR)
HR Technology Audit Checklist Template
We can do it Together
Need help with Checklists?
Have a question? We're here to help. Please submit your inquiry, and we'll respond promptly.