Effective from June 2018
Approved by: Chief Executive Officer
It is understood that an employee’s salary should be reviewed on an annual basis to ensure that Five Good Friends is competitive within the industry and current market practices.
It is important to recognise that a salary review is not automatic and is at the discretion of Five Good Friends. In some cases, no salary review will be granted if the position is deemed to be at or above market averages or the economic environment does not permit such increase.
The salary review is an opportunity to assess the salary and determine if any increase is necessary and if so the appropriate amount.
This policy and procedure outlines the steps in the salary review process.
All salaried (non-award) employees within Five Good Friends and related associations. It is the responsibility of all Senior Executives, Human Resources, and Senior Managers to maintain this policy.
The purpose of this policy is to support Five Good Friends to pay all employees a salary that is competitive in the market place and appropriate to job level and performance.