In general, a pay adjustment is any change that affects the pay rate of an employee, whether it is an increase or a decrease, that does not involve the duties associated with a given position. In many cases, a pay adjustment applies to a particular group of employees and is granted in the beginning of each fiscal year, but spot adjustments are also common for employees who go above and beyond company expectations. In addition, employers must consider the amount paid by competitors for similar work in a given industry.
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