So, you have a bit of extra money for payroll and you want to give out a few raises. The only problem? You’re not sure which employees on your staff deserve those raises the most.

The good news is that deciding which team members should get a raise isn’t as hard as you may think. There are a few determining factors, and once you know them, the decision becomes much easier.

In this article, we’ll tell you 5 questions you can ask yourself to make giving out raises that much easier. That way you can do so in an honest and fair manner. Now then, let’s get started!

1. Who Contributes to Our Success the Most?

There’s a reason that NFL players don’t all make the same salary. Some players contribute to the team’s success more than others, and thus, deserve more money.

So, ask yourself who are your team’s most valuable players. And once you find those people, make sure you pay them accordingly so they don’t decide to play for another team.

2. Who Has Been Employed the Longest?

More often than not, your best employees are the ones that have the longest-running tenures. So if you’re trying to decide who gets a raise between two or more members of your team, pick the person who has been there the longest.

They’ll appreciate being rewarded for their loyalty, to say the least.

3. Who Has Useful and Unique Skills?

It’s likely that some of your employees have unique and valuable skills that they and only they possess. That, combined with some of the other factors that we mention on this list, makes them worthy of a promotion or raise.

4. Who Are Your Leaders?

If you’re going to run a business successfully, you can’t expect to do it alone.

You have to, if you haven’t already, define your leaders and pay them accordingly. In fact, odds are your team has already picked your leaders themselves, so pay attention and reward those individuals.

5. Who Would You Miss the Most?

While no one person carries your team, there are probably one or two people that you’d miss more than the others if they decided to quit tomorrow.

Remember, it’s nowhere near as hard to keep good employees as it is to find them. So, determine who your can’t-lose team members are and pay them more money than they’re currently making. They’ll appreciate the fact that you’re acknowledging their performance, and their overall worth, which is always the right thing to do.

Looking for ways to easily pay your employees? Use an online pay stub creator to speed up your payroll process!

Tips for Deciding Who Should Get a Raise

Well, there you have it! Those are a few tips that you can use to decide which employee, or employees, should get a raise!

Analyzing your staff and deciding who your most valuable employees are is a great way to start. Perhaps the best question to ask yourself is who would you miss the most if they left you for another job.