Salary Adjustment Proposal
Attention
CEO (Chief Executive Officer)
Request to Adjust the Salary of Employee: Thomas Ragmun
I am writing in requesting for the salary increase of one of our employee, Thomas Ragmus, who is in the Treasury department with the function as the financial specialist. The rationale behind the salary adjustment proposal is that the aforementioned employee has worked for more than 7 years in the financial industry. Before joining our company four years ago, the employee has worked for different financial and investment companies making Mr. Thomas to accumulate wealth of experience in financial and investment analysis before joining our company. The experience that the employee brings to our organization has assisted our company to win more market shares within the last three years.
Couple with the experience that the employee has accumulated before joining our company, the employee has also accumulated experience in our company as both treasury and financial specialists. The employee has also showed a very high enthusiasm in his job. Over the years, Mr. Thomas has used the quantitative technique to solve complex financial problems for our company. The valuable statistical knowledge of the aforementioned employee has assisted our company to deliver accurate financial planning with zero error. The contribution of Mr. Thomas for our company over the years has assisted us to record increase in the number of clients. Since Mr. Thomas has joined our company, we have been able to retain more than 80% of our clients where 30% of the clients retained are based on the job completed by Mr. Thomas.
Apart from the Thomas' accumulated experience, the employee also has a sound educational background. The employee has an MBA with a concentration in financial management. The education qualification of the employee makes him a valuable asset for our company. In the present U.S. economic environment, both private individuals and organizations are increasingly seeking for the service of financial experts to make a wise investment decision. The qualification of Mr. Thomas will be very valuable for our company both presently and in the future. The education background of the employee is a valuable asset for our company because he has assisted our company to take some investment risks, which have paid off in the long run. The past risky investments that we have undertaken have been largely profitable for our company based on the expert financial advice from Mr. Thomas. Thus, the employee has assisted our company to enjoy higher profitability.
Comparing the current total package of a treasury specialist of our organization to other organizations of the same size, Mr. Thomas is receiving lower salary compared to other treasury specialists of the same level. Based on the aforementioned reasons, I am proposing that we should increase the total package of Mr. Thomas. The table below reveals the recommended new salary package for Mr. Thomas.
Salary Increase Proposal
Employee Name: Thomas Ragmun
Position: Treasury specialist
Old Salary: $36,000 per annum
Department: Treasury.
Salary Proposed: $50,000 per annum
Function: Finance
Amount Increased: $14,000
Requested Effective Date: 01 September, 2013
% Increased:38.88%
If my proposal is implemented, our organization will enjoy the following benefits:
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