Annual increment is a term that is commonly used in the context of employment and refers to the increase in salary or wages that an employee receives on an annual basis. It is an important aspect of employee compensation and is usually based on factors such as performance, experience, and market trends.
Definitions
The term annual increment can be defined as the increase in salary or wages that an employee receives on an annual basis. It is usually based on factors such as performance, experience, and market trends. The amount of the increment may vary depending on the company policy and the employee’s job level.
Origin
The concept of annual increment has been around for a long time and is believed to have originated in the early days of industrialization. As companies began to grow and expand, they needed a way to attract and retain talented employees. One way they did this was by offering annual increments to reward employees for their loyalty and hard work.
Meaning in different dictionaries
According to the Oxford English Dictionary, an annual increment is “an increase in salary or wages that is given to an employee on an annual basis.” The Merriam-Webster dictionary defines it as “an increase in pay that is given to an employee on an annual basis.”
Associations
Annual increment is often associated with performance-based pay and employee retention. Companies use it as a way to reward employees who perform well and to encourage them to stay with the company.
Synonyms
Some synonyms of annual increment include salary increase, pay raise, and wage hike.
Antonyms
Some antonyms of annual increment include salary decrease, pay cut, and wage reduction.
The same root words
The root words of annual increment are “annual” and “increment.” Annual refers to something that occurs on a yearly basis, while increment refers to an increase in quantity, value, or degree.
Example Sentences
- “John received an annual increment of 5% for his excellent performance this year.”
- “The company policy states that annual increments are based on employee performance and market trends.”
- “Many employees look forward to their annual increment as a way to reward their hard work and dedication.”