Common use of Market Adjustment Clause in Contracts

Market Adjustment. Where a classification has been identified by the Employer as being behind market and such class has been difficult to recruit for or to retain employees in, the Employer may temporarily increase the rate of pay for the class by up to two pay grades (or its percentage equivalent). Such adjustments will be reviewed annually. Upon such annual review, if a classification is found to be above market then the rate for the class will revert to the pay grade or hourly rate in effect prior to the time the temporary increase was applied. Those employees found to be above the range will remain at their current rate until such time as normal increments or general increases match or exceed the employee’s current rate, at which time employees shall again become eligible for increments and general increases.

Market Adjustment. Where a classification has been identified by the Employer as being behind market and such class has been difficult to recruit for or to retain employees in, the Employer may temporarily increase the rate of pay for the class by up to two (2) pay grades (or its percentage equivalent). Such adjustments will be reviewed annually. Upon such annual review, if a classification is found to be above market then the rate for the class will revert to the pay grade or hourly rate in effect prior to the time the temporary increase was applied. Those employees found to be above the range will remain at their current rate until such time as normal increments or general increases match or exceed the employee’s current rate, at which time employees shall again become eligible for increments and general increases.

Market Adjustment. ‌ Where a classification has been identified by the Employer as being behind market and such class has been difficult to recruit for or to retain employees in, the Employer may temporarily increase the rate of pay for the class by up to two (2) pay grades (or its percentage equivalent). Such adjustments will be reviewed annually. Upon such annual review, if a classification is found to be above market then the rate for the class will revert to the pay grade or hourly rate in effect prior to the time the temporary increase was applied. Those employees found to be above the range will remain at their current rate until such time as normal increments or general increases match or exceed the employee’s current rate, at which time employees shall again become eligible for increments and general increases.