I've got a 10% raise for an employee approved, but it starts from when he is going to make 1 year with us (which is in a couple of months). But the usual compensation talks period for the whole company is this month. Should I have a meeting with him now and inform him that he will get a raise? Or should I postpone this meeting closer to the date he'll actually get it?
It depends on the company policy. Usually you will get confirmation from HR or your management on when its OK to share. Once you have the confirmation, you can discuss. Since you have mentioned the usual period is this whole month, just double check with HR/ Management once and communicate this.
If no one replies to you, in that case, its better to communicate that raises have been approved but avoid the numbers or quantum of approval till you get a confirmation. It may also be helpful to talk to some seasoned managers in the organization to confirm what has been the norm in the past for the communication.
It is common for the raises to be shared a month or two before they are applicable. However, a go ahead is only given once the budget has been approved by the senior management, typically at CEO level.
One more thing to check is when other members of your department are getting the communication. If everyone else knows their numbers ( that should also include you if you are eligible) and you skip your direct reports, it will also lead to unnecessary tension. People will assume they are not getting hikes. So its important to share the communication around the same time when everyone else is getting it.
Kindly ensure that you communicate the effective date of the raise to avoid any confusion, particularly with the new joiners who may not be aware on how the raises work in your organization.
I disagree with other answers on telling him early or telling him now.
Unless you can give him a official revised salary letter indicating the new salary and raise, you should just tell him that his compensation will be discussed when he completes an year. Do not indicate raise leave alone the amount of raise.
While 2 months is short time, it could be long enough for financial decisions to be reversed due to some unforeseen circumstances.
If HR has given you orders, do what they say.
Otherwise, everyone will know that raises will be discussed. The new employee may assume that they are the only one left out if you don’t talk to them, with negative consequences for motivation, jealousy and so on. Easy to avoid by giving them the news at the same time as everyone else.
Nothing erodes trust in management as quickly as a broken promise. But leaving him entirely in the dark is likely to make him feel overlooked or ignored.
I would suggest you schedule a short meeting in which you ensure that he has all the details that you can give him (reiterate company policy, etc), without risking a broken promise. HR should be able to advise you on this*. If you can't give him a certain answer today, schedule a second meeting around his anniversary. During the initial meeting you only tell him he's being considered for a raise (and under what conditions he may or may not get it). It is the best you can do for him, and he'll probably see it as an honest and respectable gesture.
*HR and payroll will have more details about the process. If the raise is already approved and processed, so that he is guaranteed to get it automatically after his 1-year anniversary, then you may be able to tell him safely. If it is subject to his performance in the coming months, or if a policy change could lead to the raise being scrapped, then you must be careful.