Refusing request for increase in salary
Dear Mr. Nicholas,
Regarding your request for an increase in salary, I regret to inform you that at this moment I cannot grant it. Your salary is on par with the other employees and I cannot increase just one without increasing the others as well.
Also the present business volume does not justify any salary increase. If there is an increase in business volume, then I shall not hesitate to increase my employees salary accordingly. Perhaps you all can play a part towards that.