Adjusting Your Compensation Budget with Current Realities

In the midst of ongoing economic and business uncertainty, many employers are pursuing short-term staffing reductions, adjusting, or postponing merit pay and bonuses, and modifying less critical benefits. With your peers, explore the importance of focusing on pay and benefit elements with the highest impact on talent retention.

MRA Subject Matter Expert: Mary Aprahamian, Compensation Director (bio). Mary is a Certified Compensation Professional (CCP) with more than 25 years of experience in human resources and compensation management. Mary collaborates with organizations to align their compensation plans with strategic goals to position themselves well in the marketplace.

MRA Facilitator: Lynell Meeth, Director, HR and Content Strategy (bio). Lynell’s facilitation style is candid and curious, using her strengths in relating to others and sharing stories to help inspire and lead.

Peer Discussion Questions:

1)     How have you modified your compensation and benefits strategies to meet the current needs of your budget and workforce?

2)     What is your total rewards strategy for the remainder of 2020?

3)     How are you communicating tough compensation decisions, in a manner consistent with your organization’s purpose and values?