June 2020, 25 C2HR member companies participated in a
Pulse Survey of Practices to understand the changes, or
consideration for changes to compensation and benefits
as a result of business impacts from COVID-19. The Pulse
Survey was conducted by The Croner Company and
highlights are as follows:
Actions: 52% of participants have made a change to
employment practices, with the majority freezing hiring.
A few made or are considering layoffs, but these remain
in the minority.
Essential Workers: 72% of participants designated
essential workers within their workforce. 28% of these
increased pay for non-exempt essential employees (11%
did so for exempt and 17% did so for all).
Base Salaries: 40% of participants made changes
to base salary administration, with approximately half
reducing executive base salaries. About one-third of participants
are considering reduced or no increases in base salaries
Incentives: The greatest response regarding incentives
has been in the area of sales plans where 37% have made
some change to respond to the changing landscape, either
to plan metrics or by changing performance requirements
or periods. For sales plans, the spirit of the change
has been to continue to motivate and reward sellers for
driving sales in a new environment.
Benefits: About one-third of participants provided
additional benefits (above regulatory requirements) with
the greatest prevalence being in making and/or matching
charitable contributions and providing a work from home
Return to Office: 72% are currently planning to
continue work from home for all employees; however many
are thinking about ways to make the return to office safe.
Considerations focus on flexibility, phasing, alternating
times in offices and adjusted hours to ensure safe and
healthy distanc (distancing?) and limited exposure times.
C2HR will release findings from the 2020 Compensation
Surveys later this year. To learn more about the C2HR
Compensation Surveys, please visit c2hr.org/compensation-survey/.