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Annual Reward Cycles  
Posted: 03/19/2020 07:36am   47 Views
  
     

Given that many companies perform their annual reward process, often including salary increases, bonus payouts and stock awards, during the first quarter of the year, are you postponing or cancelling any of these programs as cost saving measures?


Annual Reward Cycles  
Posted: 03/24/2020 10:08am  
  
     

I think the answer will differ from company to company, depending on the industry, current and projected financial health of the company, etc. The company I work for, as an example, will continue normally (will not postpone or cancel compensation/reward processes). However, I have friends working in other industries whose companies are postponing and/or canceling this year's processes. I've also heard of adjusted plans, like cutting merit budgets in response to the COVID-19 impact.


Private15019

   
Annual Reward Cycles  
Posted: 03/25/2020 06:15pm  
  
     

Check out the WorldatWork COVID-19 web page and see under the "Research" tab the Quick Poll results for related questions "How is your organization moving forward with salary increase planning?" and "How is your organization moving forward with bonus payouts for 2019 plan year?"   https://www.worldatwork.org/resources/topics/flu-pandemic-planning-response


Annual Reward Cycles  
Posted: 03/26/2020 08:09pm  
  
     

Also, Mercer has set up an ongoing/live survey with over 1,000 participating organizations responding on their responses to COVID-19:

https://app.keysurvey.com/reportmodule/REPORT2/report/1479157/41188187/e0176b7809e3e4e0a08ef5f21b10a2f0?Dir=&Enc_Dir=8129ead7&av=IxnIBAm77ac%3D&afterVoting=45f9106942e8&msig=b69a8d67569063f9c374d5de6672aa83


 
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