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The COVID-19 pandemic has certainly turned business goals and 2020 planning upside-down, which means it’s likely that your company’s current financial situation isn’t what you initially expected. While some organizations have actually seen a huge positive shift in their business since March, many others are dealing with a great deal of struggle and uncertainty – which likely means changes to typical annual compensation plans.

Ordinarily, this may be the time of year when employees at your organization look forward to bonuses, merit increases, or other rewards, but your company may not be able to award any of these packages this year due to financial uncertainty, or you may need to choose to delay them until the business reaches a state of more stability.

Whether you have a regular compensation conversation cycle coming up, or you want to be prepared for any questions from your employees about pay, use these best practices to communicate compensation with empathy and expertise.

 

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