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Weathering the Compensation Reckoning

Author: 
John Baldino
Publication date:
August 4, 2022
Article Summary: 

The blog titled "Weathering the Compensation Reckoning" discusses how organizations can navigate the challenges of adjusting their compensation practices in response to changing market conditions and employee expectations. The article highlights how the COVID-19 pandemic has accelerated changes in the labor market, such as the shift to remote work and the growing importance of employee well-being. The article recommends that organizations take a proactive approach to compensation planning, such as regularly reviewing their compensation practices and benchmarking against industry standards. The article also emphasizes the importance of transparency and communication with employees about compensation decisions, as well as considering non-monetary benefits, such as flexible work arrangements and professional development opportunities. Additionally, the article suggests that organizations should align their compensation practices with their broader mission and values, such as prioritizing diversity, equity, and inclusion.

Keywords: 

Compensation, COVID-19 pandemic, changing market conditions, employee expectations, proactive approach, compensation planning, industry standards, transparency, communication, non-monetary benefits, flexible work arrangements, professional development, mission, values, diversity, equity, inclusion.

Source Citation: 
John Baldino
Weathering the Compensation Reckoning
August 4, 2022
https://www.workhuman.com/blog/weathering-the-compensation-reckoning/
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