Several clients have contacted us regarding the cost of labor increase rate they should currently be using to update their salary ranges. This is often followed by inquiries on how other employers are paying their employees amid the COVID-19 situation.
Following is a series of questions our clients have recently asked, various ways organizations are approaching these questions, and key considerations as you develop a strategy to address your unique business needs.
What best fits your needs and circumstances may or may not “fit” with what others are doing or are not doing. In all cases, communications to employees about the actions you are taking or are not taking and why are critical to maintain and build employee trust during this difficult time. Communication with staff may be more important than any compensation action.
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