Over the last two years, employees have come to appreciate the benefits to a fully remote or hybrid work environment. These benefits include saving time commuting, more productivity, schedule flexibility, and better work / life balance.
There are a lot of advantages to working in a family – run business. The family ties can create a strong culture of values and ethics.
As a direct result of the ongoing COVID-19 pandemic, 2022 finds us facing high inflation rates. We’ve seen prices rise 7% – in everything from cars and housing, to gas, food, and furniture.
As an HR leader for your organization, you know that employee compensation is not just something you determine when you hire a new team member and then forget.
Last year, when preparing for 2021 and what we assumed would be a post-Covid 19 world, this article focused on the fact that most nonprofit organizations had frozen executive base pay levels and were focusing on long-term incentives.
As with our review of 2022 compensation budgeting in the last Astronology®, predictions on how variable compensation will unfold are challenging.
Current Economic Climate and Impact on 2022
2021 has been a year of surprises in administering employee compensation programs. Among the changes and challenges in 2021 are the following:
These factors have led many to rethink past and current compensation strategies as we move into 2022. According to SHRM, when planning for 2022:
Consider the future of the organization.
Coronavirus. COVID-19. These two words have been increasingly on our minds and in conversations daily. At this point, most of the world has been affected by the current coronavirus strain, COVID-19.
Accurate, relevant, and timely wage survey results help tremendously when effectively benchmarking your organization’s compensation structure. For many organizations, the task of participating in (or even sponsoring) a salary survey is tedious, and often time consuming.
This Astronology® , the third in our three-part series, examines non-profit executive compensation. In considering non-profit executive compensation, employers and Board have two primary legal concerns.