Columbus Compensation Association
Presentation: Compensation in Crisis
Presentation By: Jeremy Spake, Cornerstone
Webinar Meeting link: https://columbuscompensationassociation.my.webex.com/columbuscompensationassociation.my/j.php?MTID=mcbaa36430e556fca5d7130b74e2f60d7
8:45 AM: Virtual Lobby opens
9:00 AM: Speaker Presentation
Note: For our June meeting only, we are waiving the cost for non-members and students! Please share and encourage others who may be interested to attend!
We have a new idea of what it means to be on the “frontlines” of a global crisis. Retail grocery staff, warehouse professionals, logistics and delivery operators, and healthcare professionals have been classified as “essential” workers in our global economies. These are roles that cannot be done remotely, and for which constant risk was now part of the job description.
Tech giants ADP, Facebook, and Workday sent their entire workforce to work from home and granted all employees one-time immediate bonus payments ranging from $1,000 to a full 2 weeks of pay per employee to assist with any unforeseen COVID19-related expenses. Not all organizations have the deep pockets to make immediate expenditures, so what can organizations with thinner margins do now to ensure workers on the frontlines are taken care of, and what can we do to brace for impact of future crises or recessions – while doing the right thing and taking care of our people when they need it the most: now.
LEARNING OBJECTIVES: This session will cover 1) what companies in these “critical industries” (groceries, healthcare, manufacturing, etc.) are doing, 2) compensation policies to consider in times of crisis and 3) what companies can be doing now to cut costs to brace for future crises and recessions.
Jeremy’s experience ranges both as a business leader and consultant in compensation, mergers & acquisitions, workforce analytics, and strategic planning. Areas of focus have included change initiatives in compensation planning; short & long-term incentive plan design; continuous performance management and succession planning.