Uncertainty and volatility have become the norm for organizations after more than two years fighting a global pandemic, supply chain disruptions, societal disorders, and now the highest inflation in 40 years and the possibility of a recession. In addition, a growing gap between job openings and available talent is making hiring more challenging, leaving many […]
At the start of the year, Lappley & Associates examined four important themes impacting compensation in 2022: competitiveness, pay equity, remote/flexible working arrangements, and Environmental, Social and Governance (ESG). These issues have become integral to compensation planning regardless of how businesses are performing. Despite supply chain disruptions, inflation and persistent labor shortages, CEO confidence remained […]
In recent years widespread social-justice movements are demanding pay equality. And in today’s war for talent, pay transparency is critical for employee acquisition and retention. While President Biden has made closing gender and racial pay gaps a priority, so far progress has been mostly limited to the federal workforce. Instead, states and municipalities are passing […]
As companies across our region and the U.S. compete for talent, compensation plans are getting increased scrutiny. Plan designs are evolving to meet current economic demand and accelerated hiring needs. At the same time, concerns about inflation, interest rates, and political instability have CEOs worried future business conditions could worsen over the coming year. These […]
During the past two years the business operating environment has changed dramatically, impacted by a wide-ranging pandemic. After a steep global economic downturn, government stimulus supported a robust recovery. However, a tightening labor market and escalating inflation are putting pay and performance programs under increased scrutiny. Among the issues making compensation increasingly complex are employee […]
Employers are proving to be flexible and resilient in the face of a global pandemic. Many are adapting by implementing remote work and more robust health, safety, and wellness measures. But how is COVID-19 impacting business strategy and compensation? To answer that question, the MIT Sloan Management Review Forum asked its panel of experts if […]
Will salary increase budgets rise or fall in 2022? Although employment has not yet returned to pre-pandemic levels, most executives are optimistic the economic recovery will continue, a sentiment that paves the way for higher wages. In fact, a recent poll by Chief Executive shows CEOs anticipate both revenue growth (79%) and profit growth (68%) […]
The pandemic and resulting economic fallout impacted lives and businesses like no other event for a generation. In response, employers adapted with agility and speed. Remote work became the norm. Companies embraced digital technologies to enhance employee safety and collaboration. However, as companies have repositioned in the marketplace, compensation and rewards programs have not kept […]
The talent war is raging, and CEOs want their human resource heads (CHROs) to spend more time finding, retaining, and upskilling great employees. That is according to a recent poll by Chief Executive and the Society for Human Resource Management (SHRM). Many companies are gearing up for significant growth as the pandemic eases, but the […]
How will your organization meet employee demands in a post-pandemic economy? Despite an expanding jobs market and growing optimism about the recovery, employers are finding that in many ways employees are in the driver’s seat as competition for workers tightens. This seeming paradox comes as unemployment levels remain high. Agile companies are responding with compensation […]