It is increasingly challenging to administer compensation in an uncertain economic climate. Inflationary pressures, wage compression, competition for talent, and the prospect of a recession are a few of the challenges that make it difficult to keep up with increasing compensation demands. We believe there are five current economic influences that impact paydecisions: Influences that […]
My colleagues at Executive Benefits Network, R. David Fritz and Patrick Margot, and I collaborated on a white paper: Designing the Right Compensation Package. The white paper discusses the key components of providing a robust package for employees. In particular, EBN explores types of Nonqualified Deferred Compensation Plans that companies are using to attract, retain […]
The past few years have certainly been eventful, from both a talent and rewards perspective. The intersection of a global pandemic, world political and supply chain disruptions, shortage of talent, and raging inflation present difficult terrain to manage for both employers and employees. In 2023, employers will continue to face significant pay challenges: a competitive […]
As budgeting for 2023 quickly approaches, compensation and human resource professionals must narrow in on their salary increase strategies for the coming year. Labor market conditions this year, including historic high inflation and unprecedented turnover, have had a dizzying impact on the cost of labor. Looking ahead to 2023, the threat of recession now looms. […]