Common challenges

How is COVID-19 affecting other businesses’ compensation plans?

August 28, 2020

In May 2020, we surveyed our clients to learn whether employers are having any compensation challenges and whether their priorities have shifted as a result of the COVID-19 pandemic across Canada. We we’re happy to have received over 550 completed surveys, giving us (and now you!) great insights into how businesses are doing across the county.

From the results, we uncovered important information and surprising data, which helped us shape the content and support we create for our clients. We were interested to learn that approximately 38% of respondents had applied for the Canada Emergency Wage Subsidy (CEWS), designed to help organizations keep their team employed. A good thing to hear was that almost 64% of respondents did not have to reduce or freeze wages. But there is so much more we can all learn from how other businesses dealt with the effects of COVID-19.

It’s important during these times, as we all begin to pick up the pieces and resume operations, that we all have access to relevant information to make critical decisions. Therefore, we have decided to share the results of our survey, and we’ve included important action items and tips to help you along the way. In this blogpost, you can download the full report, which summarizes the data from our survey. We hope to provide context and clarity on how other HR professionals and business leaders are shifting priorities and addressing compensation challenges during the continued pandemic.

 

!Illustration Bank - August2_COVID-19 Report Icon
 

A direct download to the
"COVID-19: Compensation Challenges and Shifting Priorities
Report"
is available below:

 


As changes continue to occur and as time goes on, we will continue to keep our blog updated with important information employers and HR professionals need to know. Our aim is to provide all businesses with accurate, relevant, and timely information during the COVID-19 pandemic as we all work together to get through these difficult times. Of course, our members have additional access to our COVID-19 resource centre for unlimited resources, which we update continually to support businesses through the ever-changing pandemic.

 

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