- job accountabilities as organizations restructure to better align their employee base with their new operating realities
- how and where works gets done, including an increase in the number of employees working remotely – in some cases indefinitely or even permanently
- revenue expectations and budgets that directly impact the dollars available for base pay increases, bonuses and other total rewards expenditures
- business or organizational priorities, necessitating the need to rethink objectives at the corporate, unit and individual level.
For some businesses, the organizational impacts of these changes will be profound. Yet, regardless of the magnitude of change, it is vital to have a holistic and integrated plan for managing these considerations so the organization can move forward as smoothly as possible.
If your organization has been restructuring and making material changes to jobs and job content, it is important to understand the impact of these changes. Ideally, your organization will have some sort of job evaluation process so you can readily assess whether job changes warrant moving jobs to different pay bands.
It may be tempting to reassign job duties and workloads while leaving everyone with their existing salary and pay band. This approach, however, may introduce fundamental inequities that can leave those who have taken on bigger roles feeling dissatisfied and more open to new opportunities elsewhere.
In addition, individuals in people management roles may also be grappling with some seismic shifts in how they manage their teams. Managing remote workers introduces new complexities in terms of leadership and coaching opportunities as well as in managing workflow and meeting deadlines when it is harder for people with interdependent work to meet, innovate or solve problems.
For many organizations, actual revenues aren’t aligned with the objectives set for the year. This is prompting organizations to take a hard look at what this might mean for both compensation and performance objectives and to make course corrections as needed.