Compensation Guidelines in a Recessionary Environment

In today’s economic enviroment, reductions in staff (layoffs) are a primary step in satisfying operating budget constraints in many companies. This article addresses the current economic realities and provides alternative compensation guidelines to minimize these reductions, capture market share and exceed companies’ profit goals by facilitating retention. It also covers the selective recruiting of desirable talent to achieve these objectives and lay the groundwork for business growth and continued success when the economy recovers. The compensation guidelines provided by this article address the following compensation components: base salary; short-term or annual incentives; and long-term incentives. To read the rest of this article click here.