5 Expectations CEOs Should Have of Their 2021 Pay Strategy

If you are like most business leaders, your confidence in the economy is growing…but your company is not completely recovered from its COVID experience. It’s left you and your leadership feeling a bit numb. You may have had to cut salaries, freeze incentive plans and either furlough or let employees go. It’s been painful. (Our apologies for reminding you!)

Now you need to move forward with optimism but you can’t just pretend nothing has happened, right?

All of this leaves you feeling uncertain about what your pay strategy should look like in 2021. Questions abound: How can you reward employee performance but not make your cash flow vulnerable? How can you create a pay offering that is more flexible without also unleashing compensation chaos? And so on.

If this is where you and your company find yourselves, you should watch this broadcast.

In this presentation, you will learn how to create a pay strategy that will work in any economy. We will teach you how you can increase performance awards for your people and simultaneously decrease your compensation expense. We will show you how the right compensation structure can help you create an agile yet stable rewards offering that is easily managed.

During this presentation, you will learn:

• Why the success of your 2021 pay strategy depends on a clear compensation philosophy—and how to create one.
• What value creation means, how to measure it and why it is critical you do.
• Why the talent war has not ended and how to create a compensation offer that attracts the right people.
• How effective value-sharing ensures your employees become business growth contributors instead of inhibitors.
• How to strike the right balance between guaranteed and variable compensation and between short and long-term performance rewards.
• How to create a compensation structure for your pay strategy that keeps your rewards approach flexible but enduring.