BACK
in 2008 when the financial crisis hit,
compensation planning was no easy
task as a Great Recession rolled across the globe.
But with the COVID-19 pandemic, that kind of
uncertainty has only intensified.
It's "uncharted territory," says Allison Cowan,
director of human capital at the Conference
Board of Canada in Ottawa.
"And it probably felt that way in 2008. This is
playing out a little differently. It's not a straight
recession; there are so many other factors
going on. And as we navigate the second wave,
there's a great deal of uncertainty about how
this will impact the economy and employment
situations. The labour market has already been
hit hard by this and it will be a long road back to
the employment levels that we saw early in 2020
when things were humming along well."
However, in the past eight months, organi-
zations have gone through change on a large
scale that we might not have thought possible,
she says.
"They've been able to accomplish pretty
amazing things in short order. So I think we
need to count on employers still to adapt,
to continue to put the health and safety of
employees first, while at the same time doing
their best to remain productive, sustainable and
WWW.HRREPORTER.COM ISSUE 33.11.2020
THE NATIONAL JOURNAL OF HUMAN RESOURCE MANAGEMENT
CEOs Talk
Four Canadian CEOs show that leaders
are putting employees and customers
first when it comes to thriving in the new
normal
/16
Boosting culture with tech tools
In an exclusive roundtable, we hear about
the crucial role collaborative tools play in
the new world of work
/24
ALSO IN THIS ISSUE…
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Many employers are keen to offer some
kind of training, but that doesn't mean
they always get it right /8
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The spotlight is on HR as workplaces
transform to face the future, which
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MBAs for HR
With more people working from home,
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acumen /22
> pg. 2
Judging by the latest annual salary surveys,
employers will need to be creative when it comes
to compensation planning for 2021 as freezes and
low increases leave little room to reward workers,
finds Sarah Dobson
Terminations in a pandemic
Employment lawyers discuss the
potential impact of an employee's
entitlement to notice of termination
/52
Wave of uncertainty hits
compensation planning
