Beyond the obvious impacts of COVID-19 on businesses, the sudden economic slowdown also creates specific challenges for Human Resources. In the coming weeks and months, HR departments will need to understand how changes in the business and the environment affect compensation and retention. In this paper we look at the new challenges for:
- Retaining and motivating key talent
- Identifying “flex points” to adapt current programs as the crisis evolves
- Preserving cash and enhancing the return on compensation spending
